Shortly after adding a pair of veterans to their defense, the Falcons took care of another piece of financial business on that side of the ball on Thursday. Atlanta has worked out a big-ticket extension with cornerback A.J. Terrell, as first reported by ESPN’s Adam Schefter.
Terrell will collect $81M on a four-year extension, per Schefter. The pact includes $65.8M in effective guarantees, making this the largest commitment in terms of locked-in compensation given to a corner on a four-year agreement. The 23-year-old is now under contract through 2028.
In terms of annual average value, Terrell has become the fourth player at his position to average $20M or more per season. His AAV of $20.25M ranks second in the league, behind only Jaire Alexander‘s Packers deal ($21M). This Falcons extension is the largest deal given out to a corner in 2024, eclipsing the trio of Tyson Campbell (Jaguars), L’Jarius Sneed (Titans) and Jaylon Johnson (Bears). Each of those four-year pacts ranged between $76M and $76.5M in value.
Earlier this summer, it was clear Terrell was firmly on the Falcons’ extension radar. The Clemson alum was set to play on his fifth-year option in 2024, valued at $12.34M, but a long-term deal would clearly check in at a much higher figure. His most recent comment on the subject of extension talks painted an encouraging picture with respect to a deal being worked out. Now that it has, Terrell enters the season with increased expectations as the team’s clear-cut No. 1 corner.
After serving as a full-time starter during his rookie season, Terrell had his most productive campaign in 2021. That year saw him collect three interceptions, 16 pass deflections and 81 tackles en route to a second-team All-Pro nod. The past two seasons have not been as impactful on the stat sheet, but Terrell has remained consistent in terms of completion percentage allowed. While he has allowed 10 touchdowns as the nearest defender since 2022, the Falcons hope the coming campaign will see a step forward taken at all three levels of their defense.
Atlanta traded for edge rusher Matt Judon last week, adding an established sack artist to the team’s front seven. That move, which will not be accompanied by an extension for the pending free agent, was followed up one day later by the signing of safety Justin Simmons. The latter will create a notable backend tandem with Jessie Bates, who had a successful debut Falcons campaign last year. Judon and Simmons have combined for six Pro Bowls, and Terrell will look to join them in that regard while playing out his second contract.
The Falcons’ restructuring of guard Chris Lindstrom‘s contract freed up 2024 cap space in anticipation of the Simmons acquisition as well as the Terrell extension. It will be interesting to see how this move affects the team’s cap outlook over the coming years, but for at least the 2024 campaign, a number of major investments will be in place on defense. Questions loom over the status of Atlanta’s second starting cornerback position, but the top of the depth chart is locked in for the foreseeable future.
