Ferguson over Parsons? Cowboys’ priorities questioned after $52M extension

The Dallas Cowboys surprised just about everyone on Sunday by signing tight end Jake Ferguson to a four-year, $52 million extension, including a $12 million signing bonus and $30 million in guaranteed money - a hefty payday for a player who hasn’t exactly produced at an elite level. But the real headline isn’t just the number. It’s the timing: Ferguson got paid before Micah Parsons, the team’s defensive superstar.

Ferguson is coming off a disappointing 2024 campaign, where he posted 59 receptions for 494 yards and failed to find the end zone even once. Let’s not forget the four fumbles, two of which resulted in turnovers. While injuries and a midseason concussion contributed to his down year, the Cowboys are clearly betting that the version of Ferguson from 2023, when he caught 71 passes for 761 yards and notched five touchdowns, is who he really is.

What’s more puzzling to fans and analysts alike is that Dallas chose to finalize Ferguson’s deal before making progress on Parsons’ contract. Parsons, widely regarded as one of the most dominant defensive players in football, has yet to receive a long-term extension. He’s eligible and has made it clear he wants to be paid like a franchise cornerstone, which, to be fair, he is.

Parsons: Still waiting, still underpaid

Micah Parsons is entering the fifth and final year of his rookie contract in 2025. The Cowboys picked up his fifth-year option, but they’ve yet to finalize an extension, a move that’s becoming increasingly risky. Parsons has made three Pro Bowls, been named All-Pro twice, and finished top three in Defensive Player of the Year voting every season. His market value only climbs by the day.

Waiting this long opens the door to a possible contract showdown or worse - discontent behind the scenes. Other top pass rushers like T.J. Watt and Nick Bosa are already making $30–35 million per year. Parsons’ floor starts there, and the longer Dallas waits, the higher it goes.

Other Cowboys players waiting on extensions

The Cowboys also need to think ahead on other extension candidates like cornerback DaRon Bland, who broke out in 2024 with a league-leading number of interceptions, and left tackle Tyler Smith, who could command a hefty raise in 2026. Kicker Brandon Aubrey and newly signed wide receiver George Pickens are also due for extensions this season.

What’s the front office strategy?

Ferguson, a fourth-round pick in 2022, has shown promise, particularly as a red-zone threat and reliable target for Dak Prescott. He’s also a locker-room favorite and seen as a cultural fit in the Brian Schottenheimer–led offense. But $52 million over four years for a tight end with one standout season (and another mired in inconsistency) suggests the Cowboys are either extremely confident in their projection or feeling the pressure to lock down rising players before prices spike.

It’s worth noting that Stephen Jones mentioned Ferguson and Bland as top extension priorities earlier this offseason. But with Parsons (and others) still waiting for long-term deals, this latest signing will only add to the scrutiny surrounding the Cowboys’ roster planning.

In the end, the Ferguson deal may prove smart if he rebounds under the new coaching regime. But until Parsons gets his payday, the optics of paying a tight end with seven career touchdowns more than $13 million per year are hard to ignore.

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