The first sign that the Cowboys would release Tony Romo before the start of free agency-news that broke Wednesday afternoon-came on a weekend in mid-December. For his career, he has a QB-rating of 97.1 and finishes with the most yards and passing touchdowns in Cowboys' franchise history.
The Denver Broncos and Houston Texans are considered the frontrunners to sign Romo. As their roster now stands, the Texans only have a little over $18.6 million worth of cap space for the 2017 season, so they'll definitely have to gut their roster in order to accommodate Romo's contract demands. Releasing Romo would give the Cowboys $5.1 million in cap relief for the 2017 free agency period.
No other details have been released about the possible upcoming release and it is not clear how the Cowboys will handle the remaining money they owe Romo, but they do have a couple options. Rookie 4th round pick Dak Prescott took over, and the team put Romo in the rear view ever since. Kyle Shanahan might intrigue him, but with quite a few question marks, I have to think Romo would rather go to a team closer to a Super Bowl. Thursday is the first day the Cowboys can designate Romo as a June 1 cut. But this visual of Romo seated to Jones's right, much like a family member would be, showed the Cowboys would do right by Romo.
Where is the best fit for the longtime Cowboys quarterback?
In principle, if an National Football League player is cut before the end of his contract, the entire unamortized signing bonus money (the remaining prorated bonus money) accelerates immediately and counts against the current year's cap as "dead money".
Now the market gets a little smaller for those teams in need.