The first piece of Atlanta Falcons free agency news, besides all those reported undrafted free agent signings from Monday and Tuesday: Adam Schefter says the Falcons and LB Stephen Nicholas have come to terms on a five-year contract. The deal, if one is in place, can't be signed until Friday evening.
Update: Zach Klein adds a price tag: $17.5 million over five years. Not bad at all.
Nicholas was supposed to sign with the New York Giants, last we'd heard, so it's something of a surprise to see him reported as the team's first free agent back on the boat.
A Nicholas signing would raise questions about Mike Peterson's future with the team. The Falcons drafted Akeem Dent, shoring up linebacker depth, and will get a healthy Sean Weatherspoon back. Spoon and Curtis Lofton will hold down two starting spots, while a re-signed Nicholas would likely take the other, because who signs backups to five-year deals?