It was a move many saw coming, though perhaps not this soon. Just one day after a forgettable performance in a 15–9 victory over the Las Vegas Raiders—a game that showcased more of the Falcons’ offensive struggles than their potential—head coach Raheem Morris announced on Tuesday night that the team is ending Kirk Cousins’ run as their starting quarterback.
The decision represents a significant shift in Atlanta’s quarterback trajectory. The Falcons will now turn to rookie Michael Penix Jr., who is set to make his first career start Sunday at Mercedes-Benz Stadium against the New York Giants. As for Cousins, he will serve as a backup for the first time since 2014, when he was still cutting his teeth with Washington.
This dramatic turn of events comes less than a year into Cousins’ four-year, $180 million contract—inked in March with the expectation that he’d be the face of the franchise for at least two seasons. Instead, a series of underwhelming outings have forced Atlanta to reconsider their investment.
Unless Penix falters spectacularly, the Falcons will likely explore ways to move on from Cousins once the season concludes. Few teams can stomach paying a 36-year-old quarterback $45 million per year to hold a clipboard.
The financial fallout of parting with Cousins will be steep. According to Spotrac, if the Falcons cut him before June 1, 2025, they’d absorb a staggering $65 million in dead money. Post–June 1, that $65 million could be split across two seasons—$40 million in 2025 and $25 million in 2026—lessening the short-term cap hit but extending the pain.
FIt’s a dire scenario, but not unprecedented. The Denver Broncos, for instance, are already grappling with $85 million in dead money over 2024 and 2025 after cutting Russell Wilson just this past March.
Of course, outright releasing Cousins isn’t the Falcons’ sole option. They could attempt to trade the veteran quarterback—though finding a willing partner may be challenging after his disappointing 2024 performance.
Complicating matters further, Cousins holds a no-trade clause, giving him significant say in any potential deal. Still, if they managed to deal him away, the financial situation looks slightly brighter. Pre–June 1, a Cousins trade would leave Atlanta with $37.5 million in dead cap for 2025 and save them $2.5 million in cap space. After June 1, the benefits improve: the dead cap would be split into $12.5 million for 2025 and $25 million for 2026, while freeing up $27.5 million in cap room in 2025.
The Falcons are no strangers to tough quarterback transitions. Trading Matt Ryan to Indianapolis in March 2022 resulted in a $40.53 million dead-money charge, at the time the largest single-player dead-cap figure in NFL history. Such a precedent shows that Atlanta’s front office is willing to swallow painful financial hits to reset their roster when necessary.
None of this was the plan when the Falcons signed Cousins. The expectation was stability, veteran leadership, and playoff contention. Instead, they find themselves at a crossroads, potentially facing another massive dead-money scenario that would constrict roster-building efforts.
Yet, the rise of Penix signals that the team’s future may not rest on Cousins’ shoulders. If the rookie shines, Atlanta can move forward with a new identity—albeit at a heavy financial cost.
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As the season winds down, it’s clear the Falcons are willing to invest in their future, even if it means absorbing a staggering amount of dead money and enduring short-term financial pain. For now, Penix’s performance will help determine how urgent the Falcons are in resolving their expensive quarterback conundrum.
Whether they cut ties, find a trade partner, or some combination thereof, the cost of turning the page at quarterback will be high. In Atlanta’s quest for success, sacrificing cap room and veteran presence has become a necessary gamble.
