Dallas Cowboys News & Rumors

After taking their time on CeeDee Lamb and Dak Prescott extensions last year — to the point the ultra-rare game-day deal came to pass before Week 1 (with Prescott) — the Cowboys are at least starting the Micah Parsons process.

As of last week, the sides were not talking. They are now, per the Dallas Morning News’ Calvin Watkins, who describes these as general discussions. They will pertain to a monster extension, as Parsons joins a few edge rushers in the running to alter the position’s financial landscape this offseason.

Parsons has said he hopes an extension will be in place by training camp, later communicating there is a plan in place between he and the team regarding his second contract. This came after Parsons indicated in December he wanted a deal before free agency. That seems almost certain not to happen, as the Cowboys regularly hammer out their top extensions — save for the first Prescott re-up, which featured a franchise tag deadline — late in the summer.

Parsons joins T.J. Watt and Trey Hendrickson in contract years, with Myles Garrett squarely on the extension radar — with the Browns or another team, depending on how his trade saga ends — despite two seasons remaining on his deal. Parsons has said he expects to the NFL’s highest-paid non-quarterback. Other edge rushers will be in the mix for that title, as will Ja’Marr Chase.

Trade rumblings have come out on Parsons, who would fetch more than Garrett would due to his age (26 in May). Jerry Jones did his best to refute those, but a report last month had the Cowboys at least discussing the matter internally. As the Cowboys have Prescott and Lamb tied to top-market deals, a third landmark payday would restrict their ability to round out a roster. Dallas deciding to trade the youngest of their top trio would be an interesting move, as Parsons is probably the team’s best player. For now, the conversation will center on an extension, rather than a seismic swap.

Beginning his career with three All-Pro nods, Parsons is one of the NFL’s premier players. He will command a deal north of Nick Bosa‘s $34MM-per-year accord. The cap has climbed by $55MM since the Bosa deal came to pass. With Garrett, Watt and Hendrickson also in play for new contracts, this market being topped by a $40MM-AAV pact will not be out of the question come Week 1. The Cowboys are currently low on cap space, holding barely $3MM. They also will face a $26.4MM Zack Martin dead money bill from his retirement, though the future Hall of Fame guard could work with the team — as Jason Kelce and Fletcher Cox did the Eagles — to help save money via a post-June 1 transaction.

The Cowboys have a while on Parsons, but they are running out of time with Osa Odighizuwa. The ascending D-tackle has been in talks with the team on a second contract for weeks, and he is poised to be one of this year’s top free agents. As such, Watkins views $20MM per year as a floor for the four-year starter. Odighizuwa and Milton Williams are expected to fetch big contracts on this year’s DT market, but the Cowboys could buy more time by franchise-tagging their free agent-to-be. Of course, that would require maneuvering to create cap space, as it would cost $25.12MM for the team to tag Odighizuwa. The Cowboys have used the tag in six of the past seven years.

Unable to break through to snap their NFC championship game drought — now the NFC’s longest — with Parsons and Odighizuwa on rookie contracts, the Cowboys will now see their roster become more expensive. They have until 3pm CT March 4 to tag Odighizuwa and until 11am March 10 to conduct exclusive negotiations.