Breaking down Michael Penix Jr.'s rookie contract with Falcons

Nowadays, rookie contracts aren't a matter of 'if' but 'when.' Things are relatively easy for teams looking to sign their new wave of rookies with the slotted contracts.

While it may have taken the Atlanta Falcons a couple of months to agree to a contract with their eighth-overall pick, it has happened. There were plenty of projections on what the contract would look like and they were correct.

As with every first-round pick, Penix has signed a four-year deal with a fifth-year option that has to be exercised before his fourth year. It is worth $22.8 million overall. The fifth-year option would be significantly more since it takes into account some of the top salaries at the position.

Michael Penix Jr. agrees to four-year, $22.8 million contract with the Falcons

All players drafted at the same spot have similar contracts. The eighth-overall pick is easy to compare for the Falcons since they have taken the eighth player in each of the previous three drafts.

Drake London signed a four-year, $21.5 million contract. Bijan Robinson signed a four-year, $21.9 million contract. And now Penix has signed a four-year, $22.8 million contract. Each year the numbers will rise, much like the rest of the financials in the sport.

The Dirty Birds' rookie first-round pick's contract looks like this from year to year:

As you can see, the numbers aren't too overwhelming. Penix will get most of his money right away and his cap hits are more than manageable—no surprises.

Rookie contracts are never the ones you worry about as a general manager. They are easier to get done, are already outlined, and are usually the cheapest players on a final roster.

We will see how much the Falcons get out of Penix during his rookie contract. At a position that is so expensive, having those two or three years of low cap hits allows you to sign high-priced free agents at other positions.