Kirk Cousins is known to be on the trade block, with the Falcons confirming this week their willingness to work out a deal under the right circumstances. Of course, finances will play a major role in determining if an acceptable agreement can be reached. 
Cousins has already seen his $10MM roster bonus vest for the 2026 season, but at issue in ongoing trade discussions is his scheduled $27.5MM base salary for next year. An acquiring team would take on a portion of that compensation as the Falcons aim to move forward with Michael Penix Jr. atop the depth chart. Atlanta has set the bar rather high with respect to the financial responsibility of Cousins’ next team, though.
Jason La Canfora of the Washington Post reports the Falcons are “insisting” on the acquiring team in a Cousins swap taking on between $20MM and $25MM of what he is owed for 2025. To little surprise, he adds that demand has stalled talks on a deal to date. Owner Arthur Blank is seen as the driving force behind the team’s stance on this front, and with the draft approaching and the list of teams in need of a veteran QB addition thinned out it will be interesting to see if it changes in the near future.
Cousins appeared to be set up for at least a two-year stint as Atlanta’s starter when he signed in free agency last spring. The Falcons’ decision to the draft Penix eighth overall immediately led to speculation about a parting of ways for Cousins, and that has emerged as a possibility this offseason. The 36-year-old has let the team know his desire to be released, but even doing so with a post-June 1 designation would result in a $50MM dead cap charge. A trade thus represents a more suitable path, but Cousins does not want to waive his no-trade clause until after the draft to avoid a repeat of last year’s situation.
A third-round pick has been mentioned as compensation in a potential Cousins trade, but teams will of course not be willing to part with notable capital in addition to taking on the majority of his base pay for next year. The possibility remains that the four-time Pro Bowler will stay in place and operate as a highly expensive backup behind Penix. Head coach Raheem Morris confirmed at the league meetings (via NFL.com) Atlanta remains on board with such a scenario in the event a trade cannot be worked out.
Of the few realistic suitors for the four-time Pro Bowler, the Browns have often been mentioned as the top one to watch. Kenny Pickett was acquired via trade last month, and at the moment he is in position to lead a QB depth chart which features an injured Deshaun Watson. Cleveland aims to move forward from the ill-fated Watson acquisition, something which could include a draft investment as early as the No. 2 pick in this year’s draft or a short-term move such as reuniting Cousins with former Vikings offensive coordinator Kevin Stefanski.
As noted by D. Orlando Ledbetter of the Atlanta Journal-Constitution during an appearance on 92.3 The Fan, the Browns are not in a position to trade for Cousins and take on some (perhaps most) of his remaining contract. In the unlikely event a release were to take place (something Ledbetter confirms is still his preference), Cleveland would presumably show interest in a low-cost deal given the offset language in Cousins’ contract. Considering Atlanta’s apparent asking price in a swap, though, it would come as a surprise if serious traction toward an agreement with the Browns or any other suitor were to be gained in the near future.