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Joe Rondone / The Republic / USA TODAY NETWORK / USA TODAY NETWORK

The Dallas Cowboys want to extend Micah Parsons' contract, here's how much that will cost them

Originally posted on A to Z Sports | By Josh Queipo | Last updated 5/9/24

The Dallas Cowboys have benefitted from the best-valued contract on the defensive side of the football since 2021.

Micah Parsons has been a star in Dallas since his first season, when he earned the NFL Defensive Rookie of the Year award and his first of two first-team All-Pro nods. He continued his excellence by following it up with the second first-team All-Pro the next season, and a second-team All-Pro selection in 2023.

Now, Parsons is in position to reset the market as the highest-paid defender, and he might do so by a well-deserved margin.

The Cowboys have an alarming amount of void money pushed into future years that is set to accelerate against 2025’s cap, and Dak Prescott’s contract is set to expire. The $80 million they currently have in projected cap space will be gone quickly if they re-sign Prescott and reload their roster.

Extending Parsons this offseason can help lower his $21,324,000 cap hit in 2025, and spread out his cap burden into future years when they’ve hopefully reset their cap situation.

If we look at the premiere edge rushers with the highest percentages of cap share retroactive to the date of their extension, and accumulate their stats for the three seasons prior to their extension, Micah Parsons is a clear standout in the group:

Via A To Z Sports

Parsons and T.J. Watt share the distinction of being the only two players that made the Pro Bowl in all three seasons and the first-team All-Pro team twice. Parsons outpaced his peers in sacks, total pressures, and percentage of pressures in pass rush snaps, and was second in tackles for a loss and stops. Micah has a strong argument that he deserves a higher valuation than any player on this list.

These players signed over a wide range of time, so it’s important to break down what their APYs were as a percentage of the cap relative to when they signed.

Via A To Z Sports

When T.J. Watt signed his extension in 2021, it was unclear whether his cap share significantly surpassed Myles Garrett’s valuation because of the contracted salary cap following the COVID year, or if the significant statistical differences between Watt and Garrett’s preceding three years simply boosted his value. The answer came in 2023, when Nick Bosa signed a $34 million APY contract after three years of play that surpassed Watt’s in most counting statistics.

With Watt and Bosa justifying a 15% cap share for a premiere edge rusher, Parsons could be eyeing an APY of $38,300,000. The perception of a $4,300,000 increase above Nick Bosa’s APY will be a difficult pill to swallow, and after some negotiations Jerry Jones and Micah Parsons will meet in the middle to make Parsons the highest paid defensive player, but at a cap share that tucks between Garrett and Bosa’s.