Falcons Paid $98.7M for 22 Starts From Kirk Cousins Before Releasing Him

Atlanta signed Cousins to a $180M deal in 2024, then drafted his replacement 43 days later, leading to a messy divorce.

Apr. 6, 2026 at 10:11am

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The Atlanta Falcons signed quarterback Kirk Cousins to a four-year, $180 million contract in March 2024, only to draft his replacement, Michael Penix Jr., with the 8th overall pick just 43 days later. Cousins was surprised by the move and felt 'misled' by the team. Over the next two seasons, Cousins started 22 games for the Falcons, going 12-10, before being released in 2026. The Falcons ended up paying Cousins $98.7 million, or $4.49 million per start, and are still on the hook for $35 million in dead cap from his contract.

Why it matters

This case highlights the risks and pitfalls teams can face when making major quarterback investments, especially when they quickly turn around and draft a potential replacement. The Falcons' handling of the Cousins situation has been widely criticized, with the team essentially paying for two starting QBs and still owing significant dead cap even after releasing Cousins.

The details

In March 2024, the Falcons signed Cousins to a four-year, $180 million contract, with $100 million fully guaranteed. Just 43 days later, they used the 8th overall pick in the 2024 NFL Draft to select quarterback Michael Penix Jr. out of Washington. Cousins and his agent were blindsided by the move, with Cousins saying he may have stayed in Minnesota if he had known the Falcons planned to draft a QB so high. Over the next two seasons, Cousins started 22 games for the Falcons, going 12-10, before being benched and eventually released in 2026. The Falcons ended up paying Cousins $98.7 million, or $4.49 million per start, and are still on the hook for $35 million in dead cap from his contract.

  • On March 13, 2024, the Falcons signed Cousins to a four-year, $180 million contract.
  • On April 25, 2024, the Falcons used the 8th overall pick to draft quarterback Michael Penix Jr.
  • In 2024, Cousins started 14 games for the Falcons, throwing for 3,508 yards, 18 touchdowns, and 16 interceptions.
  • In 2025, Cousins started 8 games for the Falcons after Penix tore his ACL.
  • On March 11, 2026, the Falcons officially released Cousins, designating the move as post-June 1 to soften the cap hit.

The players

Kirk Cousins

A veteran quarterback who signed a four-year, $180 million contract with the Falcons in 2024, only to be blindsided when the team drafted his replacement just 43 days later.

Michael Penix Jr.

The quarterback drafted 8th overall by the Falcons in 2024 to replace Cousins, though Penix later tore his ACL in 2025, forcing Cousins back into the starting role.

Ian Cunningham

The new general manager of the Falcons, who inherited the Cousins situation and had to navigate the team's messy divorce from the veteran quarterback.

Matt Ryan

The former Falcons quarterback who now works in the organization as the president of football operations, after his own team had to deal with brutal cap decisions during his playing career.

Raheem Morris

The Falcons head coach who benched Cousins in 2024 after a poor stretch of games, handing the starting job to rookie Penix.

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What’s next

The Falcons will enter the 2026 season with Michael Penix Jr. still recovering from his ACL tear, and $35 million in dead cap from Cousins' contract on their books.

The takeaway

The Falcons' handling of the Kirk Cousins situation has been a cautionary tale, highlighting the risks and pitfalls teams can face when making major quarterback investments, especially when they quickly turn around and draft a potential replacement. The team's mismanagement has left them in a difficult financial position, still paying for a quarterback who is no longer on their roster.