The Falcons have signed rookie quarterback Michael Penix Jr., according to multiple sources. Penix, the No. 8 overall pick, has agreed to a four-year, $22.88 million contract with a fifth-year option included. He will also receive a signing bonus of $13.46 million. With this signing, the Falcons have now locked in their entire eight-player draft class.
The selection of Penix by the Falcons was surprising during the 2024 draft, especially given that the team had recently signed Kirk Cousins in free agency just six weeks prior. Cousins is expected to remain the starter while Penix sits behind him for two years. Penix is 24 years old and last served as a backup in 2018. He had an impressive college career and won the Maxwell Award before finishing second in Heisman voting in 2023. In six seasons of college football – four at Indiana and two at Washington – he made 45 starts and completed 63.3 percent of his passes for 13,741 yards, 96 touchdowns, and 34 interceptions.
The Falcons have struggled with their quarterback position in recent years after trying to replace veteran Matt Ryan with multiple quarterbacks without success. By drafting Penix, they not only have a successor for Cousins but also a solid plan moving forward into the future of their franchise quarterback position.
