Let's take a look at the Cowboys' cap situation right now. They have $8.4M in space with a projected $5.3M needed to sign draft picks. So, that's $3.1M in available space, a number so small that I doubt they make any moves without cutting players. They have only a few guys they can cut, that aren't Romo, that would add space, but it's only a million or two here or there and there aren't many.
If the Cowboys cut Romo outright, he saves them only $5.1M on this year's cap. The Cowboys see no cap relief until June 2nd if they designate him a June 1st cut, which opens an additional $8.9M, on top of the $5.1M, by pushing it off into 2018. So, this stalemate isn't likely to be broken without a trade.
Assuming the Cowboys want to make Romo a June 1st cut, it doesn't make any sense for them to do it before that time. This fact needs to weigh heavily in our strategy going forward. Additionally, many of the top level FAs aren't available anymore. There isn't a tackle available that is considered a sure-fire starter. Same goes for safety.
My question is, given the situation the Texans have put themselves in with this Osweiler trade (talking about available cap space), what is your recommended action? Do you wait until June 1st, hope another team doesn't trade a pick to get him, and then try to negotiate a deal with him? Do you trade a draft pick for him in order to secure his acquisition, and also our ability to add FAs before they're all gone? What pick would you be willing to part with? With this knowledge, would you go in a different direction and spend the money on available free agents now?
I'm curious what people's thoughts on our strategy should be given this information.
Personally, I'm not a supporter of adding Romo, but given our recent trade, I wouldn't be opposed to adding him on an one year deal. I would also have preferred to have aggressively added a tackle in FA. Having said that, my strategy right now would start with looking for value in FA at any position of need in which we can also cut players in order to keep as much cap as possible, or at tackle and safety. I don't see those guys at tackle and safety, so it'd probably be at athletic cover style ILB or MAYBE corner. I'd cut our vets at those positions only if the player acquired was better than the vet. My goal would be to improve the team now while also keeping roughly $15M aside (probably more like $18M) available for the addition of Romo. I would not trade for Romo. I'm not paying him ~$25M and leaving myself only $4M or so after draft picks to add to the team. I'm also not losing any more draft picks in this endeavor. I'm assuming we will extend Hopkins as well.
I get that some people would prefer that we had spent some of this money on FAs that have already been signed, but try to ask yourself what you'd do now that they are gone.