Posted by ESPN.com's Matt Mosley
Terrell Owens seemed remarkably calm a couple of weeks ago when Cowboys owner Jerry Jones rewarded Terence Newman and Marion Barber with long-term extensions. Even though he was heading into the final year of his contract, T.O. felt like Jones would eventually take care of him.
And late Monday afternoon, that's exactly what happened. Jones ignored his self-imposed rule about paying big money to aging players and gave the 34-year-old a four-year deal worth $34 million, which was first reported by ESPN's Michael Smith. The $13 million in guaranteed money is obviously the most important aspect of the deal. By comparison, Randy Moss received a three-year, $27 million contract with the Patriots that included $15 in guaranteeed money. But keep in mind that Moss is three years younger than T.O. and is coming off one of the greatest individual seasons in the history of the league.
Common sense suggests you don't make a huge financial commitment to a wide receiver in his mid-30s, but the Cowboys obviously believe that T.O. can remain at an elite level for at least two more seasons.
The Cowboys may eventually pay the price for this contract, but in the short term, it will save them nearly $3 million against the salary cap. The next big contract will go to outside linebacker DeMarcus Ware, but I don't think a deal is imminent. I'm also told that the club hasn't made much progress on a new deal for safety Ken Hamlin, who has the franchise tag.
Jones could have waited to see how T.O. performed in the early part of the regular season like he did with Tony Romo, but he was already convinced. By T.O.'s standards, it has been two years of relative harmony in Dallas. He wanted to finish his career with the Cowboys, and Jones has made that possible.
Honestly, I don't think Jones had any choice but to make this deal. The Cowboys couldn't risk losing him in free agency.
The team is expected to announce the new contract at a news conference Tuesday, and Hashmarks plans to be there.
(Photo: Mike Stone/AP)
