Considerable time has taken place since Micah Parsons and Cowboys owner Jerry Jones agreed in principle on an extension. The edge rush market could very well see further movement before an agreement is finalized in this case, something which would increase the cost of a monster second contract. 
In April, it was reported Dallas was prepared to make Parsons the league’s highest earner for non-quarterbacks. During his most recent comments on the matter – an interview with DLLS’ Clarence Hill Jr. – the two-time All-Pro confirmed his target is to become the highest-paid player outside the QB spot. In terms of AAV, that title currently belongs to Bengals wideout Ja’Marr Chase ($40.25MM per year).
Myles Garrett leads the way in terms of pass rushers. His new Browns pact averages $40MM annually, a bar which could be cleared in the event T.J. Watt secures another Steelers extension. The latter has an offer on the table, the particulars of which are not publicly known. Interestingly, Parsons said in his interview he is aware of Watt’s asking price and noted it is higher than the deal he and Jones previously agreed to.
In the event Watt – who skipped minicamp this week and does not appear to be signing a deal in the immediate future – does ink a third Pittsburgh pact before Parsons, that will have a notable effect. The Cowboys finalizing a contract with the four time Pro Bowler would come at a higher cost if Watt does manage to surpass Garrett’s benchmark. To little surprise, Parsons expressed his surprise during the interview at the fact his extension has still not been finalized given the legwork which was done months ago.
The former Defensive Rookie of the Year has notched at least 12 sacks every year to date despite the fact he missed four games last season. Parsons will be counted on to remain highly productive in 2025, during which he is slated to receive $24.01MM on his fifth-year option. A long-term pact will cost much more, especially given the EDGE market’s upward movement since he first became eligible for an extension last offseason. The Penn State product has already made it clear his deal will be impacted by others signed this offseason.
Parsons originally stated his desire for an extension to be in place before free agency began in mid-March. With that time having come and gone, training camp represents the next target. During the interview, he said would be willing to attend camp even without a deal in hand and thus avoid daily fines. Parsons added, however, that he would not participate in camp in such a scenario (after he did take part in on-field work during minicamp).
The prospect of a hold-in will become a moot point if team and player can finalize an agreement over the coming weeks. Whether or not that takes place will continue to depend in part on other moves amongst some of the league’s top remaining extension-eligible players, though.