Trey Hendrickson #91 of the Cincinnati Bengals could still be a Cowboys target in free agency..
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Trey Hendrickson #91 of the Cincinnati Bengals could still be a Cowboys target in free agency..
In the morning, when the Dallas Cowboys and the rest of the NFL were still a few peaceful hours away from the opening of the league’s “legal tampering” period, the team pulled off a trade that seemed to set up the rest of what was a critical day across the league. The Cowboys acquired Rashan Gary from the Packers, for the low price of a 2027 fourth-round pick–a deal that drew some criticism to The Star, because it appeared the Packers were ready to release Gary outright.
But the Cowboys got a quality veteran pass-rusher in the bargain, and seemed to be set up to add some other impact pieces–safety, linebacker–along the way. And there would almost certainly be another edge in the mix. Gary is a very good run-stopping defensive end, but not a pure quarterback-chaser, and the Cowboys need that type of defender.
With a promise from owner Jerry Jones to spend as much as it would take to return the Cowboys to the ranks of NFL contenders, the Cowboys appeared primed to be a factor in the edge-rusher market.
Cowboys Dodged Trey Hendrickson, Pass Rush Market
But they weren’t. Far from it. The Cowboys added safety Jalen Thompson on Monday, but were unable to reel in any big fish on the other markets they were involved with–they missed out on linebackers, but they were never a major player in the race for pash-rushers.
They are unlikely to pony up for the cost of Bengals star Trey Hendrickson, and while they dallied, the rest of the top edge rushers came off the board–at astronomical prices.
Forth Worth Star-Telegram Cowboys beat reporter Nick Harris made clear after the Gary trade that Dallas was not done adding edges. But by Monday evening, Harris had walked that sentiment back.
Wrote Harris on Twitter/X: “Circling back here. Don’t think anyone expected the EDGE market to explode how it did today. Not expecting Dallas to be major players for Trey Hendrickson at this point in time. A lot of others are off the board. Might be time to hunt in tier 2/3 for depth pieces and draft one.”
Jaelan Phillips Jonathan Greenard
Getty Jaelan Phillips, rumored Cowboys target.
Cowboys Were Not Going to Match Top Edge-Rusher Money
Indeed, the market coughed up money the Cowboys were never going to spend, and a lot more than was expected.
The Panthers gave oft-injured Jaelan Phillips, a rumored Cowboys target, $120 million over four years. Pro Football Focus had projected him at one year, $15 million, and Spotrac had him at three years, $52 million.
Odafe Oweh got $100 million over four years from the Commanders–Spotrac projected him at three years, $58 million, and PFF had him at four years, $77 million. Boye Mafe got three years and $60 million from the Bengals, after Spotrac projected him at three years, $37 million, and PFF had him at three years, $39 million.
Coming Back Around on Trey Hendrickson?
It will be interesting to see what all this does for Hendrickson’s market. Teams were reluctant to sign him because his contract demands were too hefty for a 31-year-old coming off a core injury. The booming edge-rusher market could be taken in very different ways for Hendrickson.
For one thing, it could be a plus, because he is deserving of the same kind of AAV as a player like Phillips or Oweh. The numbers those players got should strengthen his hands.
But the fact that much of Day 1 of free agency passed without Hendrickson being signed could, in fact, torpedo his value. It’s supply and demand–teams have filled their pass-rusher needs already, and don’t need to stretch to add Hendrickson.
The Cowboys always have Jadeveon Clowney in their back pockets after he starred for Dallas last fall.
If Hendrickson gets anxious enough, it’s possible still that the Cowboys could come back around on him and get a better bargain contract.