NFL
How much are the Falcons paying rookie QB Michael Penix Jr.? Salary and years left
The 24-year-old signed a long-term deal with Atlanta in June. He has now officially replaced Kirk Cousins as the Falcons' QB1.
Some eyebrows were raised when the Atlanta Falcons selected 23-year-old Michael Penix Jr, the eighth overall pick in the 2024 NFL draft. The move came as a surprise as only six weeks earlier, the franchise had signed veteran quarterback Kirk Cousins to a four-year deal worth $180 million.
Michael Penix Jr’s contract details
For the first few months, Penix was Cousins’ understudy, shadowing the 36-year-old and learning from him. But that all changed recently when coach Raheem Morris confirmed that the Washington graduate is now his starting QB. His first start will come at Mercedes-Benz stadium on Sunday in the Week 16 matchup against the New York Giants.
“As you can imagine, it was some nerves, it was excitement, but I’m just super blessed to be in this position, super blessed to be on this team for the opportunity,” a delighted Penix said.
In June, Penix Jr. signed a four-year fully-guaranteed rookie contract worth $22.8 million. The deal included a $13,461,916 signing bonus and an average annual salary of $5,720,659. This year, he will earn a base salary of $795,000, boosted by his signing bonus.
Penix showed early promise at Indiana
The 24-year-old picked up the prestigious Maxwell Award in 2023 for being the best all-round college player of the year. Penix Jr. and the Huskies finished the regular season 13-0. The team’s run in the CFP playoffs ended with a 34–13 defeat to Michigan in the semi-finals.
He was also among the finalists for the Heisman Trophy, coming second in voting to LSU’s Jayden Daniels.
Penix led the FBS with 4,903 passing yards in 2023 and ended second the year before with 4,641. He is the first player with 4,500+ passing yards in consecutive seasons since Patrick Mahomes (4,653 in 2015 and 5,052 in 2016 for Texas Tech).
Penix has also had his fair share of injuries over the years. In October 2018 his freshman year with the Hoosiers was cut short by an ACL tear. The following year, he was sidelined with a dislocated sternoclavicular joint in his non-throwing shoulder. In 2020, he retore his ACL in Indiana’s 11-27 win against Maryland.
He made his debut for the Falcons in the 20-13 loss to the Dolphins - the first game of the preseason, finishing 9-for-16 for 104 yards.