Arguably the biggest surprise pick of the 2024 NFL draft is officially a member of the Atlanta Falcons after Michael Penix Jr. agreed to his rookie contract.

According to NFL insider Jordan Schultz Penix will sign his four-year deal worth $22.8 million. The contract contains a $13.56 million signing bonus.

Jordan Schultz @Schultz_Report

Sources: The <a href="">#Falcons</a> and rookie QB Michael Penix Jr. have agreed to terms on his rookie contract. The No. 8 overall pick gets a 4-year deal worth $22.88M. His signing bonus is $13.46M. <a href="">

Penix elevated himself into the first-round mix after two stellar seasons at Washington, including a Heisman runner-up finish in 2023, but his landing spot was something of a mystery until the Falcons shocked the world by taking him at No. 8 overall.

Under normal circumstances, the Falcons' decision would be easy to explain. They went through three different starting quarterbacks in the two seasons after Matt Ryan was traded to the Indianapolis Colts in March 2022.

But Atlanta opened free agency by giving Kirk Cousins a four-year, $180 million contract to solve those quarterback issues.

General manager Terry Fontenot explained the decision to add Penix as Cousins' understudy to begin his career.

"If you believe in a quarterback, you have to take him," Fontenot said. "And if he sits for four or five years, that's a great problem to have because we're doing so well at that position. So, it's as simple as, if you see a guy you believe in at that position, you have to take him."

It's an unusual strategy for several reasons, not least of which because it negates the ability for the Falcons to fully utilize the roster-building advantages that come with having a quarterback on a rookie deal.

Despite the odd approach the Falcons took, no one will ultimately care if they have success with Cousins initially and Penix plays great when he eventually takes over.

Given that Cousins will turn 36 on Aug. 19 and is coming off a torn Achilles, it's probably smart for the Falcons to have a young quarterback they believe in who could step in as a rookie to keep the offense running.

Penix threw for 9,544 yards, 67 touchdowns and completed 65.4 percent of his attempts in two seasons at Washington after transferring from Indiana. He led the Huskies to a Pac-12 title and an appearance in the College Football Playoff Championship Game in 2023.