Dallas Cowboys superstar EDGE Micah Parsons is expecting to sign a contract extension with the team this offseason, he told reporters in the locker room earlier this week. Parsons was candid, claiming he doesn't need to be the highest-paid defender of all time.
“I don’t need $40 million per year," the fourth-year defender said.
An interesting summer awaits.
This offseason represents the ideal time for Parsons to ink his extension. The former Penn State standout will enter a contract year, the previously triggered fifth-year option that will pay him a fully guaranteed $21.3 million in 2025. Parsons will sign a multi-year agreement that kicks in during the 2026 campaign.
Our full story on Micah Parsons discussing his contract expectations and what he wants from the #Cowboys in exchange for his willingness to take less than market value. https://t.co/3LYh88nEaC
— Ed Werder (@WerderEdNFL) December 19, 2024
Parsons has finished in the top three in NFL Defensive Player of the Year voting throughout all three of his professional campaigns. That streak likely concludes this year, considering the elite pass rusher missed four contests with a high-ankle sprain. His dominance has still been evident when healthy. He leads the Cowboys with 8.5 sacks. Mike Zimmer's defense consistently compiles sacks and takeaways due to his presence. Since returning from injury in Week 10, Parsons ranks first in the NFL with 7.5 sacks, first in pressures with 33, and second with 13 quarterback hits.
The Cowboys could certainly use some of the selflessness Parsons discussed earlier this week. Before the season started, they signed quarterback Dak Prescott to the richest contract in NFL history on a per-year basis, a four-year agreement worth $260 million, paying him $60 million annually. Jerry Jones also signed CeeDee Lamb to a four-year extension worth $136 million, $34 million per year, making him the second-highest-paid receiver in NFL history.
The Lamb and Prescott extensions will have a profound impact on the Cowboys' financial flexibility moving forward. They're slated to possess just $9.7 million in effective cap space this offseason, according to Over The Cap's salary calculator. That figure is scheduled to increase to $71.8 million in 2026, with the obvious caveat being that Parsons' eventual multi-year extension isn't yet taken into account.
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— Patrik [No C] Walker (@VoiceOfTheStar) December 19, 2024
Micah Parsons had a lot to say about his contract status and future with the #Cowboys — because he was asked a lot about it today (a lot) — and he was clear in his intentions.
Including the fact he has no plans on holding out of training camp, and why.… pic.twitter.com/bPt0xYKSZZ
Just because Parsons claims he doesn't need $40 million per season doesn't mean he won't become the highest-paid defender. That bragging right currently belongs to San Francisco 49ers EDGE Nick Bosa, who signed a five-year extension worth $170 million, paying him $34 million annually. Parsons' extension should surpass that deal.
Parsons could sign a five-year extension with the Cowboys worth $175 million. That would pay Dallas' premier defender $35 million annually, making him the highest-paid edge rusher in the league from both a total value and per-year perspective. He'd essentially surpass Bosa by $1 million annually. Parsons is well-positioned to ask for $40 million per year, but an agreement in this neighborhood would achieve his intention of taking a hometown discount while still realizing his true value and dominance.
The Cowboys will have significant funds tied into their three superstars following the finalization of Parsons' extension. A little hometown discount will help Jerry Jones fill out the other spots on the 53-man roster. Parsons is thinking Super Bowl, but he'll still become the highest-paid active defender in the NFL.
