Dallas Cowboys EDGE Micah Parsons saw his fifth-year contract option executed on Tuesday. Parsons is highly unlikely to ever play on the fifth-year option and the Cowboys are now tasked with signing him to a lucrative extension.
Parsons was scheduled to enter the fourth and final campaign of his rookie contract in 2024. He is now slated to earn $21.32 million in 2025, but Parsons shouldn't see the field this upcoming season without a multi-year extension.
The EDGE market has skyrocketed and Parsons is the type of superstar that deserves to reset the market once again. The most recent development at the position occurred days before the 2023 season began when San Francisco 49ers EDGE Nick Bosa signed a position-topping five-year, $170 million extension that pays him $34 million annually. Parsons' negotiation starts there. He’s finished second in Defensive Player of the Year voting twice and third once.
Parsons recorded a career-high 14 sacks this past season. The No. 12 overall selection in the 2021 NFL Draft has arguably been the most consistent pass rusher since entering the league, totaling 40.5 sacks and 89 quarterback hits across three campaigns. Parsons’ extension will reflect his productivity.
Parsons should demand to be the highest-paid player at his position in the league. A five-year extension worth $180 million would be appropriate. Parsons would earn $36 million annually via such a proposal, becoming the first defensive player in NFL history to begin approaching $40 million per year.
The Cowboys have sizable contract-related decisions to make in addition to Parsons. Quarterback Dak Prescott is positioned for an extension as he's set to enter the final season of a previously-signed four-year, $160 million extension in 2024. Prescott is slated to carry a $59.45 million cap charge. An extension would lower that number considerably. Prescott has a $29 million base salary and is due a $5 million roster bonus shortly after the new league year begins. While quarterback negotiations often command majority attention, the Cowboys can't allow Parsons' contract situation to take a backseat.
Recent history indicates Parsons would likely skip training camp before agreeing to play out his rookie contract. When the dust settles, the Cowboys will make Parsons the highest-paid defensive player in NFL history. We’ll see how long it takes to get there.