Inside Cousins' Savvy Raiders Deal

Tom Pelissero walked through the mechanics of the Kirk Cousins to Raiders deal, and the structure is more interesting than the headline numbers suggest. The Raiders had been pursuing Cousins ever since the Falcons released him, but there was a wrinkle. Cousins was due $10 million fully guaranteed in 2026 whether he played or sat on a couch. He wasn't going to play for free, which meant any landing spot needed to clear that $10 million threshold.

Cousins' agent Mike McCartney and the Raiders solved it with a creative structure. The practical version is a one-year, $20 million deal. The Raiders are paying $11.3 million of that. Cousins took a minimum salary of roughly $1.3 million this year, leaving the rest on the Falcons' books through offsets. A $10 million roster bonus hits on the third day of the league year in March 2027, which defers the cash and cap but effectively gives Cousins $20 million to play this season.

The team option is where it gets interesting. If Cousins is still on the roster on the fifth day of the league year next March, an additional two years and $80 million for the 2027 and 2028 seasons become fully vested. Pelissero's read is that the option is unlikely to be picked up, but he stopped short of ruling it out.

The reason to leave the door cracked is Clint Kubiak. Cousins had one of his best seasons playing for Kubiak in Minnesota, where he won his first playoff game over the Saints before the 49ers ended the run. He's 37, but he played noticeably better last year once he got his opportunity than he had in his first Falcons season coming off the Achilles in 2024.

The Raiders have the number one overall pick and everyone expects them to take Fernando Mendoza. Kubiak said at the league meeting that in a perfect world, a rookie would sit behind a grown adult and watch how he operates before getting a shot. If Cousins plays well enough that the Raiders don't need Mendoza in 2026, the calculus shifts. A two-year, $80 million deal, or roughly two for 90 prior to the third day of the league year, becomes potentially tradeable.

Pelissero also flagged how the additional $80 million is structured. Almost all of it sits in 2028. Cousins is back on a minimum salary in 2027 alongside the $10 million roster bonus, with $78.5 million pushed into the final year. That gives the Raiders time to maneuver. They could restructure during an exclusive negotiating window. They could move on with a we-love-you-but-it's-Fernando's-time conversation. They could trade him.

The floor for Cousins is clean. If the Raiders don't pick up the option, he's a free agent again next March, this time with no offsets. Optionality for both sides, which is exactly what a 37-year-old quarterback and a rebuilding franchise need.