It’s not too late for Cowboys to give Terence Steele an extension
The Cowboys front office has a lot on its plate this summer. Not only are Trevon Diggs and CeeDee Lamb looking for new deals but Dak Prescott also requires a contract extension before his cap charge of nearly $60 million hits the books in 2024.
With the big-ticket items dominating the attention, it’s easy to forget about second-tier players like Terence Steele who are also looking for new contracts.
Steele, 25, is a homegrown success story in Dallas. The UDFA from Texas Tech started at the bottom of the food chain in 2020 . All he did in the years since is rise from one of the worst OTs in the league (PFF graded him as 76 of 79), to one of the best young tackles on the planet (graded as 23rd best OT in 2022).
Steele’s 2022 breakout season unfortunately came to a premature end when he suffered an ACL injury on December 11. Expected to be fully recovered in time for training camp, the Cowboys retained their restricted free agent for the 2023 season on a second-round tender.
At a cost of $4,304,000 Steele is one of the better bargains on the roster. Given his age and the value of offensive tackles today, he’d likely command almost three times as much on the open market. And if the Cowboys wait until 2024 to re-sign him, that’s likely what he’ll demand.
But 2023 offers a window of opportunity for Steele and the Cowboys. At the moment, Steele has little-to-no long term security. His tender is only for the upcoming season, he’s coming back from injury, and he may have to compete for a starting position.
Theoretically, Dallas should be able to talk the three-year veteran into a short-term extension that pays him more than the tender amount but less than the open market would offer. A 2-3 year deal would ensure long-term financial security and still allow Steele to hit the market at age 27-28 (in his absolute prime).
This way the Cowboys would lock in one of the best run-blocking tackles in the league for a manageable price (possibly $8-$10 million APY range). Both sides have had discussions about an extension this offseason already but not much has been said publicly regarding demands or expectations. At face value, a short-term deal such as this benefits both sides.
Dallas has a little additional leverage this summer with Tyron Smith floating around as an option. In previous statements, Jerry Jones has said Smith is the expected starter at RT, thus bumping Steele to a swing or an inside role. That’s the last thing Steele wants before unrestricted free agency.
But those were words and oftentimes words today don’t match the reality of tomorrow. Looking at the 2022 season, it’s hard to walk away thinking Smith was a better RT than Steele. Smith hasn’t looked his like his previously-dominant self since mid-2021 and may not be the obvious starter in 2023, like some believe.
It stands to reason, a healthy 25-year-old Steele could win an open battle at RT and the depth chart in September will look much different from the one in July.
If Steele factors into the Cowboys long-term plans, Dallas may want to work out a mutually beneficial deal this summer while they have the leverage.
An offer for Cowboys fans
For the best local Austin news, sports, entertainment and culture coverage, subscribe to the Austin American-Statesman.
