Week 3 saw the Falcons suffer a blowout defeat to the Panthers. Kirk Cousins took over quarterback duties late in the shoutout loss, marking his first game action with Atlanta this year. 
Starter Michael Penix Jr. was healthy when his Week 3 participation came to an end, but he was benched with the game out of hand. Penix completed 18 of 36 attempts for 172 yards and a pair of interceptions. Cousins took over and went five-for-seven in mop-up duty. For the time being, his future is set to consist of further backup duties as a member of the Falcons.
Cousins requested a trade this past offseason once it became clear Atlanta would hand the reins over to Penix on a full-time basis. That was the situation at the end of the 2024 campaign, and after being selected eighth overall Penix naturally represents the Falcons’ long-term plan under center. At no point did a Cousins trade appear imminent over the summer, though, and that is still the case at this point.
Ian Rapoport of NFL Network reports (video link) Atlanta has yet to receive any calls on the four-time Pro Bowler. Every current injury being dealt with by a starting quarterback – aside from Joe Burrow‘s – is a short-term one. Cincinnati does not intend to add a veteran passer, so a market does not exist at this point for an in-season deal (presuming Cousins, who holds a no-trade clause, would sign off on one anyway).
Of course, finances are a major factor in this case. Cousins’ 2025 salary ($27.5MM) is guaranteed in full, and his $10MM roster bonus for next March is already locked in. Keeping in line with their earlier stance, the Falcons would only entertain a trade involving the 37-year-old if an interested team were to take on the remainder of his compensation. Rapoport adds a “premium” draft pick would also be required for Atlanta to sign off on a Cousins trade.
Barring another major injury to an established starter, then, the status quo should remain the expectation in this situation. ESPN’s Dan Graziano notes the Falcons would need to upgrade their QB2 situation behind Penix for a Cousins trade to be feasible, something which has not appeared imminent. For now, attention will turn to a rebound on offense for Atlanta coupled with a stronger showing by Penix. Failing that, the team will have a highly experienced backup to turn to.