Falcons Winners and Losers Through First Week of Free Agency

The Atlanta Falcons are nearly a week through the free agency period, and they have been very busy. Through Friday, they have added 14 new players and resigned another. With several pressing needs, there is still plenty of ways to go.

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As we put a bow on the early period of this window, the winners and losers of this process have started to emerge. Falcons OnSI took a look at those.

WINNER – 2027 Draft Class and Salary Cap

Atlanta Falcons general manager Ian Cunningham | Kirby Lee-Imagn Images

Despite the voluminous appearance of the additions, the Falcons have been rather quiet in terms of spending. Of the reported agreements, only punter Jake Bailey and kicker Nick Folk signed multi-year contracts, and not a single deal carries an average annual value worth more than $3 million.

The affordability of the players coming in has done two things for Ian Cunningham: build a backing of compensatory picks for 2027 (what figures to be a loaded draft class) and not compromise what projects to be among the largest cap amount space for next offseason ($157 million). In the process of doing this, the Falcons are giving themselves the chance to see what they have on the roster and where their needs lie before loading up in 2027.

LOSER – Falcons Standing in the NFC South for 2026

Carolina Panthers quarterback Bryce Young | Brett Davis-Imagn Images

Based on the players coming in and the players going out, the Falcons’ standing in the NFC South seems to have dropped. There is still a long way to go in the offseason and plenty of moves to be made, but the Carolina Panthers and New Orleans Saints have made some pretty ambitious moves, while the Tampa Bay Buccaneers remain a threat in the division.

The Falcons will still feature an array of talented players, but they still have a question mark at quarterback. If either Tua Tagovailoa or Michael Penix Jr. can ascend in 2026, then Atlanta could see their fortunes rise with it.

WINNER – Overall Depth

Philadelphia Eagles linebacker Azeez Ojulari | Eric Hartline-Imagn Images

Atlanta had a major need for depth in 2025, and Ian Cunningham has made a point to get that for them this offseason. The Falcons needed that adult in the room, and the additions that this team has made thus far all have several years of NFL experience. The Falcons will not have significant cap space left to make any major moves, but more bodies will likely be added in the days and weeks ahead.

LOSER – Michael Penix Jr.

Atlanta Falcons quarterback Michael Penix Jr. | Brett Davis-Imagn Images

Micahel Penix Jr. will be fighting for his job this offseason, and he will be giving his competition a head start. While he is still rehabbing from his torn ACL, Tua Tagovailoa will be taking the starting reps for the Falcons. He will lead the offense through OTAs and the offseason program, giving him the chance to familiarize himself with the Kevin Stefanski offense. When Penix does return, he will need to get caught up in a hurry. He will get a chance to retain his job, but the pressure will be on.

However, given the options, Tagovailoa may be one of the best-case scenarios for the third-year quarterback. He threads a particular needle of a player who could start, but will not necessarily have a history that demands it. If the Falcons had added a Geno Smith or Kyler Murray, then it may have meant something much different for Penix.

WINNER – Drake London

Atlanta Falcons wide receiver Drake London | Brian Fluharty-Imagn Images

Drake London was a man on an island last season. With the disappearing act of Darnell Mooney and Ray-Ray McLoud in 2025, London was the only reliable wide receiver that the Falcons had every Sunday. As a result, he received a lot of attention – both from the Falcons and whichever defense they so happened to be playing that week.

Ian Cunningham was able to get London some running mates who will take some of the heat off of his number one receiver. Jahan Dotson has outstanding speed, and he projects well as an ideal second option alongside London. Olamide Zaccheaus, meanwhile, is a prototypical third receiver. This duo will allow London to see more one-on-one matchups, opening up the passing offense in the process.

LOSER – Kyle Pitts Sr.

Atlanta Falcons tight end Kyle Pitts Sr. | Mark J. Rebilas-Imagn Images

The Falcons’ star tight end had the chance to cash in this offseason, but the Falcons put a franchise tag on him. Barring an extension from the team that drafted him, Kyle Pitts Sr. will enter the 2026 season needing to replicate what was a career season for him in 2025. If he can do that, he has the chance to become the NFL’s highest-paid tight end. If he cannot, then the franchise tag may have cost him some money.

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