One down, two to go. T.J. Watt’s contract saga is finally over, with the Steelers opening their checkbook and locking down their star pass rusher. Watt signed a three-year, $123 million extension, making him the highest-paid non-quarterback in NFL history. Now, only Trey Hendrickson and Micah Parsons remain on the big-name pass rusher market, and it’s likely Parsons will be the next to cash in.
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But thanks to the Cowboys’ habit of playing the waiting game, the price tag is going to be hefty.
Former NFL safety Ryan Clark weighed in on the situation, pointing fingers at Jerry Jones’ strategy. According to Clark, Jones has developed a pattern of delaying extensions until the last moment, even if it means paying a premium.
“He (Jerry Jones) does hold on to this money or hold on to these contracts until the last possible moment to get it done. It’s not only about how much more money you owe him now than you last year. It’s about looking in that locker room and saying we are going to make all of you fight tooth and nail to the end to get your deal, no matter who you are and no matter what you show us. I think they have to get out of that mindset.”
Jones used the same tactic with Dak Prescott, eventually making him the highest-paid quarterback at the time, and did it again with CeeDee Lamb, who became one of the top-paid receivers. Waiting cost the Cowboys nearly $10 million more than if they’d acted sooner.
Clark believes this approach hasn’t worked in Dallas’ favor, and they need to re-evaluate it. The front office should prioritize extending homegrown talent early, especially when players continue to produce at an elite level. And in Micah Parsons’ case, they really don’t have a choice anymore; if they want to keep him, they’ll have to pay him top dollar.
Can Dallas afford to pay Parsons big money?
Actually, the Cowboys are in a decent spot financially. They currently have just over $32 million in cap space, and while a chunk of that will go to Dak Prescott and Parsons this season, there’s room to maneuver. Parsons, who’s entering his fifth year, will earn $24 million under the fifth-year option. That’s a sizable cap hit for someone who hasn’t signed a long-term deal yet.
However, extending Parsons now could actually help Dallas manage future cap figures. A new deal would allow the team to reduce his 2025 cap hit significantly. The expected range for his extension could be a four-year, $170 million deal.
That would require a substantial signing bonus—likely between $90 million and $100 million, which the Cowboys could spread across the life of the contract to ease the annual cap impact. Of course, as with Watt and Prescott’s deals, a large portion of that contract would likely be fully guaranteed.
The bottom line: the Cowboys can afford to pay Parsons now. But if they wait any longer, the price will continue to go up.
