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Cowboys Close To Reaching An Extension With Tony Romo?

Update:

Cowboys’ owner Jerry Jones seemed to suggest that they could be close to reaching an agreement with QB Tony Romo on a contract extension, according to Calvin Watkins.

Jones reportedly added that a deal is not weeks away.

Previous reports indicated that the two sides have been talking in recent days and Dallas could clearly use the cap space that would come from an extension. As of now, the Cowboys have less than a $1 million to work with, which won’t be enough to sign their draft picks in the coming months.

It will be interesting to see the amount of guaranteed money he’s able to secure in his next deal.

 

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According to Matt Mosley of FOX Sports, Cowboys QB Tony Romo could be targeting as much as $40-$45 million guaranteed in his next contract.

Mosley also expects them to include a large signing bonus that will help to lower his cap hit for the time being.

For the sake of comparison, Drew Brees signed a five-year extension worth $100 million and included $40 million guaranteed last year.

Romo, 32, was most likely waiting for Joe Flacco to get his deal out of the way and use that as a basis for his next deal. Flacco received $52 million in guaranteed, but it’s also worth noting that he just won a Super Bowl and is still only 28 years old.

The Cowboys haven’t done themselves any favors by not drafting a young quarterback to develop, so Romo has plenty of leverage to work with, despite having won only a single postseason game in his career.