Cowboys lock in another key player with big-money deal

The Dallas Cowboys have spent some significant money this offseason and have a couple of key players in the market for new deals over the next couple of years in quarterback Dak Prescott, wide receiver CeeDee Lamb and defensive end Micah Parsons.

But before they could get any of them signed to long-term extensions, they were able to reach a new deal with starting right tackle Terence Steele on a five-year, $86.8M contract extension on Sunday. 

That deal will reportedly carry more than $50M in guarantees.

Steele joined the Cowboys as an undrafted free agent at the start of the 2020 season and became an immediate starter on their offensive line. Had the Cowboys not signed him to an extension he would have been one of the most sought-after players on the open market as a free agent. Since joining the team he has started 40 games over three years and also managed to catch one touchdown pass during the 2021 season. 

His new contract continues what has been a stretch of significant spending by the front office this offseason.

Along with getting Steele signed, the Cowboys also signed cornerback Trevon Diggs to a five-year, $97M deal, while safety Malik Hooker received a three-year, $24M deal. They also reworked the contract for starting right guard Zack Martin by guaranteeing him $36M over the next two years.

With those deals all completed, the focus now turns to Lamb who is looking for a new contract, as well as Prescott who is signed through the end of the 2024 season. Parsons will be eligible to sign a new contract extension after this season, and it figures to make him one of the highest-paid defensive players in the NFL, if not the highest-paid player.