The Atlanta Falcons continue to make big moves as the NFL free agency period opens and a key defensive piece has reportedly agreed to terms on a new deal.

Former Cincinnati Bengals safety Jessie Bates III has agreed to a four-year contract worth $64.02 million with $36 million guaranteed, according to NFL Network.

The 26-year-old Bates has stood out as the Bengals’ free safety since he was drafted in the second round of the 2018 NFL Draft. Because of that, many knew the price for Bates was going to be high, and the Falcons they met the demand at approximately $16 million per season over the course of the deal.

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Jessie Bates III #30 of the Cincinnati Bengals tackles Tyler Huntley #2 of the Baltimore Ravens during the fourth quarter in the AFC Wild Card playoff game at Paycor Stadium on January 15, 2023 in Cincinnati, Ohio. (Rob Carr/Getty Images)

The Bengals and Bates reportedly tried to work on a long-term extension before it hit free agency, but couldn’t get together on the right number. That’s been the case since last season forced the Bengals to use their franchise tag on Bates to play them in 2022.

He wasn’t the only Bengal to leave Monday, as his high school teammate Vonn Bell is expected to join the Carolina Panthers.

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The Falcons can use all the help they can get on the defensive side of the ball after finishing 27th in the league in total yards allowed per game (362.1) and 25th in yards allowed per game (231.9).

Bates allowed a career-low 51.4% completion rate on the 37 targets he faced in coverage last season for the Bengals, while also giving up a 76.1 passer rating.

Jessie Bates III #30 of the Cincinnati Bengals warms up before the start of the game against the Buffalo Bills at Paycor Stadium on January 2, 2023 in Cincinnati, Ohio.

Jessie Bates III #30 of the Cincinnati Bengals warms up before the start of the game against the Buffalo Bills at Paycor Stadium on January 2, 2023 in Cincinnati, Ohio. (Kirk Irwin/Getty Images)

He also set a career high for interceptions with four in 16 starts while racking up 71 tackles, eight pass defenses and one forced fumble.

Bates can also tackle well, totaling over 100 in each of his first three seasons.

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Atlanta is flexing its lucrative pockets on Monday, and Bates was just the latest signing. They extended guard Chris Lindstrom to a record five-year contract while trading for tight end Jonnu Smith from the New England Patriots.

Defensively, tackle David Onyemata also signed a three-year, $35 million contract. And, of course, we can’t forget about special teams: Punter Bradley Pinion is locked up for three seasons at $8.65 million.

Jessie Bates III #30 of the Cincinnati Bengals falls into pass coverage during an NFL football game against the Cleveland Browns at Paycor Stadium on December 11, 2022 in Cincinnati, Ohio.

Jessie Bates III #30 of the Cincinnati Bengals falls into pass coverage during an NFL football game against the Cleveland Browns at Paycor Stadium on December 11, 2022 in Cincinnati, Ohio. (Kevin Sabitus/Getty Images)

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In a wide-open NFC South, the Falcons hope they can use their salary-cap space and strong draft position (eighth overall pick) to compete for a playoff spot. The addition of Bates is another step in the right direction.