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Dallas Cowboys sign former undrafted free agent Terence Steele to $68 million extension

According to ESPN’s Adam Schefter, the Dallas Cowboys and right tackle Terence Steele have agreed on a new five-year contract extension worth $68 million.

The report says Steele, coming off a significant knee injury that caused him to miss the final four games of the 2022 season, could earn as much as $91.8 million if all the incentives outlined in the contract are met. The deal reportedly includes $50 million guaranteed money for the fourth-year undrafted free agent from Texas Tech.

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The Cowboys have been very active in locking up their talented core, including restructuring the deal of right guard Zack Martin, who held out of camp in a contract squabble. Dallas signed Martin to a reworked deal guaranteeing their starting guard $36 million over the next two seasons. Cowboys owner Jerry Jones also opened the checkbook for star defensive back Trevon Diggs, giving him a five-year, nearly $98 million contract in July.

Safety Malik Hooker also was extended during a busy offseason in Dallas.

The Cowboys do have a few major contract issues on the horizon: linebacker and defensive superstar Micah Parsons is expecting a new deal and to be the NFL’s highest-paid defensive player after the 2023 season, and the team will have to contend with a nearly $60 million cap hit in 2024 from the Dak Prescott contract.

Steele, who has 40 starts in his 45 games as a pro, has recovered from his ACL tear faster than anticipated. Dallas seems to be all in, and the current window for them to make a run in the postseason appears to be this season before tough roster decisions will have to be made based on their future salary cap situation.

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