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Michael Penix Jr. and the Atlanta Falcons have reached an agreement on a four-year, $22.88 million rookie contract, according to Ian Rapoport of NFL Network.
Penix's contract makes provision for a fifth-year option, and his signing bonus is $13.46 million. With this deal, all eight players in the Falcons' draft class are now under contract.
The NFL community was taken by surprise when quarterback Michael Penix Jr. was chosen by the Falcons as the eighth overall choice in the first round of the draft in April. The player was projected to be taken by an organization that would install him as the starting quarterback right away, but Atlanta chose him, and it may take him up to four years to become a starter there.
The Falcons selected Penix less than two months after acquiring Kirk Cousins via free agency. Given that the team will pay Cousins $100 million over the next two years, Penix is anticipated to be the veteran's backup for the foreseeable future.
Michael Penix Jr.'s college football stats
Michael Penix Jr. played for the University of Washington for two years and Indiana for four during his six years of college. During that time, he started 45 games, completing over 63 percent of his throws for 13,741 yards, 96 TDs, and 34 INTs.
The 24-year-old quarterback came in second in the 2023 Heisman Trophy voting and took home the Maxwell Award, which is presented to the country's most outstanding player each year.
Penix has reassured fans that he is unwavering in his dedication to the team, despite the initial surprise and conjecture accompanying his selection by the Atlanta Falcons in the draft. When asked if he worried about not being a starter, Penix replied (via Bleacher Report):
"My goal is just to be an unselfish teammate. If I play to the best of my ability, I don't worry about it. All that stuff will get worked out.”
Penix Jr.'s route to a regular playing position with the Falcons is currently unclear. He will likely remain the backup for as long as possible, barring an injury or strange decline in form for Kirk Cousins, who is anticipated to start. The Falcons may be able to get out of Cousins' contract after the 2026 campaign, but by then, Penix Jr. would be approaching the end of his rookie deal.
