Have we seen the last throw from Kirk Cousins in a Falcons uniform? If making the move to rookie quarterback Michael Penix Jr. goes well, then it’s likely Cousins is already one step out the door.
Cousins signed a four-year, $180 million deal in March after seeing his six-year run in Minnesota come to an end. This contract was a major reason Penix’s selection was so heavily criticized. 10 months later, drafting Penix could be the decision that saves Atlanta’s season.
With the rookie taking over, what can the team do with Cousins and what are the potential salary cap ramifications?
If the Falcons released Kirk Cousins with a Post-June 1 designation, they would have $40 million in dead money in 2025 and $25 million in 2026. https://t.co/CESkSbcUpQ
— Adam Schefter (@AdamSchefter) December 18, 2024
The absolute best thing the Falcons can do is have another team trade for Cousins after June 1. This way, they get some sort of value instead of simply cutting him for nothing.
By trading Cousins before June 1, the Falcons would only be held liable for the remaining prorated signing bonus of $37.5 million. This comes from the $12.5 million he is scheduled to make in the 2025, 2026, and 2027 seasons.
Trading him at the end of the season means Atlanta then takes all of that and his base salary gets pinned on another team. Since his cap hit for next year is $40 million, this would mean it would be an overall savings of just $2.5 million.
Trading Cousins after June 1 would see the dead cap be lowered to just $12.5 million in each of the 2025 and 2026 seasons and have a cap savings total of $27.5 million.
Either way, the Falcons are going to have to take on some sort of dead cap. If done after June 1, that dead cap is split between the current season and the following one.
Now, it’s very likely the Falcons won’t find a suitor for Cousins, so they may have to cut him outright. This method is much more damaging and would temporarily handcuff the team financially.
If cut before June 1, the Falcons’ dead money would consist of his current cap number of $40 million (prorated bonus of $12.5 million for 2025 and base salary of $27.5 million) in addition to the remaining prorated bonus of $12.5 million, thus making the total dead cap hit of $65 million.
Since his cap number for next season is $40 million, this means the Falcons would lose an additional $25 million in cap space.
As for after June 1, those numbers are much easier to stomach, but still not good as they will have to still take in $65 million in dead cap. In this scenario though, only $40 million will account for the 2025 season with the prorated remaining bonus of $25 million affecting the 2026 dead cap total.
While having to take the full brunt of the dead cap up front can be troublesome, some teams opt for that method because it’s a one-and-done situation and you don’t have to worry about it as much after that upcoming season.
For the Falcons, it comes down to whether or not they feel they have enough talent to absorb the cap hit next year. Or do they feel they need to balance it over two seasons to still have money to bring in reinforcements?