Veteran quarterback Kirk Cousins agreed to a five-year, $172 million contract with the Las Vegas Raiders on Thursday, but the deal is structured much like a short-term commitment worth roughly $20 million over two years.
The contract includes only $11.3 million in guaranteed money, with a 2026 base salary of $1.3 million and a cap hit to match, according to Spotrac. Future years carry minimal cash obligations that the Raiders can easily avoid, making the massive headline number largely illusory for cap and roster flexibility purposes.
The signing reunites Cousins with Raiders coach Klint Kubiak, who worked with the 38-year-old quarterback during three seasons in Minnesota. It also gives the Raiders a proven veteran to mentor rookie quarterback Fernando Mendoza, whom the team is widely expected to select with the No. 1 overall pick in the NFL draft later this month. Cousins is viewed as a potential bridge starter while Mendoza develops.
Comp update: Kirk Cousins will sign a five-year, $172 million deal with the Raiders that in reality is a one-year, fully-guaranteed $20 million deal that also contains a club option for two years at $80M.
The Falcons will pay Cousins $8.7 million this season, the Raiders another… pic.twitter.com/MHYqOOfBs7
— Adam Schefter (@AdamSchefter) April 2, 2026
Cousins spent the past two seasons with the Atlanta Falcons after signing what was then the richest free-agent deal in NFL history — a four-year, $180 million pact in March 2024. The Falcons released him in March following a contract restructure that set up his departure, leaving him as one of the top available quarterbacks in free agency.
Raiders general manager Tom Telesco and Kubiak targeted Cousins as an affordable, experienced option after trading away Geno Smith. The low-risk structure allows Las Vegas to pivot quickly if Mendoza is ready sooner than expected or if Cousins’ performance warrants an extension.
Cousins completed 61.7% of his passes for 1,721 yards, 10 touchdowns and five interceptions in eight starts with Atlanta last season before backing up Michael Penix Jr. A four-time Pro Bowler with more than 167 career starts, he has thrown for 38,000-plus career yards and remains one of the league’s more accurate passers when healthy.
Financially, the deal gives Cousins a significant payday while providing the Raiders outs after 2026 or 2027 if needed. The club reportedly holds options on additional years that could push the value higher, but the core commitment remains modest.
The Raiders open the season Sept. 6 against the San Francisco 49ers.
