The first wave of NFL free agency is in the box. After a chaotic opening week, the frenzy has cooled, giving us a chance to evaluate the Dallas Cowboys’ performance.
To nobody's surprise, the Cowboys prioritized improving their defense. They clearly sought to raise the floor rather than swing for the fences. That calculated approach is commendable, but it proved to be the difference in negotiations with linebackers Devin Lloyd, Nakobe Dean, and Quay Walker.
Add us as a preferred source on GoogleStill, Dallas undoubtedly improved in the first wave. With Cowboys fans in a holding pattern awaiting the team's next move, let's take a look at some of the biggest winners and losers.
Dallas Cowboys winners and losers after the first wave of free agency
Winner: Dak Prescott
Continuity on offense is a quarterback's best friend, and the Cowboys will be returning their entire starting offense next season after they re-signed running back Javonte Williams and franchise-tagged wide receiver George Pickens.
Whether Pickens plays on the tag or on a new contract remains to be seen, but the front office has affirmed he'll be playing in Dallas.
That’s all that matters for Prescott, as he and Pickens developed elite chemistry in their first season, connecting 93 times for 1,429 yards and nine touchdowns. Prescott posted a 120.2 passer rating when targeting Pickens, underscoring just how dominant the duo became.
Williams' return is just as important for QB1. Not only did he provide efficiency and physicality to the rushing attack, but his pass-blocking rivaled that of any running back. Always willing to throw his body on the line to shield Prescott, Williams is the definition of a team player. His box score was a sight to behold, but his impact goes beyond it.
Winner: Kenny Clark
Various national NFL writers penciled Clark as a cap casualty this offseason. While cutting Clark would have freed up $21 million in cap space, Clark's fate was always going to hinge on who Dallas hired as its defensive coordinator.
Well, hiring Christian Parker couldn’t have worked out better for Clark. Their time together in Green Bay, combined with Clark’s natural fit in Parker’s scheme, undoubtedly played a role in Dallas restructuring his contract and trading Osa Odighizuwa to San Francisco.
Trading Odighizuwa sent shockwaves through Cowboys Nation and may ultimately backfire. At the same time, it was a clear vote of confidence that Clark will flourish next to Quinnen Williams in Parker’s defense. The 30-year-old is going to get all the snaps he can handle.
Winner: Donovan Ezeiruaku
On one hand, Ezeiruaku is recovering from offseason labrum surgery and could miss multiple months. That's not ideal, but Ezeirualu is a winner in the bigger picture.
After all, the Cowboys got him some needed help at outside linebacker in Rashan Gary, who compiled 54 pressures, seven sacks, and a 71.8 run-defense grade with the Green Bay Packers last season.
They still need to add another edge, potentially through the NFL Draft, but the bottom line is Ezeiruaku needed support. He remains the foundation of Dallas’ pass rush after a promising rookie year, and Gary's arrival gives Christian Parker two OLBs who pack a punch against the run.
Asking Ezeiruaku to carry the edge room would have been a disaster. Adding Gary helps remedy that, and the front office likely isn’t done adding pass-rushing talent.
Winner: Shemar James
James is a winner by default, as Dallas somehow failed to sign a linebacker in the first wave of free agency. If the season started tomorrow, DeMarvion Overshown and James would be the starting inside linebackers.
That won’t be the case come September, but it’s clear the linebacker room won’t undergo the facelift fans expected after last season. While Kenneth Murray, Jack Sanborn, and Logan Wilson won't be back, the unit still needs two starting-caliber players, and the options are slim.
That’s great news for James, who now has a clearer path to playing time than initially expected. In a best-case scenario for the Cowboys, though, he enters training camp as LB4 and can spread his wings as a core special teamer.
Loser: Shavon Revel Jr.
It was inevitable that Dallas would add at least one cornerback in free agency. The hope was that they'd pay up for a starting nickel, but that takes nothing away from the Cobie Durant signing.
While undersized and experienced in the slot, Durant has primarily played on the boundary in his career. That does not bode well for Revel, who had a rough go of it in seven games after he was activated off injured reserve, allowing a 119.7 passer rating when targeted, per PFF.
In fairness to Revel, he’s a press-man corner who was miscast in off coverage under Matt Eberflus. He figures to benefit from the new coaching staff, but if the Cowboys draft a cornerback with one of their two first-round picks, it wouldn’t be surprising if the 2025 third-rounder opens next season in a rotational role.
Loser: Joe Milton
The vast majority of Cowboys fans expected the team to run back the same quarterback room: Dak Prescott, Joe Milton, and Will Grier. Needless to say, the signing of Sam Howell came as a surprise.
That said, it’s a very smart move. If Prescott were to miss the 2026 season opener, who would you feel more comfortable starting: Milton or Howell? With 18 career starts over four years, Howell has a compelling case, as Milton has yet to start a game in two seasons.
Signing Howell doesn't mean Dallas has given up on Milton. It hasn't even been a year since they traded for him. However, it should light a fire under the 26-year-old, who suddenly has competition for the backup job behind Dak Prescott.
Loser: Markquese Bell
Like cornerback, signing a safety early in free agency was a non-negotiable. While veteran Jalen Thompson is a home-run addition who will wear multiple hats in Parker’s defense, the Cowboys also signed P.J. Locke, who started 15 games for Denver in 2024.
While Locke figures to be a rotational safety and a core special teamer, Bell is now part of a crowded safety room that entered free agency as thin as any in the league.
The good news for Bell is his versatility. He’s comfortable dropping into the box after playing full-time linebacker in 2023, and he tackles with purpose. But where does he fit? Thompson and Malik Hooker are locked in at safety, and Locke has experience under Parker from their time in Denver.
That will get answered in training camp, but Bell has a lot of ground to make up.