Report: Leonard Floyd Agrees to $10M Falcons Contract After 49ers Release

The Atlanta Falcons are signing Leonard Floyd to a one-year deal following his release by the San Francisco 49ers, according to NFL Network's Ian Rapoport.

Floyd is set to earn $10 million on his new deal, per Rapoport.

ESPN's Adam Schefter reported Leonard's release by the 49ers earlier Tuesday.

Leonard was previously signed through the 2025 season at a cap hit of $10.1 million.

The cut cost the 49ers $8.6 million in dead cap but save the team $1.48 million in cap space, per Over the Cap.

The news came amid rumors the Niners are interested in signing defensive end Joey Bosa, who was released last week by the Los Angeles Chargers.

The Athletic's Dianna Russini reported Sunday that the idea of playing with Nick Bosa on the 49ers "appeals" to Bosa.

However, Russini added that the Dolphins were expected to have "strong interest" in signing Bosa.

The Athletic's Michael Silver reported Monday that the 49ers and Dolphins have made offers to Bosa "in the same relative price range."

Silver initially listed this range as including less than $10 million for 2025, although he later amended the report to note it is "possible" Bosa receives more than $10 million from either team.

Cutting Floyd is the latest cap-saving move by the 49ers, a team that has spent the offseason so far clearing out salary space through trades, cuts and free agency ahead of upcoming extension negotiations with key players including Brock Purdy and George Kittle.

ESPN's Adam Schefter and the San Francisco Standard's David Lombardi summed up the 49ers' moves so far:

Floyd started all 17 games for the 49ers last season while ranking second only to Nick Bosa with 8.5 sacks. He has not missed a regular-season game since the start of the 2018 season.

Prior to joining the 49ers last offseason, Floyd tied his single-season career high with 10.5 sacks for the Buffalo Bills.

He spent three seasons prior playing with the Los Angeles Rams, where he overlapped with Falcons head coach Raheem Morris.

Floyd is a Georgia native who played three college seasons for the Bulldogs. He will now take his experience to Atlanta, where the Falcons could use a boost on the pass rush after struggling to sack opponents in 2024.