NFL Rumors: Kirk Cousins free agency report is good news, bad news for Vikings

The Minnesota Vikings weren't able to prevent Kirk Cousins from hitting the free agent market with the quarterback reportedly set to explore his options this week.

On Sunday, Tom Pelissero of NFL Network reported that Cousins and his agent remain in contact with the Vikings but he's ready to hear from other teams when the legal tampering period begins on Monday, March 11.

That means the race to sign Cousins is officially on.

Falcons and Broncos interest in Kirk Cousins complicates life for Vikings

Pelissero named the Falcons and Broncos as teams likely to pursue Cousins while the Vikings remain in the running.

The issue for Minnesota is timing. While the Falcons and Broncos, or any other suitor, can take their time and get into a bidding war for Cousins, the Vikings can't afford for this to drag out.

Cousins' 2023 deal voids on Wednesday, March 13. If the Vikings don't sign him to an extension before that, they'll be on the hook for $28.5 million in dead cap money on top of the cap hit for a new contract. That's simply not affordable. If he's not re-signed by Wednesday, he's not coming back.

Kirk Cousins is going to need guaranteed money despite injury

Pelissero expects Cousins to seek a contract around $40 million per year, but the most important figure will be guaranteed money. He's been playing on a fully guaranteed contract and he's going to want to keep the guaranteed dollars flowing.

That's going to be a bigger hurdle than it's ever been. With Cousins at 35 years old and coming off a season-ending Achilles injury, the risk of guaranteed money is fairly significant. Minnesota at least knows the extent of the injury and his prognosis. It's still a gamble to bet on a quick rebound.

Will the Vikings be able to outbid the desperation of the Falcons or Broncos on the quarterback front? That's the big question.