The Micah Parsons Trade
How well did things work out for the Cowboys and Packers in the deal for the elite pass rusher?
As NFL teams finalized their 53-man rosters and practice squads, two pass rushers who were seeking new deals made headlines — one because he was involved in a blockbuster trade.
The Dallas Cowboys sent edge rusher Micah Parsons to the Green Bay Packers, receiving two first-round picks (2026 and 2027) and defensive lineman Kenny Clark. This trade happened after contract talks between Parsons and the Cowboys stalled.
There were those who didn't believe Parsons would be traded, pointing to Myles Garrett, who was known to have requested a trade from the Browns earlier this year, only to get an extension that gave him the highest APY salary for edge rushers at the time. To those people, the trade came as a surprise.
Then came the extension the Packers gave to Parsons — they signed him to a four-year, $186M contract with $120M fully guaranteed. The contract re-set the edge rusher market in every category.
The Cowboys were justified to get two firsts as part of the trade. The question is whether it was good for the Cowboys to get Clark instead of getting additional draft capital.
When the Raiders traded Khalil Mack to the Bears back in 2018, the Raiders received two firsts (2019 and 2020), a third (2020) and a sixth (2019), while sending to the Bears a second (2020) and a conditional fifth (2020). The second and third were the Raiders and Bears swapping draft positions, meaning the sixth was the only guaranteed additional pick the Raiders got.
Therefore, had the Cowboys received additional draft capital instead of a player, it’s not likely they get as much as some may think. One could argue that the Cowboys could have gotten more had they traded Parsons before the 2025 NFL Draft.
But while I still have my issues with how the Cowboys allowed contract talks with Parsons to drag out for so long, I did say that, in a trade for Parsons, the Cowboys would be in position to get a draft haul similar to what the Raiders got for Khalil Mack. They got the two firsts, which is what should have been expected, but if they had received additional draft picks instead of a player, they probably don’t get that much more in terms of draft capital.
I don't mind the Cowboys getting Clark — and it's worth noting the Packers already paid a considerable sum to Clark during the offseason. And while it's expecting a bit much to say Clark needs to replace Parsons' production, the question is whether or not Clark will contribute something to the pass rush.
The other question for the Cowboys is how well they utilize those picks. For the Raiders, they got running back Josh Jacobs with the 2019 first and cornerback Damon Arnette with the 2020 first. Jacobs played well for the Raiders in his five years with the team but is now with the Packers, while Arnette failed to make an impact and was released in 2021 because of off-field issues.
For the Cowboys, they need to turn their draft capital into long-term contributors. Some will point to the Packers likely making the playoffs and, thus, the draft capital coming late in the first round. While I've poked fun at Jerry Jones over his comments about the draft picks potentially becoming Pro Bowl players, the Cowboys at least need long-term contributors here. If they get a player who winds up in the same situation as Parsons and a player who becomes a draft bust, then it's not a win for the Cowboys.
Of course, that doesn't mean the Packers win if things go south for the Cowboys. The Packers made an "all-in" move to acquire Parsons and made him the highest-paid defensive player in the NFL. For the Packers, they need to win a Super Bowl in the near future for this trade to pay off.
A key difference between the Bears and the Packers at the time they traded for elite edge rushers was the Bears had their quarterback on an inexpensive draft pick contract. While things didn't work out in the long term with Mitchell Trubisky, the Bears at least had the right idea in acquiring the superstar player at another position while they had their quarterback on a cheap contract.
The Packers don't have that luxury. Jordan Love signed a four-year extension for $220M last season and he will carry significant cap charges for the next three seasons ($36.2M in 2026, $44M in 2027, $75.7M in 2028). Though the Packers could get out of the deal in 2028, they will have to watch their cap situation, between Love's deal and the deal they just gave Parsons.
While the Packers have shown they can make the playoffs with Love at quarterback, can they get to the Super Bowl? Time will tell but that's the expectation that should be in place with this trade going down.
As for the Parsons contract, I'll let you read what Jason Fitzgerald at Over the Cap had to say but the deal is a good one for Parsons, to the point that there's no practical way to get out of the deal until 2029, assuming the Packers exercise the option bonuses in the contract.
Again, though, this was a trade and contract that signal the Packers believe this will put the team past being simply a playoff contender, to a team that is in position to win a Super Bowl. If the Packers fail to reach that expectation, it will take a lot of work to not only recover from a draft capital standpoint, but from a salary cap standpoint.
Note to Substack readers
I had planned to roll out my NFL predictions this week but wanted to look at the Parsons trade first. I will get my NFL predictions out tomorrow, along with some brief thoughts about the Bengals renegotiated deal with Trey Hendrickson.
Also, expect the final chapter of the Arrowverse Elseworld out this week.