Micah Parsons is one of the top edge rushers in the NFL and is entering the final year of his contract. Like Ceedee Lamb and Dak Prescott before him, he is a player that many have wondered why the Cowboys have waited so long to sign to an extension. However, one NFL analyst explained why the team is really waiting to sign their players to long-term extensions.
Mike Florio Explains the Real Reason the Cowboys Have Waited to Ink an Extension with Micah Parsons
Mike Florio, writer and analyst for Pro Football Talk, recently discussed Parsons’ extension on the “Pro Football Talk Live” show.
He said, “One of the hidden benefits for NFL teams is, if you have a great player that you picked in round one, you know you have the fifth-year option. If you can get through year three or four, where what the guy gets is peanuts in comparison to his value … whatever you pay him later, you’re never, ever making up the gap.”
Parsons made just under $3 million in 2024, and while his extension will cost significantly more per year now than it would have last year, they did save significant money by waiting. Florio’s point is interesting because when discussions occur about teams waiting on an extension, the only angle typically discussed is how much more the player will cost because the team waited to sign them to a new contract.
Maxx Crosby and Myles Garrett reset the market for edge rushers with massive extensions this offseason. Crosby set the market early in the offseason when he signed a three-year, $106.5 million contract with $91.5 million guaranteed, making him, at the time, the highest-paid non-quarterback in NFL history. Garrett’s deal shattered that number, with his four-year extension worth $40 million per season and $123.5 million guaranteed.
While the Cowboys got a bargain in 2024, his contract number could continue to rise. Pittsburgh Steelers T.J. Watt is also entering the final year of his contract and is not attending mandatory minicamp. With Watt potentially getting a new deal before the start of the 2025 season, Parson’s asking price will only go up, especially considering the difference in age between him and these other high-paid edge rushers.
Bengals edge rusher Trey Hendrickson is also looking for a contract extension. While it’s unclear if he’ll get one from the Bengals, he is another player who could impact the market at the position.
Parsons made the Pro Bowl in his first four NFL seasons, totaling 52.5 sacks, 63 tackles for loss, and nine forced fumbles. In 2024, he registered 43 tackles (40 solo, 13 assists), 12 tackles for loss, 12 sacks, 23 quarterback hits, and two forced fumbles.
After finishing in third place in the NFC East in 2024 with a 7-10 record, Parsons and the Cowboys will look to bounce back to the form that led them to 12 wins in the three previous years.
Parsons’ contract situation will be worth monitoring as the season approaches. Whether he or one of the other edge rushers gets a contract first remains to be seen, but the market at the position could soon be reset once again.