Micah Parsons has emerged as one of the premier pass rushers in the league and was considered a frontrunner for DPOY before Myles Garrett secured the award. Drafted from Penn State in 2021, Parsons has accumulated a net worth of $7 million, primarily through his rookie contract with the Cowboys, valued at $17 million.
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In the first year, he earned $3,105,417, followed by $3,881,771 in 2022. This figure increased to $4,658,125 in 2023 and he is set to earn $5,434,479 in 2024. Parsons’ net worth has consistently followed an upward trajectory since signing the contract. He was worth $6.4m in 2022 as per Freshers Live.
Besides the contract, the 2021 Defensive Rookie of the Year has been fortunate to secure multiple endorsement deals with prominent brands like Nike, Bose, State Farm, Nocco, Pizza Hut, Mentality, Old Spice, and C4 Energy. These endorsement deals are estimated to bring in millions, contributing significantly to Parsons’ overall financial success.
Micah Parsons has expanded his business ventures by partnering with Premier Autos of Lubbock, a luxury auto chain for pre-owned vehicles. Furthermore, he has ventured into the retail space with an online shop, featuring his customized “Lion Collection” line and other merchandise. In addition to these entrepreneurial pursuits, he has secured significant partnerships with Apple and Bleacher Report to launch a Podcast titled- “Edge with Micah Parsons” On this podcast, he invites guests to delve into the biggest headlines in football, share his hot-takes, and much more.
Considering these diverse sources of income including his endorsement deals, business partnerships, and podcast venture, Parsons’ net worth is poised to experience substantial growth. This growth is anticipated to be further boosted when he signs a contract extension with the Cowboys, especially as he enters the final year of his rookie contract.
Micah Parsons Contract Extension
Heading into the final year of his contract, Micah Parsons, as a first-round pick in his draft class, has the option for a fifth-year extension that Jerry Jones and the Cowboys can exercise. Parsons has participated in over 75% of matches and has earned recognition with more than two Pro Bowl appearances, so it will take an estimated $8m to tie him down. This would bring the total contract value to $24m, fully guaranteed as per Over the Cap.
Should they exercise the option, it would tie him to the team for another two seasons, alleviating the need to consider a mega contract until at least 2026. Drawing a parallel, Nick Bosa recently became the highest-paid defensive player in NFL history, after signing a substantial 5-year, $170 million contract with the 49ers, earning an annual average of $34 million. As the time approaches for Parsons’ contract negotiation, he will likely seek a similar, lucrative deal.
The star Defensive Tackle and one-time Super Bowl winner, Aaron Donald inked a three-year $95m contract with the Rams in 2022, making him the highest-paid defensive player at the time. From this deal, he pulls in an estimated $31m annually. On the other hand, Pittsburgh star-rusher and 2021 NFL DPOY, T.J. Watt currently holds the position as the third highest-paid defensive player, earning an average annual salary of $28,002,750 as per Sporting News.
The reigning Defensive Player of the Year, Myles Garrett pockets $25m a year, courtesy of the $125m contract extension he signed with the Browns in 2022. Interestingly, the elder Bosa brother, Joey, also commands one of the highest salaries for a defensive player, earning $27m annually.
With both Dak Prescott and CeeDee Lamb poised for extensions and anticipated to receive substantial contracts, Micah Parsons may not secure a contract extension before his current one expires. The team may however opt to exercise the fifth-year option and possibly utilize the franchise tag afterward. Presently, the Cowboys find themselves approximately $21m over the salary cap. The impending big contracts for Prescott and Lamb pose a financial challenge, necessitating the prioritization of the most valuable pieces of the puzzle for the team.
