When Atlanta Falcons general manager Ian Cunningham was hired in January, he took the job knowing his team was low on available salary cap space heading into free agency and didn't have a first-round pick in the NFL Draft.

So it was no surprise that Cunningham and the Falcons took a conservative approach to free agency, with wide receiver Jahan Dotson getting the biggest contract at just two years for $15 million. The vast majority of the following moves were one-year deals.

They addressed a pair of needs with their first two picks in April's draft, selecting cornerback Avieon Terrell and wide receiver Zachariah Branch. They've gotten excellent value from linebackers Kendal Daniels and Harold Perkins Jr., selected in the fourth and sixth rounds, respectively.

The big moves the Falcons made in the offseason were in the front office, including Cunningham, and a coaching change.

Atlanta will not be quiet this offseason.

After trading safety Jessie Bates III and center Ryan Neuzil, the Falcons added a second-round pick in 2027 and a pair of Day 3 picks in 2028.

Sitting at 3-6, but losing strength-of-schedule tiebreakers, the Falcons currently have the No. 10 overall pick in the NFL Draft. They also have a pair of picks in the second round at No. 41 and No. 60 (from Jacksonville), a third, fourth, a pair of projected comp picks in the sixth, and a seventh, according to Tankathon.

Atlanta Falcons Projected 2027 Draft Picks

The Falcons receive comp picks for running back Tyler Allgeier (Cardinals) and defensive tackle David Onyemata (Jets), but the Dotson signing canceled out a sixth for Kaden Elliss (Saints), according to Over The Cap.

No More Cap-Hell

However, before the draft, the Falcons will be big players in free agency. The Falcons have $143 million in available cap space, according to Spotrac, $38 million more than the Arizona Cardinals, who have the second most.

The Falcons' available space is so mind-blowing that there are 19 teams that don't have $38 million available for 2027 right now. In 2022, the Falcons had to cut salaries just to sign their draft picks. This team has come a long way when it comes to salary cap management.

With a full war chest of cash and picks, Cunningham and the Falcons will address several pressing needs, with offensive tackle, cornerback, and wide receiver being the biggest. Experience at linebacker and another starting safety will be big as well, but non-premium positions come cheaper than the big-ticket items.

The Elephant in the Room

The big question right now is still the big question at the start of the season: What about quarterback?

Michael Penix Jr. has shown flashes of being the long-term option for the Falcons, but has he shown enough to keep Atlanta out of the quarterback market in 2027? If the answer is yes, the team can spend significant resources building the team around the quarterback.

If the answer is no, the Falcons will need to spend significant resources to acquire a potential franchise player at the position.

Despite losing Neuzil, the Falcons' offense remains intact after the trade deadline, giving Penix a fair evaluation period over the next eight games to answer any lingering questions.