How much will the Falcons pay rookie quarterback Michael Penix Jr.? Salary and remaining years

Some eyebrows were raised at the The Atlanta Falcons selected 23-year-old Michael Penix Jrthe eighth overall pick in the 2024 NFL Draft. The move came as a surprise since the franchise had done so just six weeks earlier signed veteran quarterback Kirk Cousins to a four-year contract worth $180 million.

Michael Penix Jr. contract details

The Falcons see Penix as Cousins' eventual successor. For now, the Washington graduate will serve as his understudy, shadowing and learning from the 36-year-old. Penix is ​​well aware of his place in the pecking order: “He’s been in the league for a while. He played a lot of football. I feel like I'm going to come in and learn. I will learn from him.”

In June, Penix Jr. signed a four-year, fully guaranteed rookie contract $22.8 million. The deal included a Signing bonus of $13,461,916 and an average annual salary of $5,720,659. This year he will earn a base salary of $795,000, which will be increased by his signing bonus.

Penix showed early promise in Indiana

The 24-year-old accepted the prestigious award Maxwell Award in 2023 as the best all-around 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 loss to Michigan in the semifinals.

He was also one of the finalists Heisman Trophyand placed second in the voting behind LSU's Jayden Daniels.

Penix co-led the FBS 4,903 passing yards in 2023 and took second place the year before with 4,641. He is the first player with more than 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 first year with the Hoosiers was cut short by a torn ACL. The following year he was sidelined due to a dislocated sternoclavicular joint in his non-throwing shoulder. In 2020, he repaired his ACL in Indiana's 11-27 win over Maryland.

He made his Debut for the Falcons in the 20-13 loss to the Dolphins – the first game of the preseason – and finished 9-16 for 104 yards.