Jerry Jones would not have envisioned the Cowboys 3-6 down after handing out hefty contracts to Dak Prescott and CeeDee Lamb. Securing the commitment of two of his most valuable assets hasn’t provided any comfort to Jones with coach Mike McCarthy unable to get an upturn in results. Amidst this tough season, the future of arguably the most valuable non-quarterback in the league, Micah Parsons, is far from clear.

While Lamb and Prescott were putting pen to paper on their extravagant deals, it was reported that Parsons’s future would only be decided in the next offseason. Currently sitting on a $21.3 million fifth-year option for 2025, Parsons is due for a noteworthy extension and he came up with a message to highlight his importance to the team.

Taking to X on Tuesday, he tweeted, “Defense wins championships!! Build this defense while we got young superstar! We will win more games holding teams to 20 or less points then offensive shoot outs!! Facts!!” Even though the Cowboys have struggled both offensively and defensively, Parsons’s value to the team is undeniable.

So far this season, he has made 16 total tackles and 3 sacks, but a look at his record at the team since his arrival, will tell you why he deserves a contract similar to Prescott and Lamb. In 51 games he has played before this season, he made 217 total tackles, 41.5 sacks, nine pass deflections, and seven forced fumbles. Last season, he had the best stint of his career attacking the quarterback, with 103 total pressures, including 14 sacks.

Coming to his current contract situation, this season he is in the fourth year of his rookie contract, originally signed for four years and $17.1 million in 2021. The 25-year-old is raking in a base salary of $2.9 million with a $2.45 million signing bonus. But one of the best defensive players in the league will be hoping for a big offer from Jones, at least in the ballpark of what he provided to Lamb and Prescott.

The Cowboys have recently locked in Dak Prescott and CeeDee Lamb at $240M and $136M, respectively, but Parsons’s situation is far more trickier. Right now the franchise is projected to have $25.65 million in cap space in 2025, with a possible $20 million in rollover cap. That means their adjusted cap space for 2025 sits at $45.65 million. That’s a good amount but it doesn’t include re-signing players on expiring contracts. So where does that leave Parsons and the Cowboys?

Well, Parsons can fetch an average of $40 million per season starting in 2025, which leaves the Cowboys in a precarious situation.

With top defenders like T.J. Watt and Myles Garrett also needing new contracts soon, Parsons’ agent, David Mulugheta, is likely aiming high, but in the current scenario, it won’t be easy.

However, come 2026, the situation might be better with the team having a projected $123.6 million in cap space. But they will have to ward off interest from other franchises for their edge rusher with talks over a new contract likely to happen after the end of this season.

Following their season-opening win against the Cleveland Browns, the Cowboys Executive Vice President Stephen Jones addressed Parsons’s situation saying,

“Right now, it’s certainly not anything that’s on the table. Micah made a conscientious decision that he thinks he can put together an even better year.” The season hasn’t gone according to plan for the player or his team, but that should not take away from how much of a valuable asset Parsons is. If Jerry Jones is serious about building a contending team, Parsons will have to be a part of it.

The player himself appears to be eager for a new contract and sees his future at Dallas. Speaking in July, he was quite clear in his mind about priorities.

“There’s nothing like wearing the star when you do it the right way. So in terms of being here, I want to be here my whole life,” Parsons said.

Parsons has highlighted veterans like Zack Martin, hinting that they deserve better than what’s happening. While he wants to build a great defense, the team’s overall performance could dictate his choices moving forward. As analysts point out, if the Cowboys stay mediocre, it raises serious questions about Parsons’ future in Dallas. 

But he is not the only one, whose future is under a cloud.

Mike McCarthy’s future and the Cowboys’ crisis

Now, let’s talk about Mike McCarthy. His future is looking shaky with the Cowboys sitting at the bottom of the barrel. However, Jones backed his HC after the recent defeat to the Eagles, saying, “Mike is a heck of a coach, a great coach in my mind. [He] has and should have the opportunity to do better than we’re playing right now. I haven’t had good experience changing coaches in the middle of the season.”

As the Cowboys move deeper into the season, lingering questions about McCarthy’s future will overshadow any decisions about Parsons. This chaos isn’t just about a losing record. It’s about the future of the whole franchise. Will they rebound, or is it time for a reboot?