The Atlanta Falcons suddenly find themselves with a little pocket change after general manager Terry Fontenot performed his usual brand of salary cap magic. According to Over The Cap's projections, the team has roughly $7.6 million in cap space available. Since the Falcons already upgraded at outside linebacker and safety, perhaps it's time to add some more depth at wide receiver.

Rondale Moore was placed on season-ending injured reserve a few weeks ago. Atlanta's replacement for Moore, wide receiver Jakeem Grant, was signed and placed on IR in less than a week. While the Falcons have a few in-house options, including Casey Washington and Chris Blair, the team could look to sign one of the many cap casualties around the league.

Some notable players have already been released, and others are reportedly available via trade. Here's a look at five wide receivers the Falcons could target at the NFL 53-man roster deadline.

1. John Metchie III (Trade)

Metchie was on track to be next in a long line of great Alabama wide receivers before tearing his ACL in the National Championship game. Despite the injury, he was still selected in the second round of the 2022 NFL draft by the Houston Texans a few months later. Metchie has been slow to find a role on a Houston offense that traded Stefon Diggs over the offseason. Tank Dell and Nico Collins have emerged over the last year, leaving little room for Metchie to thrive in 2024. If Terry Fontenot can land Metchie for a mid-round pick, it's worth a shot.

2. Donovan Peoples-Jones (Cap Casualty)

People-Jones was released by the Lions and he's arguably one of the top options available. The 25-year-old has 122 career catches for 1,895 receiving yards since entering the league as a sixth-round pick in the 2020 NFL draft. Peoples-Jones' best season came in 2022 when he finished with a career-high 61 catches for 839 receiving yards and three touchdowns for the Browns. He was traded to the Lions and failed to land a meaningful role in a crowded wide receiver room. As a fourth/fifth option in Atlanta, Peoples-Jones makes a lot of sense.

3. Tim Patrick (Trade/Potential Cap Casualty)

Patrick had a productive start to his career before suffering a torn ACL in 2022 and a torn Achilles in 2023. Prior to suffering back-to-back season-ending injuries, the former undrafted free agent finished with back-to-back seasons of at least 700 receiving yards and five touchdowns for the Broncos in 2020 and 2021. Patrick is a 6-foot-4, 212-pound wide receiver who could give the Falcons some depth and size behind Drake London and Kyle Pitts. If the Broncos can't find a trade partner, they're expected to release Patrick at Tuesday's deadline.

4. Russell Gage (Cap Casualty)

Former Falcons wide receiver Russell Gage was just released by the Baltimore Ravens, according to NFL Network's Ian Rapoport. Head coach Raheem Morris coached Gage during some of his better years when he was in Atlanta. Gage is the type of cost-effective veteran presence this team needs. He can play inside and outside, which would help minimize the loss of Rondale Moore. The 28-year-old has 244 career catches for 2,491 receiving yards and 14 touchdowns since entering the league as a sixth-round pick in 2018.

5. Sterling Shepard (Cap Casualty)

Shepard is another recent cap casualty who would make sense in Atlanta as a fourth/fifth wide receiver. The former Giants wideout has 372 catches for 4,095 and 23 touchdowns since being drafted in the second round of the 2016 NFL draft. Shepard, 31, signed with the Buccaneers in free agency after spending the first eight years of his career in New York but was released on Monday. Tampa Bay hopes to re-sign him to the practice squad, so why shouldn't the Falcons spoil those plans?

This article originally appeared on Falcons Wire: 5 wide receivers the Falcons should target at NFL cut deadline