With two weeks left in the 2024 NFL regular season, it's clear whether new veteran acquisitions, either by trade or signed as free agents, have paid dividends. Not all high-priced moves or players acquired for significant draft capital pan out.
Several veteran newcomers who aren't living up to expectations have been identified. Contribution, availability, salary and draft capital to acquire were taken into account when making the selections.
The Falcons signed Cousins to four-year, $180 million contract averaging $45 million per year with $100 million in guarantees where $90 million was fully guaranteed at signing in March. The expectation was Cousins would lead the Falcons to the playoffs for the first time since 2017. Because the Cousins signing suggested the Falcons were in win-now mode, it was a surprise that the eighth overall pick in the 2024 NFL Draft was used to take quarterback Michael Penix Jr.
The Falcons appeared to be in control of the NFC South with a 6-3 record and essentially a three-game lead over the 4-5 Tampa Bay Buccaneers nine weeks into the season because of a sweep of two games played between them. Things changed with a horrible five-game stretch by Cousins in which the Falcons only won one game to drop behind the Buccaneers with a 7-7 record. Cousins was benched for Penix after completing 62.7% of his passes (99 of 158 pass attempts) for 1,180 yards with only one touchdown and nine interceptions to post a 63.8 passer rating in those five games. He has thrown a league-leading 16 interceptions this season. The Falcons are back on top of the NFC South after Penix won his first start against the New York Giants and the Buccaneers were upset by the Dallas Cowboys in Week 16.
Conventional wisdom suggests that the Falcons are going to release Cousins with a post-June 1 designation before his injury guaranteed $10 million fifth day of the 2026 league year roster bonus becomes fully guaranteed this upcoming March 16 on the fifth day of the 2025 league year. Cousins' contract contains a no-trade clause that he may not be willing to waive because the Falcons weren't forthcoming about potentially selecting a quarterback in the first round. His recent play has likely diminished his trade value anyway.
The Falcons will be on the hook for the $27.5 million Cousins is making in 2025 if he is released because this money is already fully guaranteed. There will be $65 million of dead money, a salary cap charge for a player no longer on a team's roster, consisting of the $37.5 million in signing bonus proration from Cousins' 2025 through 2027 contract years and his fully guaranteed $27.5 million 2025 base salary. The $65 million would be taken over two years with use of a post-June 1 designation where the Falcons would have a $40 million cap charge relating to Cousins in 2025 and a $25 million cap hit in 2026. The Falcons will have paid Cousins $90 million for just one season by releasing him in March.
The Jets acquired Reddick from the Philadelphia Eagles for a conditional 2026 third-round pick although his dissatisfaction with the three-year, $45 million contract (worth up to $46.5 million through incentives and salary escalators) he received from the Philadelphia Eagles during 2022 free agency was well known. Nobody could have anticipated Reddick's holdout lasting 90 days. It finally ended seven weeks into the season when the Jets added $5,341,628 of performance bonuses into his contract. Reddick, who is coming off four straight seasons with double-digit sacks, has one-half sack in the eight games he has played since ending his holdout.
The Kansas City Chiefs placed a $19.802 million franchise tag on Sneed in March with the intention of trading him. Sneed was dealt to the Tennessee Titans at the end of March for a 2025 third-round pick with the teams also swapping 2024 seventh-round picks. The Titans gave Sneed a four-year, $76.4 million contract averaging $19.1 million per year with $55 million in guarantees. Out of the $55 million, $44 million was fully guaranteed at signing. Sneed didn't resemble the shutdown cornerback he was in 2023 during the five games he played before going on injured reserve with a quadriceps injury.
Judon's perpetual unhappiness with the four-year, $54 million contract (worth up to $56 million through incentives) he signed in 2021 free agency led to the New England Patriots trading him to the Falcons for a 2025 third-round pick during the preseason. The four-time Pro Bowler didn't insist on a new deal from Falcons because they didn't have any type of track record with him.
Judon hasn't improved a weak pass rush like the Falcons expected. Atlanta is last in the NFL with 26 sacks. Judon's 4.5 sacks are one-half sack more than he had in 2023 when he only played four games because of a torn right biceps.
Armstead quickly found a home in Jacksonville after he refused to take a pay cut to remain with the San Francisco 49ers. The Jaguars signed Armstead to a three-year, $43.5 million contract worth up to $51 million with incentives. The deal has $28 million fully guaranteed.
Jacksonville's usage of Armstead has been curious. He has spent more time in an edge rusher rotation playing behind Josh Hines-Allen and 2022's first overall pick Travon Walker than on the interior of Jacksonville's defensive line. Armstead's production has suffered in the process. He had 42 quarterback pressures (combined sacks, quarterback hits and quarterback hurries), according Pro Football Focus, and five sacks in 12 games primarily as a defensive tackle in 2023. It's 25 pressures and two sacks in 15 games this season.
The Jaguars signed Davis to a three-year, $39 million contract worth up to $50.75 million through base salary escalators and incentives where $24 million was fully guaranteed. Davis was brought in to help offset the loss of wide receiver Calvin Ridley to the Titans in free agency. He only had 20 catches for 239 yards and two touchdowns in 10 games before undergoing season ending surgery for a torn meniscus in his left knee.
The Rams signed Jackson to a three-year, $51 million deal with $34 million in guarantees, of which $25 million was fully guaranteed at signing. The original plan was for Jackson to play left guard with Steve Avila at center. Shortly before the start of the regular season, the two switched positions. A shoulder injury in the second week of the season kept Jackson out of the next six games until he returned in Week 10 versus the Miami Dolphins. Johnson has been relegated to the bench in favor of 2024 sixth-round pick Beaux Limmer since struggling against the Dolphins.
The Eagles signed Huff to a three-year, $51.1 million deal worth a maximum of $57.1 million, thanks to incentives and salary escalators rather than address disgruntled Haason Reddick's contract. The Huff contract has $34 million fully guaranteed.
Huff was largely invisible before having surgery to repair a torn ligament in his left wrist 10 games into the season. In those 10 games, he had 2.5 sacks and 14 quarterback pressures according to PFF. Huff is close to returning from the wrist injury. At $17,033,333 per year, the Eagles are hoping that the Huff who had 10 sacks and 67 quarterback pressures last season will start showing up.
Davenport was a buyer beware signing because injuries have defined his previous six NFL seasons. The 2018 first-round pick received a one-year, $6.5 million contract worth a maximum of $10.5 million through incentives from the Lions. The hope was Davenport would provide a consistent pass-rushing presence playing opposite of Aidan Hutchinson. Davenport was lost two games into the season with a torn left triceps.
Baker and Dodson, a pair of Seahawks inside linebackers, were brought in on one-year contracts to replace Jordyn Brooks and future Hall of Famer Bobby Wagner, who left in free agency. Dodson's deal was for $4.26 million with an additional $1.25 million in incentives. Baker's contract was for $7 million. The Seahawks tried to keep Brooks before he signed with the Dolphins in free agency. No such effort was made with Wagner, who joined the Washington Commanders. The duo clearly wasn't the answer at inside linebacker. Dodson was released 10 weeks into the season. The Dolphins claimed him through waivers. Baker and a 2025 fourth-round pick were dealt to the Titans for inside linebacker Ernest Jones during the latter part of October seven games into the season.