Two years ago, the Atlanta Falcons signed free agent quarterback Kirk Cousins to a massive four-year, $180 million contract. Six weeks later, the organization used its highly coveted eighth overall selection in the 2024 NFL Draft on rookie quarterback Michael Penix Jr.
Penix took the job from Cousins at the end of the 2024 season, and it has been his job ever since.
They paid Cousins $40 million to ride the bench this season, but were rewarded with eight starts after Penix suffered a season-ending injury.
Now, ESPN’s Adam Schefter reports that the Falcons are expected to use their 2026 out and release the veteran quarterback in the coming days.
“Falcons quarterback Kirk Cousins is expected to be released before the start of the new league year in March, allowing him to choose where or if he wants to play in 2026, per league sources,” Schefter wrote in an X post.
What’s The Cost Of Cutting Kirk Cousins
In short, cutting Kirk Cousins is financially detrimental.
There is no such thing as a clean break in Cousins’ $180 million contract.
When he is released, it will come with a massive $35 million in dead cap space in 2026.
He will likely be inside the top five of the highest-paid players on the Falcons next season, regardless of whether he was cut or not.
The more time passes, the less sense it makes to sign him to the massive long-term deal and then draft a quarterback the next month.
However, if you’re more of a glass-half-full kind of fan, the team is saving at least $67.9 million that would become fully guaranteed to Cousins if the team does not release him by March 13th.
Schefter Says Penix Isn’t The Guy… Yet
Schefter included an interesting admission in his Cousins announcement regarding quarterback Michael Penix’s career with the team.
“Releasing Cousins also would further open up the quarterback position in 2026 for the Falcons, whose new regime has not yet committed to Michael Penix Jr. as the starter,” Schefter wrote. “Penix currently is recovering from surgery to repair a torn left ACL, which he suffered in November, and is expected to be out anywhere from nine to 12 months.
“Penix said in several interviews last month that he believes he will be back for the 2026 season opener, but Falcons president of football Matt Ryan said last week that the new front office would have ‘a lot of discussions for us about the entire roster,’ when asked about the quarterback position.”
It is worth noting that Penix was drafted by now-fired general manager Terry Fontenot and made the starter by now-fired head coach Raheem Morris.
He has no ties to Matt Ryan’s front office and now loyalty from the new head coach, Kevin Stefanski.
Something to keep an eye on as 2026 roster building creeps closer.
Falcons Quarterback Kirk Cousins Expected To Be Released