As the NFL franchise tag window officially opens in less than a week, no folder on newly minted GM Ian Cunningham's desk is thicker than the one labeled 'Kyle Pitts'.
Since being drafted 4th overall in 2021, Pitts has been the ultimate Rorschach test for NFL evaluators. To some, he is the positionless nightmare who revolutionized the "tight end" label; to others, he’s a victim of inconsistent quarterback play and scheme changes.
But as we hit the 2026 offseason, the time for "potential" has ended, and the time for a paycheck has arrived.
Kyle Pitts is forcing the Falcons' front office into a major dilemma
The $20 Million Question
Because Pitts was a top-five pick, his fifth-year option in 2025 already set a high bar. Now, hitting the open market in 2026, the Falcons face a projected TE franchise tag that could hover near the $19 to $21 million per season mark.
Applying the tag provides the Falcons with one more year of control, ensuring that Kirk Cousins (or his eventual successor) doesn't lose his most dangerous intermediate threat. However, tagging a player who has often been used as a decoy or a "big slot" rather than a traditional Y-tight end (in-line) is a pill that’s hard for the accounting department to swallow.
If Atlanta tags him, they are essentially paying Top-10 receiver money to a player who -- despite his elite athletic profile -- has struggled with consistent production.
The Trade Temptation
If the Falcons aren't ready to make Pitts likely the highest-paid tight end in NFL history, the alternative is the "Tag and Trade." In a league starved for pass-catchers who can win 1-on-1 matchups, Pitts’ trade value remains sky-high.
Teams like the Washington Commanders or Cincinnati Bengals -- who may be looking to replace aging or departing weapons -- would likely give up decent capital and change for the right to sign Pitts to a long-term deal.
By trading him now, Atlanta could recoup premium draft capital to bolster a defense that still lacks talent. It would be a "rip the Band-Aid off" move: admitting that the Pitts era, while flashy, never quite resulted in the dominant offensive identity fans were promised as a top five pick.
Taking the lens back, the Falcons find themselves in a classic no-win scenario. Letting Pitts walk for nothing is an organizational failure, and tagging him is a massive financial commitment for a team that still has holes to fill.
The most likely path? Atlanta applies the tag as a placeholder while desperately trying to hammer out a long-term deal that backloads the cap hit. But if the two sides remain miles apart by the start of the Combine, don't be surprised if Pitts finds a new home before the draft.