It’s no surprise that the Falcons lost more good players than they signed during the first wave of NFL free agency this week. That’s part of the price paid for the biggest personnel mistake made by the team’s previous decision-makers.
The “dead money” left on the salary cap by the release of quarterback Kirk Cousins ($22.5 million this year) doesn’t leave much room for the Falcons to sign top free agents or retain more than one of their own.
They picked tight end Kyle Pitts as the pending free agent to re-sign for big money. That was the right call.
But the Falcons lost two good starters (Kaden Elliss and David Onyemata) and two key contributors (Tyler Allgeier and Dee Alford) in free agency. The team didn’t add comparable replacements, so the net result is the Falcons have a weaker roster now than before the start of free agency.
Meanwhile, two of their NFC South rivals have added more talent than they’ve lost in free agency.
It’s one thing for the Saints, last in the South in 2025, to improve their roster. But the Panthers did the same after winning the division by virtue of a three-way tiebreaker with the Buccaneers and Falcons.
Carolina made a big splash by agreeing to terms with linebacker Devin Lloyd and edge rusher Jaelan Phillips. Pro Football Focus rates Lloyd as the best linebacker and fourth-best free agent overall. Phillips ranks third among available edge rushers and 15th overall.
Lloyd reportedly agreed to sign for three years and $45 million ($25 million guaranteed). That’s a great price for a defender who’s very good against the run and pass. Lloyd, 27, played 63 of 68 possible games for the Jaguars after they drafted him with the 27th overall pick in 2022.
The Panthers may have agreed to pay too much for Phillips ($80 million guaranteed) given his history of injuries. But there’s no doubt he’ll elevate Carolina’s pass rush when he’s on the field. The Panthers ranked 27th in sacks per pass attempt last season and next-to-last in quarterback pressures, per Pro Football Reference.
The Panthers also reached a deal with one of the best available backup quarterbacks, Kenny Pickett. They added center Luke Fortner as a possible replacement for Cade Mays (Lions). Losing A’Shawn Robinson hurts Carolina’s defensive line depth but the best player in the group, Derrick Brown, is under contract.
Running back Rico Dowdle is a big loss for the Panthers. That’s more than offset by the addition of two high-level defenders. The Panthers also acquired a quarterback who can perform competently should Bryce Young get hurt or regress again.
Carolina is the biggest winner among the South teams in free agency. The Saints did well, too.
They helped second-year quarterback Tyler Shough by adding running back Travis Etienne and guard David Edwards. Both are among the best players available at their position.
The Saints also agreed to terms with Elliss. He’s a lesser player than Demario Davis (Jets) but he’s good, and younger. Cornerback Alontae Taylor (Titans) is the best Saints free agent loss to leave.
The Buccaneers squandered the South in 2025 by losing seven of their last nine games. Now, they’ve experienced a net loss of talent in free agency.
Wide receiver Mike Evans, a franchise mainstay, departed for the 49ers. He was hurt for much of last season but was great the year before that.
The Bucs also lost elite cover cornerback Jamel Dean. They re-signed Cade Otton at a price that is too high for a decent tight end ($20 million guaranteed).
At least the Falcons didn’t overpay for any of the free agents they came to terms with.
Jake Bailey’s deal ($5 million guaranteed) is the going price for a good punter. Austin Hooper agreed to a reasonable deal ($3.25 million for one year) for a No. 2 tight end. Quarterback Tua Tagovailoa ($1.3 million for one year) comes cheap as a solid backup with the potential to improve.
The departing free agents leave significant holes for the Falcons to fill. Allgeier (32nd), Onyemata (52nd) and Elliss (91st) all ranked among PFF’s top 100.
Elliss is among the league’s best pass-rushing linebackers. Onyemata was one of the best pieces of an overall weak Falcons run defense in 2025. Allgeier was a good change-of-pace power runner behind Bijan Robinson, and Alford is coming off a career year in coverage.
The Falcons still have roughly $20 million in cap space, per Spotrac. They can continue shopping in the bargain bin for free agents. They’ll seek prospects from the draft who can help them as rookies, though they don’t have a first-round pick.
The Falcons can improve their roster between now and the start of the season. For now, they have less talent than they did before free agency while the defending South champion Panthers have more.
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