Reports surfaced in the days leading up to free agency that the Cowboys were prepared to release him at the start of the new league year. However, things changed and Dallas is now holding out for a potential trade.
The Texans and Broncos appear to be the only team realistic landing spots, but neither team has shown any interest in trading for Romo. If Romo’s contract were more in line with his market value, there’s at least a chance that Dallas could recoup a late-round pick for him.
The more likely scenario remains that the Cowboys will hold out for a draft pick but eventually designate him as a post-June 1 release.
This past weekend, reports surfaced that Romo is being courted by FOX and CBS to join their broadcasting team, so retirement could still be an option for him, depending on how things play out in the next month or so.
Romo, 36, is entering the fourth year of his seven-year, $119.5 million contract that included $55 million guaranteed. He stands to make base salaries of $14 million (2017), $19.5 million (2018) and $20.5 million (2019).
According to OverTheCap.com, releasing Romo as a post-June 1 release will free up $14 million in available cap space while creating a staggering $10.7 million in dead money.
In 2016, Romo appeared in one game and completed three of four passing attempts for 29 yards and a touchdown for the Cowboys.
We’ll have more regarding Romo as the news is available.