Trey Hendrickson’s new deal with the Bengals sets a market value for top edge rushers, potentially influencing Micah Parsons’ negotiations with the Dallas Cowboys.
With other holdouts resolved, pressure mounts on the Cowboys to reach an agreement with Parsons before the season starts.
Two out of the NFL’s three highest profile contract holdouts ended on Monday. Jerry Jones, you’re up.
First, the Washington Commanders signed wide receiver Terry McLaurin to a three-year extension Monday morning. Then, Trey Hendrickson and the Cincinnati Bengals agreed to a unique solution to their contract negotiations Monday, ending a months-long standoff between the star defensive end and his team.
That leaves the Dallas Cowboys and edge rusher Micah Parsons the last pair of team and disgruntled star to figure out a new deal ahead of the 2025 regular season, which begins Thursday, Sept. 4.
So how does Hendrickson’s deal with the Bengals impact Parsons’ negotiations with Dallas?
There are several ways.
How Trey Hendrickson deal affects Micah Parsons negotiations
First, and most obviously, Hendrickson’s pay raise of $14 million – giving him a $30 million salary for 2025 – aligns with the market standard for top edge rushers.
The Bengals defensive end’s updated contract is now essentially a one-year, $30 million deal. That $30 million average annual value (AAV) ranks sixth among NFL edge defenders, between the contracts of San Francisco 49ers’ Nick Bosa ($34 million) and Jacksonville Jaguars’ Josh Hines-Allen ($28.25 million).
That value for Hendrickson’s one-year, kick-the-can-down-the-road solution should set the floor for Parsons’ deal in any contract negotiations. At a minimum, he should expect to make $30 million in 2025.
In addition, the unique solution for Hendrickson’s contract could provide some inspiration for the Cowboys and Parsons’ agent, David Mulugheta.
Rather than prolonging a holdout into the start of the regular season, Hendrickson agreed to a short-term solution of a one-year pay raise rather than continuing to push for a multi-year deal with more guaranteed money.
It’s a similar solution that edge rusher Maxx Crosby agreed to with the Las Vegas Raiders last year before he received a three-year extension this offseason. Crosby got $6 million in extra money ahead of the 2024 season. Hendrickson’s reworked deal more than doubles that money and sets a new baseline for a similar solution between Parsons and the Cowboys.
Finally, and also obviously, Hendrickson’s deal with Cincinnati leaves Parsons and the Cowboys as the final major contract holdout without a solution ahead of the regular season.
With both of McLaurin and Hendrickson’s holdouts ending Monday and the start of the regular season 10 days away, pressure is only increasing for Jones and the Cowboys to figure something out with their star outside linebacker.