Proposed Trade Has Cowboys Land Projected $116 Million Star for Micah Parsons

The Dallas Cowboys face a serious dilemma regarding the future of Micah Parsons with the star pass rusher officially requesting a trade amid an ugly standoff with the franchise over his next contract. It remains to be seen if Dallas will be eager to accommodate Parsons, or if the star pass rusher is willing to miss game checks if he is not dealt.

Bleacher Report’s Kristopher Knox put together a list of potential trade proposals the Cowboys could explore for Parsons. One proposed deal has the Cowboys swapping their problem for another team’s contract standoff.

Could the Cowboys and Cincinnati Bengals swap problems? Find out why the Bengals could be a fit for Parsons.

A Proposed NFL Trade Has the Cowboys Swap Micah Parsons for Bengals Pass Rusher Trey Hendrickson

At the center of the proposed trade, the Cowboys land Trey Hendrickson for Parsons. The four-time Pro Bowl pass rusher is also in a contentious standoff with the Cincinnati front office over a new deal.

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In addition to Hendrickson, the Cowboys land a first-round pick (2026), second-round selection (2026) and two future third rounders in the deal. The Bengals get Parsons in return for the package of Hendrickson and picks.

Trading for Trey Hendrickson Could Be a More Affordable Option for the Cowboys Than Paying Micah Parsons

It is worth noting that if Cincinnati is not eager to pay Hendrickson, the front office is unlikely to rush to sign Parsons to a lucrative new deal. Yet, there is a big difference in giving Parsons (26) a lucrative new contract versus paying Hendrickson (30).

“A Hendrickson-for-Parsons swap could be a creative solution for both Cincinnati and Dallas,” Knox wrote in an August 1, 2025, story titled, “Top NFL Trade Packages for Micah Parsons After Cowboys Star Requests Move.” “The Cowboys wouldn’t have to pay Hendrickson as much as Parsons is worth because of age—though, they’d also be looking at fewer seasons with an established sack artist in the lineup. However, Hendrickson would most likely keep producing at a high level through the remainder of Dak Prescott’s prime.

“The Bengals don’t want to commit to a 30-year-old defender long-term on a top-of-the-market deal, but they might feel differently about committing to a 26-year-old perennial Pro Bowler. Spending big to acquire a star and then locking him up isn’t the sort of move the Bengals typically make. If these really aren’t the ‘same old Bengals,’ though, it’s a move they should.”

Cowboys Pass Rusher Micah Parsons’ Next Contract Is Projected to Be a $151 Million Deal

Hendrickson would still likely be more affordable for Dallas than signing Parsons to a new extension. Spotrac projects Hendrickson’s market value is a three-year, $116 million contract. Hendrickson is slated to play on a one-year, $21 million deal in 2025.

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By comparison, Parsons’ market value is a four-year, $151 million deal, per Spotrac. Hendrickson is coming off back-to-back seasons posting 17.5 sacks.

Micah Parsons’ Trade Value Is Similar to the Khalil Mack Deal From 2018: Insider

The early indications are the Cowboys are not willing to budge on trading Parsons. If the Cowboys do have a change of heart, what can Dallas expect to land in a potential deal for Parsons? ESPN’s Adam Schefter estimates that the Chicago Bears trading for Khalil Mack in 2018 is comparable to Parsons’ current value.

“A potential trade comp for Micah Parsons: When 27-year-old Khalil Mack was traded from Oakland to Chicago, the Bears gave up two first-round picks, a third-round pick, and a sixth-round pick for Mack, a second-round pick, and a conditional fifth-round pick,” Schefter explained in an August 1, message on X.