Falcons Rework Kirk Cousins’ Contract

The Falcons’ redo will drop Cousins’ 2026 salary from $35MM to $2.1MM, according to ESPN’s Field Yates, who passes along a significant date that will most likely change the QB’s address soon. The Falcons have placed a $67.9MM guarantee for 2027 in this restructure, and a 2026 trigger date is now in place.

If Cousins is on Atlanta’s roster by March 13, that $67.9MM 2027 number locks in, per Yates. It is extraordinarily unlikely the Falcons or any other team will want any part of that number, pointing to a release before that date. This restructure does not change any Cousins guaranteed money for 2026.

As long as Cousins is off the Falcons’ roster by March 13, he will only count $10MM in remaining guarantees. This restructure will increase the dead money number — currently at $35MM — for a 2026 release, however.

The Falcons entertained trade talks involving Cousins last year, but the team wanted an acquiring club to eat a sizable portion of Cousins’ 2025 money. Nothing happened, and Cousins remained Michael Penix Jr.‘s backup entering the season. A Penix injury ended up making Cousins an eight-game starter, but the younger passer will be on track to reclaim his job ahead of the 2026 season.

Cousins, 37, sought a Falcons release early during the 2025 offseason. He met with Arthur Blank about a release last March, but the owner refused the request. Cousins signed a four-year, $180MM contract that came with $90MM at signing in March 2024. Rather than trade or release Cousins last March, the Falcons allowed the additional $10MM guarantee (for 2026) to vest, marking a bit of a surprise since they had demoted him for Penix late in the 2024 season.

Cousins finished with 10 touchdown passes and five interceptions during his 2025 Penix relief stint, but his completion percentage (61.7) and yards per attempt (6.4) represented career-low figures — in terms of seasons he has been his team’s primary starter. He could still appeal to a team as a bridge option, seeing as the ex-Washington draftee has 167 starts on his resume and three playoff appearances as a primary starter. Cousins was coming off an Achilles tear in 2024 and developed arm trouble that season as well. While the current version of Cousins is unlikely to excite QB-needy teams, he could serve as a passable stopgap.

The financially shrewd passer’s days of commanding starter-level deals are probably over, however. Cousins famously scored a three-year, $84MM Vikings deal that came fully guaranteed in 2018, doing so after being twice franchise-tagged on his way out of Washington. After Cousins and the Vikings could not agree on a fourth contract in 2024, he hit free agency and landed with a Falcons team that saw hopeful starter Desmond Ridder disappoint. The Falcons then drafted Penix eighth overall six weeks later. Cousins was blindsided by the unusual move and said it would have affected his decision to sign had he known a top-10 QB pick was on tap.