Falcons, Kirk Cousins could end up playing a game of contract chicken

A handful of accomplished quarterbacks on the wrong side of 35 will be available in free agency. Another one could be.

The Falcons need to decide what to do with Kirk Cousins. The most obvious choices are these: (1) pay him $27.5 million to serve as the backup to Michael Penix Jr. in 2025; or (2) cut Cousins before a $10 million injury guarantee in 2026 transforms into a full guarantee.

That $10 million flips to a full guarantee on the fifth day of the new league year, which begins on March 12.

The Falcons would surely prefer to trade Cousins. He can block any deal by invoking his no-trade clause.

It could become a game of chicken for the Falcons and Cousins. They could say they're content to keep him this year. If so, he'd get the $27.5 million and the next $10 million would vest, but he wouldn't play unless Penix is injured. If not — and if they cut him before the March 16 trigger — he'd be able to sign with anyone he chooses, and he'd presumably have a chance to start.

Last year, Cousins received $62.5 million in total compensation from the Falcons. The payment came in the form of a $50 million signing bonus and a $12.5 million base salary for 2024.

A trade before June 1 would spark a $37.5 million cap charge for 2025. Cutting him with a post-June 1 designation would come with a $40 million cap charge, minus whatever Cousins would make with a new team.

The question would then become whether a new team will pay enough to overcome the $27.5 million offset, or whether Cousins would take a one-year deal for the $1.255 million minimum salary and stick the Falcons with the difference — like Russell Wilson did to the Broncos last year.

Here's the difference. The Broncos owed Wilson $39 million last year. No one was going to pay him more than that. This year, would a team pay Cousins more than $27.5 million? If so, how much more? And would there be guarantees beyond 2025?

Much of it comes down to the question of whether another team believes Cousins has gas in the tank. Last year's struggles could have been the result of compensation for his Achilles injury. Or it could have been Father Time taking a lead that he won't be relinquishing.

If another team would be willing to give Cousins considerably more than $27.5 million for 2025, trading for his contract becomes a more attractive option. In the end, it possibly comes down to whether Cousins is willing to waive his no-trade clause.

If he won't, the question then comes down to whether the Falcons are willing to pay him $27.5 million, and to guarantee another $10 million in 2026, to be the understudy to Penix for the coming season.