A.J. Terrell has established himself as one of the league’s top young cornerbacks. The former first-round pick is set to enter the final year of his rookie contract in 2024, meaning he’s eyeing a lucrative pay day within the next 12 months. There’s no question that the Falcons want to re-sign their star cornerback to a long-term pact, with Josh Kendall of The Athletic expecting the organization to sign their star defensive back to an extension “before the negotiations get tense.”
There is a question of how much an impending extension will cost. Terrell has undeniably set himself up for a sizable contract. The former 16th-overall pick has started all 61 of his appearances through four NFL seasons, including a sophomore campaign where he earned All-Pro honors. He finished that season ranked as Pro Football Focus’ second-best cornerback, with the Clemson product compiling 81 tackles, 16 passes defended, and three interceptions.
Since that 2021 campaign, Terrell has failed to pull in an interception, and he finished the 2022 season ranked only 62nd at his position. He rebounded this past year (24th among 127 qualifiers), but he still finished the season without a pick while collecting a career-low 45 tackles.
In other words, Terrell can justify being one of the league’s highest-paid cornerbacks, but probably not the highest-paid cornerback. From an average-annual-salary perspective, that honor currently belongs to Jaire Alexander, who is making $21MM per year. Kendall suggests the Falcons should push for a $17MM AAV, which would put Terrell ninth at his position (but well above No. 10, Carlton Davis, at $14.8MM).
Even a sub-$20MM AAV would be a win for the organization. Fellow 2020 draft picks Trevon Diggs, L’Jarius Sneed, and Jaylon Johnson have all come in between $19MM and $20MM with their respective extensions, so it wouldn’t be a surprise if Terrell is pushing for that range. The 2025 cornerback franchise tag is currently projected at $19.4MM (per OverTheCap.com), so that number could be a fair compromise between the two sides.
Terrell would headline the CB class if he somehow got to 2025 free agency. The non-first-round 2021 cornerbacks will also be hitting the market, a grouping that includes Tyson Campbell, Asante Samuel Jr., and Paulson Adebo. In the unlikely event that Terrell banks on a standout 2024 campaign (and succeeds), he could push for the Alexander/Denzel Ward/Jalen Ramsey tier at the position.
More likely, Terrell misses that mark but still signs a pricey extension with the Falcons. It sounds like the front office isn’t intending to drag out negotiations, which probably bodes well for Terrell’s chances of cracking the top-10 at his position. At the moment, the cornerback is attached to his $12.3MM fifth-year option, but he’ll likely add to that total before the 2024 campaign begins.