Cowboys already preparing for Micah Parsons extension with subtle contract move

If there's one thing Dallas Cowboys fans learned this offseason, it's that Micah Parsons' contract extension is not going to come easy. CeeDee Lamb missed practically all of training camp waiting for Jerry Jones to cave in his negotiation. He ultimately got $34 million per year and $100 million guaranteed, both of which are a tick under Vikings superstar Justin Jefferson.

While Dak Prescott was going to play regardless if he got a new deal, his negotiation dragged out until the regular-season opener.

This close to playing out the final year of his contract, Prescott agreed to a blockbuster four-year extension hours before kickoff against the Browns. He is now the highest-paid QB in league history both in terms of annual average value ($60 million) and guaranteed money ($231 million).

It would have behooved the Cowboys to get Parsons' extension done this offseason, but Lamb and Prescott's deals made that impossible. They are going to cut off an arm and a leg (figuratively speaking, of course) to pay Parsons and Jerry Jones is already laying the groundwork for it.

Cowboys already planning for Micah Parsons' contract extension in 2025

The Cowboys restructured the contract of right tackle Terence Steele to create $4.5 million in cap room, per ESPN's Todd Archer. No, Dallas isn't plotting a big trade. The savings from this maneuver will likely carry over into 2025, along with cap space saved on Dak and Lamb's extensions.

By extending Prescott, the team saved $11.75 million on the 2024 cap. Lamb's extension opened up a healthy $13.4 million. Including Steele's restructure, the Cowboys have freed up well over $20 million that will carry over into next year, when signing Parsons will be their top priority.

The move all but confirms that Dallas won't be moving on from Steele in 2025. Steele inked a five-year, $86.6 million extension worth $50 million guaranteed last year. He struggled in his first year back from ACL surgery, grading out as one of the worst tackles in football.

The Cowboys are confident that Steele will rediscover his 2022 form when he was a force at right tackle now that he is two years removed from the injury. The restructure won't age well if Steele doesn't have a bounce-back season, but if it helps sign Parsons Cowboys fans won't have any qualms.

Parsons became eligible for an extension after the 2023 season. Most teams would have jumped through hoops to get it done this summer. Just last week, the Broncos gave cornerback Pat Surtain, who was drafted the same year as Parsons, a four-year, $96 million deal.

The Cowboys could have done the same with Parsons, but they dragged their feet with Lamb and Prescott so Parsons got pushed back until 2025. They damaged their future cap in the process but at least they are already setting the scene for what is sure to be a dramatic negotiation.

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