Looking at Falcons QB Michael Penix’s projected cap hit in 2024

On Day 1 of the 2024 NFL draft, the Atlanta Falcons used their first-round pick on Michael Penix. While there were other positions the team could have addressed in Round 1, Atlanta opted to take the prolific quarterback out of Washington and Indiana.

The Falcons have their man, but what are the salary cap projections for Penix this season? Over The Cap breaks down the projected rookie salary for each player based on their respective draft slot.

Since Penix was the No. 8 pick in the draft, he will account for $4,160,477 of the Falcons cap space this season. This number isn’t tied to any specific position group, it’s just the allotted cap hit for that particular draft spot.

That $4,160,477 will take up almost half of the projected $11,483,170 of cap space that it will take to sign this year’s draft class.

Currently, the Falcons only have just over $5 million in available cap space, so expect moves to be made before a number of the class is signed.

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