A.J. Terrell contract details, grade: Atlanta Falcons extend star cornerback

It has been a productive couple of weeks for the Atlanta Falcons. After inking Kirk Cousins to a four-year, $180 million contract in the early hours of free agency, the Falcons are doubling down with a late push to shore up the defense.

In an eight-day period, the Falcons have traded for Pro Bowl edge rusher Matthew Judon, signed Pro Bowl safety Justin Simmons, and extended upstart cornerback A.J. Terrell. The latter move was finalized on Thursday, with Terrell inking a four-year, $81 million contract that includes $65.8 million in full guarantees, per ESPN's Adam Schefter.

The story was initially broken by NFL Network's Ian Rapoport.

Grading the Falcons' new contract for A.J. Terrell

Terrell's new deal features the largest guarantees on a four-year contract in the history of his position. The Falcons are pouring serious money into their defense (and the roster as a whole), with owner Arthur Blank truly putting up, rather than shutting up. Atlanta has spent the last few years on a wayward trajectory, but few teams are more serious about winning — and winning at the highest level — in 2024.

Earlier this offseason, Falcons general manager Terry Fontenot spoke glowingly of Blank's blank-check nature. He essentially has carte blanche to improve the Falcons' roster, which is all too rare in pro sports. More billionaire owners should take a page out of Blank's book.

"He’ll spend anything,” Fontenot said (h/t Tyler Dunne, Go Long). “He’ll do anything. If we can tell him, ‘Hey, look, these Skittles cost a million dollars a bag, but if we get these Skittles, we’re going to be able to win a lot this year,’ he’s going to say, ‘Go get a box of Skittles and here’s some money.'"

Terrell quickly ascended the Falcons' defensive ranks across four NFL seasons. In 2023, he appeared in all 17 games, registering 45 tackles. He made second team All-Pro in 2021. This contract makes Terrell the second-highest paid CB in the NFL, trailing only Green Bay Packers star Jaire Alexander by less than $1 million annually.

It just so happens that Terrell shares his agents, David Mulugheta and Trevon Smith of Athletes First, with Falcons tight end Kyle Pitts, whose own contract deliberations are on the horizon. It is abudantly clear that Atlanta will spend aggressively to fortify its roster and pursue a championship. There is a refreshing sense of hope pervading the Atlanta fandom. Not since Matt Ryan's heyday has there been such possibility with his team.

The Falcons made headlines with their decision to select Michael Penix Jr. with the No. 8 pick in April. Since then, however, the front office has drilled just about every move. The Falcons have the look and feel are a real sleeper in the winnable NFC.

Grade: A