Atlanta Falcons Free Agency: Value Analysis of Current Falcon Free Agents

The Atlanta Falcons have a lot of free agents this offseason and will be looking into the best way to go about bringing back their players, as well as who to not bring back. They range from all positions all over the team, and there are 21 free agents in total. Seventeen of them are unrestricted free agents. One of them is a restricted free agent and three of them are exclusive rights free agents.

For reference, come March 13, the unrestricted free agents can sign with anyone without question. Restricted free agents sign tenders and based on those tenders, the team can recuperate different levels of compensation as well as have the right of first refusal.

Exclusive rights free agents sign a minimum contract for their time in the league and will wind up with the team that has their rights unless they are non-tendered. The Falcons' free agents break down as follows:

Unrestricted Free Agents

QB Chris Redman, RB Jason Snelling, WR Harry Douglas, WR Eric Weems, TE Reggie Kelly, OT Kirk Chambers, C Brett Romberg, C Todd McClure, DE John Abraham, DE Kroy Biermann, LB Mike Peterson, LB Curtis Lofton, CB Kelvin Hayden, CB Brent Grimes, S Thomas Decoud, S James Sanders and LS Joe Zelenka

Restricted Free Agents

DT Vance Walker

Exclusive Rights Free Agents

RB Antone Smith, TE Michael Palmer and OG Andrew Jackson

Going over the lists you can see a lot of guys who were starters and also a lot of guys who will be re-signed.

But for the most part, it’s safe to say you will see over half of the unrestricted list gone in 2012. The four guys listed under restricted or exclusive rights will easily be back, though. They will all likely sign very team-friendly contracts for the 2012 season which will allow the Falcons to have depth that is very inexpensive considering the average NFL contract can be around $2 million.

In this slide show, we will take a look at the Falcons' current free agents and who they will be looking to re-sign and who they will let walk. We will also take a look at their relative value based on contracts signed by comparable players at their positions and where the players rank in the NFL.

Exclusive Rights Free Agent: RB Antone Smith

Why the Falcons Should Re-sign Him

Antone Smith has a lot of value not just as a backup running back for a few carries a year, but as a special-teams ace. One of the bigger reasons why Atlanta was very good on special teams the past year and had seven special-teams tackles this year. He should be brought back at a minimal contract.

Value on the Open Market

Veteran minimum contract

Projected Contract

One year, $540k exclusive rights free agent (ERFA) contract

Exclusive Rights Free Agent: TE Michael Palmer

Why the Falcons Should Re-sign Him

In his two years as a Falcons backup, he has given off the presence that he is a veteran tight end in a young TE's body in the running game and in the passing game and has shown promise.

Has great size at 6'5", 252, and shows improvement in his route running every year to go with his already solid hands. Went from five catches for 29 yards and a TD in 2010 to 10 catches for 72 yards and a TD this year. He should only get better and should be brought back for the tender.

Value on the Open Market

Veteran minimum contract

Projected Contract

One year, $540k ERFA contract

Exclusive Rights Free Agent: OG Andrew Jackson

Why the Falcons Should Re-sign Him

Pat Hill, his college coach is now the OL coach in Atlanta. The Falcons are smart to have already re-signed him and he will provide great depth at worst but could very well be the starter at the RG spot in 2012.

Value on the Open Market

Veteran minimum contract

Projected Contract

One year, $390k ERFA contract

NOTE - Andrew Jackson re-signed for a $390k ERFA contract.

Restricted Free Agent: DT Vance Walker

Why the Falcons Should Re-sign Him

One of the better all-around reserve DTs. Does extremely well against the run and is a great fit as both a 1-tech and 3-tech DT. This one is pretty cut-and-dried. Walker has improved every year statistically and will only continue to get better. If you are Dimitroff, you re-sign Vance Walker all day every day.

Value on the Open Market

Three years, $9M (pretty much every reserve DT out there)

Projected Contract: 1 year, $1.92M (second round and right of first-refusal tender)

Unrestricted Free Agent: QB Chris Redman

Why the Falcons Should Re-sign Him

An affordable backup quarterback who can play a couple of games in a pinch, Redman is a guy who is a great fit for any team. Atlanta brings him back if he takes a vet minimum deal, otherwise, he's not worth the contract.

Value on the Open Market

One year, $1M

Projected Contract

One year, veteran minimum

Unrestricted Free Agent: RB Jason Snelling

Why the Falcons Should Re-sign Him

Snelling provides a unique option out of the backfield in the passing game. He's an excellent blocker, and when the ball is in his hands he's a true thumper. He has a Michael Turner-lite feeling about him, but with way better receiving abilities.

Value on the Open Market

Two-three years, $3M/year for a $6-9M contract

Running backs are considered a-dime-a-dozen, and Snelling will be in low demand.

Projected Contract

One-two years for a $1.5-2.5M contract total

Unrestricted Free Agent: WR/RS Eric Weems

Why the Falcons Should Re-sign Him

He is the special-teams captain. He gets around 15-20 ST tackles a year and also is one of the best return men in the league. He's fearless. However, he needs more work at WR, otherwise his only use there is as a projectile blocker.

Value on the Open Market

As a WR: veteran minimum, as a ST guy: two years, $5.5M

Projected Contract

Two years, $4.5M

Unrestricted Free Agent: WR Harry Douglas

Why the Falcons Should Re-sign Him

One of the top slot WRs on the market. Has really been coming into his own this past season and will do even better in Koetter's offense that features the spread formations and three wide receivers more. Douglas averaged around 400 yards and a couple of TDs every year, but could definitely improve with more passing this year.

