Cowboys linebacker-turned-defensive end Anthony Spencer pounced on his $10.6 million franchise tender once it became clear that the free-agent market would be drier than a Mormon martini.
Both sides are interested in a long-term deal, but as Mike Fisher of FOXSportsSouthwest.com explains it, the recent dip in the value of veteran contracts has complicated the conversation.
Typically, the franchise tender becomes the starting point for the multi-year deal. For Spencer, the market realities make a contract premised on $10.6 million in year one an impossibility.
There’s no reason, then, for Spencer to replace one-year, $10.6 million for two years and $15 million or three years and $20 million. Instead, he’s better off pocketing the $10.6 million and becoming an unrestricted free agent, able to land a new deal during the brief slice of time when the money flows.
The franchise tag will be out of the question for the Cowboys in 2014, since using it on Spencer for a third straight year would require them to offer quarterback money.
The Cowboys and Spencer have until July 15 to work out a long-term deal. After that, no new contract can be signed until after the final regular-season game.