Falcons Expected to Release Quarterback Kirk Cousins Before March Deadline

2026-02-08 general

Atlanta, Saturday, 7 February 2026.
Atlanta is set to release Cousins to bypass a $67.9 million guarantee trigger, prioritizing long-term cap flexibility over veteran stability despite Michael Penix Jr.’s ongoing injury recovery.

Contract Restructuring as a Financial Catalyst

The anticipated departure of Kirk Cousins is less about on-field performance and more a masterclass in salary cap manipulation. To facilitate a clean break, the Falcons and Cousins recently engaged in a strategic contract restructuring that drastically altered the financial landscape of his deal. The team reduced Cousins’ 2026 base salary from $35 million to approximately $2.1 million, a move that provides immediate cap relief but creates a significant financial cliff [1][7]. This accounting maneuver shifted the difference of 32.9 million directly onto his 2027 base salary, inflating that figure to a prohibitive $67.9 million [1][7]. This massive sum is set to become fully guaranteed if Cousins remains on the roster at the start of the league year in mid-March, effectively functioning as a “poison pill” that forces the franchise to release him to avoid the payout [7].

A New Era in the Front Office

This decisive move marks one of the first major personnel decisions under the Falcons’ overhauled leadership structure. Following consecutive 8-9 seasons, the organization dismissed head coach Raheem Morris and general manager Terry Fontenot in January 2026 [1][7]. The franchise has since pivoted to a new regime led by franchise legend turned President of Football, Matt Ryan, who oversaw the hiring of Kevin Stefanski as head coach and Ian Cunningham as general manager [1][7]. While Ryan indicated the front office would have “a lot of discussions” regarding the quarterback position, the financial mechanics of Cousins’ contract suggest the decision to move on was architectural rather than debated [1][7].

The Risk of the Penix Timeline

Releasing Cousins leaves the Falcons with a precarious situation under center regarding their heir apparent, Michael Penix Jr. The young quarterback is currently rehabilitating a torn left ACL sustained in November 2025 and is projected to be sidelined for a total of 9 to 12 months [1][7]. Although Penix expressed confidence in January that he would return for the 2026 season opener, the timeline leaves little margin for error [1][7]. Cousins had provided a stabilizing presence during Penix’s absence, stepping in to lead the team to a 5-3 record in his starts and throwing for 1,721 yards, 10 touchdowns, and five interceptions in the 2025 season [3][7]. By cutting ties with the 37-year-old veteran, the Falcons are removing their primary insurance policy while their future starter remains on the injured list [1][7].

Cousins’ Market Outlook

At 37, Cousins finds himself entering free agency with a resume that still appeals to quarterback-needy teams. Despite the Falcons’ decision to move on, Cousins has expressed a desire to return for a 15th NFL season, stating in early February 2026 that he feels “rejuvenated” [4]. While he has explored broadcasting opportunities—including appearing on CBS’ pregame show—and acknowledges retirement is an option, his preference leans toward continuing his playing career [4][7]. The veteran’s ability to secure virtually fully guaranteed contracts in the past suggests he may still command a respectable market, provided he chooses to delay his transition to the television booth [7].

Sources

Contract Restructuring Salary Cap