Value on the Open Market

He could go for as much as a four-year, $16M deal like what Michael Jenkins signed in 2009.

Projected Contract

Three years, $11M

Unrestricted Free Agent: TE Reggie Kelly

Why the Falcons Shouldn't Re-sign Him

He's old, one of Dan Reeves' picks (only about a hand full of them are left in the NFL) and is at the point where he should retire.

Value on the Open Market: veteran minimum

Projected Contract

Zero years, $0. No one should be offering him anything. Many look at 2011 as his farewell tour.

Unrestricted Free Agent: OL Kirk Chambers

Why the Falcons Should Re-sign Him

Very good cheap depth and should be worth it to come back as a veteran camp body. Could be a good fit in the mixed scheme for Pat Hill. Hill does best with solid pass-blockers who can learn to run block, and Chambers fits that mold to a T.

Value on the Open Market

Veteran minimum

Projected Contract: One year, veteran minimum

Unrestricted Free Agent: OL Brett Romberg

Why the Falcons Shouldn't Re-sign Him

As much as Atlanta should be looking at options for guard, Romberg is a true center. And honestly, his best fit should only be if Hawley and McClure go down for the season. He should be allowed to walk.

Value on the Open Market

Veteran minimum

Projected Contract

Zero years, $0

Unrestricted Free Agent: C Todd McClure

Why the Falcons Should Re-sign Him

He has given his blood, sweat and life for the Falcons over the past 12 years and has started almost every game in that span. The "Mud Duck" as his line mates like to call him is the best center in the NFL to have never been to a Pro Bowl.

Value on the Open Market

One year, $1M

Projected Contract

One year, $1M: Falcons would give him slightly more than veteran minimum, but his starting spot warrants it.

Unrestricted Free Agent: DE John Abraham

Why the Falcons Should Re-Sign Him

He's still got it as a true pass-rusher, but he will be looking for a big contract. John Abraham is worth a good bit, but honestly, his overall value isn't what he thinks it's worth. He's a top-15 DE, not a top five, so he should get paid similarly to one. But his being 34 years old will hurt him.

Value on the Open Market

Three years, $15M

Projected Contract

Three years, $20M: Some team will overpay for him as a pass-rusher. Let's just hope it's not Atlanta.

Unrestricted Free Agent: DE Kroy Biermann

Why the Falcons Should Re-sign Him

Kroy is a good fit for Mike Nolan. He has the scheme fit as both a 3-4 OLB and 4-3 DE and can be a good pass-rusher if used right. Kroy is looking at a re-sign in Atlanta and doesn't want to leave the Falcons. Also, he is a tenacious player who has had two interception touchdowns in the past two years.

Value on the Open Market

Three-four years, $10-12M

Projected Contract

Three-four years, $10-12M

Unrestricted Free Agent: MLB Curtis Lofton

Why the Falcons Should Re-sign Him

He is the leader of the Falcons defense. He is the defensive captain and the new hammer in the middle. The "5-0" as his teammates call him is a thumper and will be a productive Falcon for years to come.

Value on the Open Market

Six years, $45M

This is similar to what Patrick Willis, D'Qwell Jackson and David Harris make.

Projected Contract

Six years, $40M with a hometown discount for Atlanta.

Unrestricted Free Agent: LB Mike Peterson

Why the Falcons Should Re-sign Him

He brings a veteran presence at the cost of a guy who will retire in a couple of years. He also has a great relationship with Mike Smith and is still a great leader in the locker room.

Value on the Open Market

Veteran minimum

Projected Contract

One year, veteran minimum

Unrestricted Free Agent: CB Brent Grimes

Why the Falcons Should Re-sign Him

He's a top-five cornerback in the NFL. He's 28 and has at least six years left in him and is a true leader in the secondary. He came up with the Falcons and deserves to end his career with them.

Value on the Open Market

Four-six-year deal for a $10-11M/year avg.

Projected Contract

Five years, $51M

NOTE-Brent Grimes franchised as of 9:30 AM on Friday, March 2nd, 2012

Unrestricted Free Agent: CB Kelvin Hayden

Why the Falcons Should Re-sign Him

Performed well in nickel and could be inexpensive after his knee injury late in the year. Tricky with the knee injuries, though, as Hayden has been injured quite a bit recently in his career. Most likely situations could be in retirement instead of with a team.

Value on the Open Market

Vet minimum

Projected Contract

One year, vet minimum

Unrestricted Free Agent: S Thomas Decoud

Why the Falcons Should Re-sign Him

He's the starting FS from the past three years and is only 26 years old. He has made a lot of improvements and will only do better in Mike Nolan's scheme. His best fit is in Mike Nolan's defense as the deep safety who will make adjustments pre-snap. Has Brian Dawkins-level potential long term.

Value on the Open Market

Three-five years, $4M/year

Projected Contract

Four years, $12-15M

Unrestricted Free Agent: S James Sanders

Why the Falcons Should Re-sign Him

Could come cheap, but isn't worth what some will think he is. Missed a lot of tackles and gave up a lot of plays on defense in 2011. His best fit is as the fourth best safety on a team.

Value on the Open Market

Veteran minimum

Projected Contract

One year, veteran minimum

Unrestricted Free Agent: LS Joe Zelenka

Why the Falcons Should Re-sign Him

He hasn't had a bad snap in three years for the Falcons, plus long-snappers are cheap.

Value on the Open Market

Veteran minimum

Projected contract

One year, veteran minimum