With mere hours before the regular season, the Dallas Cowboys secured two critical contract extensions for quarterback Dak Prescott and wide receiver CeeDee Lamb. Both players inked four-year deals, ensuring the Cowboys won’t face distractions over their potential free agent departures in 2024. However, a key figure still looms on the extension horizon: All-Pro edge rusher Micah Parsons.
Throughout the offseason, Cowboys’ negotiations with Prescott and Lamb took center stage, overshadowing Parsons’ looming contract situation. With two years left on his rookie deal, Parsons was third in priority for an extension. Cowboys EVP Stephen Jones confirmed that talks regarding a new deal for Parsons will be postponed until spring 2024. This decision aligns with Parsons’ own approach, as he seeks to elevate his performance before entering contract discussions.
“Micah made a conscientious decision that he thinks he can put together an even better year,” Jones shared during an appearance on 105.3 The Fan. “I think his play speaks louder than words.” Parsons’ strategy involves showcasing his talents under defensive coordinator Mike Zimmer this season, setting the stage for potential negotiations next year.
For now, Parsons is set to earn under $3 million this season. The Cowboys exercised his fifth-year option, positioning him to earn $21.32 million in 2025. However, his long-term extension is expected to significantly surpass these figures, given his elite performance. Parsons has tallied 40.5 sacks in his first three seasons and kicked off 2024 with another sack during the Cowboys’ Week 1 win. A healthy season with double-digit sacks could further boost his value heading into offseason talks.
Nick Bosa’s 2023 extension with the San Francisco 49ers, valued at $34 million per year, currently stands as the benchmark for edge rushers. This deal could serve as a reference point for Parsons’ contract negotiations. At just 25 years old, Parsons is poised to command a deal that could make him the highest-paid defensive player. In June, Parsons signaled his willingness to wait for the Prescott and Lamb deals to be completed, and for the salary cap to rise, before engaging in contract talks.
While Prescott secured an impressive $60 million average annual value (AAV), moving the quarterback market significantly, Lamb’s deal fell short of Justin Jefferson’s in value and guarantees. The challenge for the Cowboys will be balancing the massive cap hits associated with Prescott and Lamb while working out a lucrative deal for Parsons.
Despite the delay in contract talks, Parsons has expressed his commitment to remaining a Cowboy beyond 2024 and 2025. On his Off the Edge podcast, he affirmed his desire for a long-term future with the team. Whether the Cowboys and Parsons can align on the terms of a deal next offseason remains to be seen, but it’s clear both sides are keen on maintaining this partnership for years to come.
