We mentioned the other day that the Falcons likely decided to cut Joe Horn in the middle of August in order to give him a chance to land with another team because any money Horn earns elsewhere will be credited against his $2.5 million salary guarantee for 2008.

We’ve gotten a look-see at Horn’s contract.  There’s no offset language in it.  Zero.  None.

So Horn can earn another $2.5 million in base salary this year from another team (not that he will), and in the end pocket $5 million.

This twist in the Horn deal makes obvious the team’s inability to trade Horn, since no other team in their right mind would have wanted to be on the hook for $2.5 million with no offset.

None of this reflects well on former Falcons G.M. Rich McKay, who negotiated the contract and who inexplicably is still the President of the team.

Meanwhile, Horn is still looking for a job.