Few NFL players have manipulated free agency to their advantage with as much success as quarterback Kirk Cousins, who worked through consecutive franchise tags with Washington before landing a fully guaranteed contract from the Minnesota Vikings in 2018.
Cousins inked multiple extensions to remain in purple but reached the end of his road with the Vikings during the 2024 offseason. What does his contract look like now that he’s with the Atlanta Falcons?
Kirk Cousins’ Contract Details
Cousins held significant leverage during the offseason. His contract with the Vikings was structured to prevent a franchise tag, allowing him to hit the open market as the No. 1 available signal-caller.
Cousins landed a four-year, $180 million contract from the Falcons that included $90 million in fully guaranteed money. His $45 million average annual value makes him the NFL’s 12th-highest-paid quarterback in 2024.
The 36-year-old’s $90 million guarantee is comprised of his $50 million signing bonuses and his base salaries in 2024 ($12.5 million) and 2025 ($27.5 million).
Cousins will be due a $10 million roster bonus in 2026. That total is already guaranteed for injury and becomes fully guaranteed on the fifth day of the 2025 league year. He can earn another $10 million roster bonus on the fifth day of the 2027 league year.
THE FALCONS TIE IT WITH 34 SECONDS LEFT.
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Cousins also received a full no-trade clause. He can collect $2 million annually for guiding the Falcons to a Super Bowl victory.
His contract isn’t as backloaded as some other veteran NFL deals. Cousins has a $25 million cap charge in 2024, followed by figures of $40 million, $57.5 million, and $57.5 million over the ensuing three years.
Atlanta’s signing of Cousins was shrouded in minor controversy. The Falcons were eventually docked a 2025 fifth-round pick for tampering after the NFL found Atlanta improperly communicated with Cousins and fellow free agent additions Darnell Mooney and Charlie Woerner.
The Falcons were fined $250,000, while general manager Terry Fontenot was fined $50,000.
Can the Falcons Cut or Trade Cousins?
Let’s get to the elephant in the room.
After inking Cousins to a mega deal in March, the Falcons shockingly used the No. 8 overall pick in the 2024 NFL Draft on fellow quarterback Michael Penix Jr.
Atlanta has maintained that Cousins remains its starting quarterback for the foreseeable future. Fontenot and head coach Raheem Morris painted the Penix selection as both insurance and a choice for the future.
Still, it’s worth examining when the Falcons can exit Cousins’ contract and turn things over to Penix.
If Atlanta decided to cut Cousins after the 2024 season, it would likely use a post-June 1 release. The Falcons would take on $40 million in dead money in 2025 and another $25 million in 2026. (A straight release would leave $65 million dead on Atlanta’s books in 2025, a net loss of $25 million in cap space.)
Realistically, it’s hard to imagine the Falcons absorbing that kind of financial hit unless Cousins completely tanks over the rest of the season.
The 2026 offseason stands out as a more likely turning point. By cutting Cousins before the league year begins, Atlanta would save $32.5 million in 2026 cap space. A post-June 1 release would open up $45 million in cap room.
What about a trade? As noted, Cousins owns a complete no-trade clause. However, if the Falcons make it clear that they’re rolling with Penix under center, Cousins might be amenable to a trade, especially given that he’d essentially be able to choose his destination.
Theoretically, a trade would be viable as soon as the 2025 offseason. Atlanta would take on $37.5 million in dead money by trading Cousins, which would represent a net cap savings of $2.5 million.
Remember, Penix’s slotted rookie contract gives Atlanta a ton of flexibility. He will earn just $22.8 million in total through 2027. Even if the Falcons moved on from Cousins and absorbed significant amounts of dead money, their overall QB expenditure wouldn’t necessarily get out of hand.