What to expect from a potential Micah Parsons extension with Cowboys

DALLAS — Another offseason for the Dallas Cowboys where they have a significant contract to address, and the hope is that this one will go off without a hitch. 

Last year, it wasn’t a smooth process to work out big contracts for quarterback Dak Prescott or wide receiver CeeDee Lamb, now Jerry and Stephen Jones are tasked with heading back to the bargaining table for edge rusher Micah Parsons.

While most of the fan base has little faith that these negotiations will go quickly, Parsons himself has let it be known that he wants his extension done sooner rather than later. As a bonus for the front office, the All-Pro pass rusher has also stated he doesn’t need to break the bank, insisting there’s a price in mind to extend him, and that he’s willing to accept less so the team can add pieces to help the Cowboys return to the Super Bowl.

That’s a positive, team-first attitude from Parsons, but it’s also a disposition that can be exploited by the Joneses. It wouldn’t be the first time that upper management has pushed the idea that being a Cowboy can help grow a players’ brand while offering a contract that isn’t at market value. If that happens and the team lowballs one of the league’s top defenders, things could get ugly. 

There was also tendrils of smoke from the rumor mill that the team had internal discussions about trading Parsons, rather than paying him. While that idea is likely the front office exploring all avenues of building the team, it would be far-fetched to think the Cowboys would seriously consider trading their best player on defense. 

Currently, as it stands in mid-February, things are good with Parsons and the team. An extension is expected in Dallas, and the two sides appear to be getting along. 

However, the longer this extension takes, the more the tension can build. Parsons is playing the role of good soldier – which the Joneses love – for now, but if a deal isn’t imminent, things can change. The Joneses cannot afford to waste time like they did last offseason, waiting too long to work out deals for Prescott and Lamb, all while sitting out free agency and not getting any better.

Hopefully that lesson has been learned, and Parsons’ deal won’t take long so the team can take part in free agency. Parsons has been extremely vocal about wanting to see the team be more aggressive in adding talent, unlike what happened last year, and an early extension can help that happen.

While all parties seem comfortable now, the cost to keep Parsons – even at his possible discounted price – could make for an uneasy negotiation. The Joneses love to cry salary cap-poor while blaming the star players they pin their roster-building strategy on, and need to pay to stay competitive, for taking the money that they’ve earned.

The going rate for an elite edge pass rusher in the NFL is currently over $30 million annually, at over $75 million fully guaranteed, with over $100 million in total guarantees. Those are moderate numbers since only one player has hit those benchmarks, San Francisco 49ers’ Nick Bosa. 

Here are the top pass rushers in average annual salary and guarantees in the NFL:

• Nick Bosa: $34 million annually, $88 million fully guaranteed, $122 million in total guarantees

• Josh Hines-Allen: $28.25 annually, $76.5 million fully guaranteed, $88 million in total guarantees

• T.J. Watt: $28 million annually, $80 million fully guaranteed, $80 million in total guarantees

• Myles Garrett: $25 million annually, $50 million fully guaranteed, $100 million in total guarantees

• Brian Burns: $28.2 million annually, $76 million fully guaranteed, $87.5 million in total guarantees

Bosa’s $122 million in guarantees is also the highest in the league, a whopping $22 million more than the Cleveland Browns gave Garrett, which means Parsons could slot anywhere in-between, or higher. Parsons has said he doesn’t need $40 million a year, but that’s around where he deserves to be paid. Couple that with guarantees that’s in Parsons’ future – again, even if he takes a discount from where the numbers suggest – and he’ll be handsomely rewarded by the Cowboys. 

What the team needs to figure out is how Parsons’ new deal fits in with their salary caps concerns. Stephen Jones loves to talk about how the Cowboys divide the pie, and with them already paying two other players at the top of the market, how they can improve while adding a third and still being active in free agency. That’s Dallas’ challenge, a test they annually fail.

Micah Parsons is among the best defensive players in the league and he’s asking to get his extension done quickly, without breaking the bank. It’s an offer that’s hard to refuse; the Cowboys don’t get this opportunity often and should take advantage. 

Signing Parsons early in the offseason would also allow the team to be bigger players in free agency, as they would know the salary cap impact of Parsons’ new deal and the remaining money left to spend on the open market.

Despite the exorbitant cost, the Joneses should quickly work out an extension with Parsons to build back some trust with the fans and players. After last year’s debacle, a fast compromise for a star player could go a long way toward showing everyone in the organization that this offseason will be different. 

This doesn’t need to be difficult, but it’s the Joneses, and the football world will marvel at how the Cowboys and Parsons work towards a lucrative new deal. Never a dull moment with either party.

Do you think the Cowboys will get Micah Parsons signed to a new deal this offseason? Share your thoughts with Ben on X (formerly Twitter) @BenGrimaldi.