The Cowboys have over $37 million in cap space and 10 selections going into this draft. But their war room isn’t only focused on draft boards; it’s also looking at trade lines. With a fan base still hurting after a 7–10 season, the quarterback room is in flux behind Dak Prescott. And Jerry Jones’ team, which is aging in critical places, is under pressure to sign impact players as soon as possible. The Dallas Cowboys are making every effort to appear calm, at least in public.

And as per the Jones family, they plan to do that with a pair of “pretty substantive trades” in the NFL draft 2025.

Substantive. That was Jerry Jones’s word of choice. And you can be sure it’s loaded when he uses a word that big. The Cowboys’ owner hinted Tuesday that two “pretty substantive trades” might either restart or restructure the Cowboys’ roster before or after the draft. Jerry Jones’ son, Stephen Jones, acknowledged that those possibilities remain, noting on 105.3 The Fan: “I think those are things that could still be there after the draft. Sometimes those things have a way of sticking around. Sometimes they don’t. We’re always looking at ways to acquire players.”

And this isn’t your average draft-week hyperbole. This offseason, Dallas has already made quiet but clever trades for corner Kaiir Elam and linebacker Kenneth Murray Jr., continuing a pattern of post-hype pickups that provide depth without creating a lot of fuss. However, those who are eager for another Amari Cooper-style moment may want to keep their phones handy.

Not to mention the team’s lengthy trading history: Since Jerry acquired the franchise in 1989, there have been 72 trades—the most in the league. Micah Parsons was the result of their most recent 2021 first-round move-down. Is it a coincidence or a blueprint? Either way, with EVP Stephen Jones confirming they had 13 first-round grades on their board—and still have some left—it’s clear Dallas is keeping all its options open, whether they’re on the clock or on the phone.

The possibility of a seismic motion lies at the meeting point of all those pressures. The “substantive trades” Jerry Jones hinted at might turn out to be Dallas’s most significant springtime move, whether they occur on draft night or in the days that follow.

Jerry Jones isn’t just trading—he’s plotting the perfect draft heist

Amidst the background chatter about trades, Stephen Jones remains steadfast in his belief that the Cowboys will not impose any demands, specifically on the running back position. He told 105.3 The Fan, “We don’t really feel like we have to pick a position anywhere. We don’t feel the need to have to reach.” They mean it, too. According to Stephen, several of the 13 players with first-round grades that Dallas is apparently considering are still open. For a team attempting to strike a balance between short-term roster gaps and long-term talent acquisition, that is good news.

Running back? Not required. QB backup? Undoubtedly in play. Offensive line? The selection of Tyler Booker of Alabama at No. 12 has already addressed this issue, but Dallas’ price chart may be the most telling part of their draft strategy. “I think you need at least a second and a fourth, and probably more like a second and a late third,” Stephen Jones said in response to a question about trading down from No. 12 to No. 25, a move the Texans reportedly considered.

Translation: Unless they were completely outclassed, Dallas wasn’t going to make an out-of-range trade for another Micah Parsons. Houston’s offer failed to do that. Thus, Booker was added to protect Dak Prescott and whoever’s backing him up.

And speaking of backup quarterbacks, neither Cooper Rush nor Trey Lance should be expected to make a comeback. “Unfortunately, we do have to go cheap,” Jones said at backup quarterback, implying that financial limitations make it improbable, particularly because Lance is probably searching for a better opportunity elsewhere. That makes room for a young quarterback to be selected in the draft, though it’s unclear where and when. “I think one of our goals is to get a young quarterback in the draft,” Jones stated bluntly.

So, Dallas is willing to choose a quarterback. They’re not going hunting, though, and they are allowing the board to fall. They now have some breathing room thanks to their free agency haul, which included savvy but quiet additions. “I think we overall did a much better job than last year,” Stephen said. “It’s going to make us a deeper football team.”