Trade chatter surrounding Micah Parsons has proven to be substantive. Not long after a Thursday report indicated the star edge rusher could be on the move, a blockbuster trade has indeed been worked out. 
The Cowboys have an agreement in place to send Parsons to the Packers, as first reported by NFL Network’s Ian Rapoport, Tom Pelissero and Jane Slater. The package heading back to Dallas includes two first-round picks. Rapoport adds defensive tackle Kenny Clark is also going to the Cowboys as the final part of the trade agreement. The move is now official.
As part of this massive deal, Parsons has worked out a Packers extension. A four-year, $188MM accord has been agreed to, per the NFL Network report (which has since been confirmed by others). The deal contains $136MM in total guarantees. ESPN’s Adam Schefter adds Parsons will receive $120MM fully locked in at signing, including $62MM paid out in 2025. Those figures – along with a $47MM average annual value – easily mark a new high point in compensation for non-quarterbacks.
In recent days, the possibility of a trade has gained steam. Yesterday, it was reported the Packers were among the teams showing interest; as such, it is reasonable Green Bay is where Parsons is now headed. Still, today’s move is a massive development for all involved and marks a departure from standard operating procedure in the Packers’ case. The team has a reputation as a draft-and-develop franchise, and that includes recent first-round investments along the edge in Rashan Gary (2019) and Lukas Van Ness (2024).
Both of those players will remain in place even with Parsons arriving. Green Bay’s defensive front has nevertheless been dealt a blow with Clark heading the other way. The three-time Pro Bowler has spent his entire nine-year career with the Packers, and he will provide the Cowboys with a needed upgrade at the DT spot. Clark, 29, has three years remaining on his contract. The former first-rounder posted a career-high 7.5 sacks in 2023, but that figure fell to one last season. Even without a bounce-back in that department, stable play against the run would be welcomed by the Cowboys.
Dallas has a reputation for dragging high-profile negotiations deep into the offseason. Many observers viewed the Parsons situation as the latest example of that, but relations between the 26-year-old and owner Jerry Jones have taken a turn for the worst this summer. Informal talks between the two produced a handshake agreement during the spring, one Jones maintained a desire to stick to in the process of finalizing an extension. When Parsons went public with his trade request at the start of the month, though, he stated he did not want to be held to the terms mentioned in that conversation. No formal offer is known to have been made by Dallas, and negotiations came to a halt in the wake of Jones’ comments on agent David Mulugheta.
Per Rapoport, this trade was agreed to earlier this week. Negotiations then turned to the matter of an extension, with Mulugheta negotiating this monster accord. The Packers’ financial outlook will be altered considerably with this deal in place, especially since quarterback Jordan Love is attached to one of the league’s most expensive accords. The team’s window to contend for a Super Bowl is obviously viewed as being open given this trade.
Dallas, meanwhile, still has a core headlined by Dak Prescott and CeeDee Lamb. They both signed major extensions of their own last offseason, and Clark joins Osa Odighizuwa (re-upped this spring on a $20MM-per-year deal) as a key figure on defense for 2025 and beyond. The Cowboys are thus not in a position to turn away from contention in the near future, but with one week remaining in the offseason they have moved on from arguably their best player.
The Cowboys lost DeMarcus Lawrence during free agency, so today’s blockbuster means both of their starting edge rush spots will have new occupants. Sam Williams, Dante Fowler, Marshawn Kneeland, James Houston and second-round rookie Donovan Ezeiruaku are in position to handle pass rush duties moving forward. How that group fares will be key in determining the success of the post-Parsons Dallas defense. 
The Packers went 9-8 during Love’s first season as their starting quarterback, and they improved to 11-6 last season. A step toward the NFL’s elite was targeted in their roster moves this offseason, and that process has extended deep into August. Parsons was already on the books for 2025 due to his fifth-year option (the value of which is yet to be finalized). The All-Pro is now under contract through 2029.
“I never wanted this chapter to end, but not everything was in my control,” a statement from Parsons reads in part. “My heart has always been [in Dallas], and it still is. Through it all, I never made any demands. I never asked for anything more than fairness. I only asked that the person I trust to negotiate my contract be part of the process.
“Thank you, Cowboys Nation, for every cheer, every moment, and every ounce of love you showed me. Wearing the star has been the honor of my life.”
As Schefter notes, 29 players drafted since 1970 have been named to the Pro Bowl in each of their first four seasons. Parsons will be the first name on that list to play for a different team in their fifth NFL campaign. Dallas and Green Bay will meet in a Sunday Night Football matchup in Week 4. It goes without saying what the top storyline for that contest will be.
