The Dallas Cowboys have spent a lot of money this offseason. Between re-signing their own free agents, signing outside free agents, and making trades, the team has allocated almost $70 million to their 2025 budget for the services of those players (see the full breakdown here).

With all the activity that has taken place, there still remains one business matter needing attention, and that is re-signing their star edge rusher, Micah Parsons. The team’s 2021 first-round draft pick is still under contract through the 2025 season thanks to the team exercising his fifth-year option last year. All signs are pointing to a lucrative contract extension at some point before the new season begins. Stephen Jones has communicated to the media that a deal will eventually happen, but didn’t elaborate on when that would be. When everyone’s ready, it’ll happen.

One might think that the urgency to get a deal done falls upon the front office since they don’t want him to hit the open market next offseason. There’s no chance the Cowboys will allow that to happen. However, unlike Dak Prescott a year ago, the team still has an ace up their sleeve to keep Parsons in Dallas another season. And that ace is the franchise tag.

If the Cowboys aren’t able to get a deal done this year, the team can choose to slap the franchise tag on him next offseason. This move would most likely serve as a placeholder to keep him off the market and allow them to mid July of next year to finalize a long-term deal. Parsons’ annual cost would be cheaper than his average annual cost of a new deal because the tag price is an average of the top five salaries of players at his position, versus a cost that will make him the highest-paid non-quarterback in the league. His full tag price would count against the cap, whereas his first-year cap cost would be much cheaper if he signed a new deal.

We would all just as soon have them get the deal done and over with, but the franchise tag next offseason is certainly an option available to them. However, that route becomes far less appealing if there is another player who might also be a candidate for the franchise tag. And there could be if the team also chooses not to re-sign DaRon Bland.

The Cowboys keeping Parsons is a foregone conclusion. What they do with Bland remains a bit of a mystery. Bland burst on the scene in his second season with an impressive nine interceptions, five of which were returned for touchdowns. He missed part of last year with a foot injury, but was solid despite not filling up the highlight reel anywhere close to his big 2023 season.

The team already extended Trevon Diggs a couple of years ago, but a grey cloud of doubt has crept over his future as the All-Pro has struggled to stay healthy. The team soon may have to choose which of their All-Pro corners they want to hang on to and part ways with the other one. If that’s the case, which one do they pick?

That question is a lot harder to answer now than it would be after the season, which is why it could be wise for the team to have the franchise tag as an option next offseason. If the team already knows they want to keep Bland, then they should work on an extension before the new season starts. If they want to wait and see and give them more time to choose between him and Diggs, then waiting is the way to go. The only thing that muddles the water is not re-signing Bland or Parsons, forcing two key defensive players into free agency with only one franchise tag at their disposal. That would cause an unnecessary predicament.

This dilemma can easily be avoided if they just extend one or the other. Parsons is the obvious choice because we all know he’s returning, and the only thing holding it up is the song and dance hoopla that seems to accompany any Jerry Jones contract extension these days. Sign Parsons this summer and save the tag option for Bland, where the added flexibility could be put to good use.