The Cowboys are expected to release Tony Romo when the new league year starts at 4pm today.
Cowboys are releasing Tony Romo on Thursday, sources tell @toddarcher and me.— Adam Schefter (@AdamSchefter) March 8, 2017
Let the Romo recruiting in Houston and Denver begin.
Apparently, this is news to the Cowboys.
Heard from a #Cowboys source on Tony Romo: “Was never being waived.” … Sounds like this may take a while.— Ian Rapoport (@RapSheet) March 9, 2017
So if they’re not going to cut him, then a trade is the only option right?
Cowboys now expect to trade Tony Romo to Broncos or Texans, sources say. Broncos talking with Jets about Trevor Siemian.— Chris Mortensen (@mortreport) March 9, 2017
If there are Tony Romo trade talks happening, few in either of the two buildings discussed know about it. Cowboys keeping options open.— Ian Rapoport (@RapSheet) March 9, 2017
Now getting some backpedal on Siemian/Jets/Bromcos talk. But Romo as a trade rather than release is still alive.— Chris Mortensen (@mortreport) March 9, 2017
So the Cowboys are cutting Romo, except that they were never going to, because they were going to trade him and are talking trades with teams, even though the Cowboys haven’t spoken to anyone about a trade.
If outright released or traded, the Cowboys will take a dead cap hit of $19.6 million and save $5.1 million against the cap in 2017. If they release him with a June 1st designation, they would take a $10.7 million dead cap hit in 2017 and save $14 million against the 2017 cap, but wouldn’t see that money until June 2nd, and then take an $8.9 million dead cap hit in 2018.