Mo money, mo troubles.
That’s very much the theme for the Dallas Cowboys’ 2024 offseason, as financial constraints have prevented them from not only signing significant free agents, but also extending the stars on their squad.
Quarterback Dak Prescott, wideout CeeDee Lamb, and edge rusher Micah Parsons, all among the finest at their professions, are all seeking market-setting deals. Despite all of the talk in the NFL about the importance of signing these players, Cowboys brass has yet to sign any of the three, even though training camp begins on July 24.
During an appearance on the “Scoop City” podcast, Cowboys CEO Stephen Jones, son of owner Jerry Jones, discussed why the organization has been so hesitant to spend significant money to bring one, two, or all of its Holy Trinity of superstars back into the fold long-term.
Well, those things take time. When you start piling them like that, it becomes a difficulty. It’s not impossible, but you’ll need to compromise if you want to achieve it.
The fact that he indicated that he requires some “give and take” implies that these players’ agents have different opinions about their clients than their employers.
Jones is correct that large transactions like these take time—but the Cowboys have had almost half a year to negotiate terms and compromises with these players since Dallas was eliminated from the playoffs in January. And there are still no deals.
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Jones said they’ll have to “play Houdini” to complete all three agreements.
So far, the ongoing contract negotiations have had just a minor negative influence on the team—but this may not last long. While Prescott seems confident that Lamb would attend training camp without a contract, Cowboys insiders believe the All-Pro wideout will continue to hold out (as he has during all summer exercises thus far) when training camp begins on July 24.
Without an extension, Lamb will be playing on the Cowboys’ fifth-year team option on his rookie contract, which will pay him slightly less than $18 million in 2024.
Prescott, meanwhile, is negotiating his third contract with the team and will be paid $29 million in 2024, the final year of his contract. Prescott’s situation will be the most difficult to manage because his contract is the largest, and he also has no-trade and no-franchise tag rights.
Parsons, the group’s youngest player, is in the fourth year of his rookie contract in 2024, which pays him little under $3 million. Dallas has a club option for 2025, but Parsons is available to sign an extension now, and given his low salary, it’s reasonable that he doesn’t want to wait.
Prescott’s performance will undoubtedly be the most important of the three, since he is one of the best quarterbacks in the NFL at a time when there is a shocking lack of consistent, quality play under center. He has struggled in the playoffs, but three consecutive 12-win seasons and an MVP runner-up in 2023 are not to be taken lightly.
Prescott’s is also the most difficult because he essentially controls the situation with his no-trade and no-franchise provisions. If the quarterback decides to go in free agency in 2025, the organization has nothing to do. The sticky problem is that Prescott is likely seeking for a deal that exceeds Trevor Lawrence’s recent five-year, $275 million contract.
That’s a hefty sum—even for the Joneses—that would necessitate the franchise’s complete trust that Prescott is the man to bring them to the promised land they haven’t seen in three decades.
Stephen discussed how such a hefty commitment has driven the Cowboys brass to try and play a little magician this offseason (but, so far, without success):
And of course, there’s Dak. Obviously, his résumé speaks for itself. He finished second in MVP voting last year. He’s had an outstanding career here in Dallas. And, you know, those things just take time when you consider the amount of money involved. And, of course, we’re trying to play Houdini by keeping all of these individuals around Dak and the players we were fortunate enough to draft.
Despite all of these looming agreements and a dearth of free agent action, Dallas remains ranked 23rd in the league, with around $10 million in cap space for the 2024 season. However, they are likely to have more than $67.5 million to deal with in the 2024 offseason, which could explain why they have been sitting on their hands all spring and summer.
The Cowboys have a little more time and leeway with the other two, as they could just franchise Lamb next summer (though if he insists on holding out, things may become a little dicey) and work on Parsons’ extension then, when they’ll have a lot more money on hand.
Even so, while discussing these ever-increasing non-QB contracts, Jones sounded more than a little miffed at how much the Minnesota Vikings paid Justin Jefferson to make him the highest-paid non-QB in football, as Lamb will undoubtedly be looking for a deal to at least match, if not exceed, his 2020 draft classmate:
You know when you’re talking about CeeDee and Dak, and you see someone like Micah coming up. I mean, you’re talking about two non-quarterback players who feel like they should be paid similarly to (the Vikings’ Justin) Jefferson, the league’s highest-paid non-quarterback.
I know the Vikings were with Jefferson when they made that outrageous contract at wide. Except for Jefferson, no other player on their club earns more than $20 million.
Jones has a point, as Minnesota does not have any other important players up for big extensions, allowing them to reward Jefferson with a hefty contract. But that’s the price you pay for good drafting: several of your players will be worth large money.
In the end, it appears that at least one of Dallas’ Holy Trinity will leave the Big D in 2025 (or 2026, for Parsons), and if Jones does not stop whining about how difficult it is to match deals like the ones Jefferson and Lawrence signed this offseason and begin hammering out the details for a few of his own, the Cowboys may lose the entire trio.