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The Dallas Cowboys did the only logical thing on Wednesday, picking up the fifth-year option for three-year veteran running back Ezekiel Elliott. Drafted with the fourth overall pick in the 2016 NFL draft, Elliott’s four-year rookie deal contained the same team option as all other first round players, the ability for the club to lock them in and keep them away from free agency as other players are afforded after four seasons.
In exchange, Elliott will receive $9.1 million for the 2020 season. The Cowboys had until May 3 to invoke the clause, but there was no reason to wait any further unless they were closing in a long-term agreement that would’ve been reached by the deadline.
Elliott is the third top-five player from the 2016 class to have the option picked up, joining the Rams’ Jared Goff and the Chargers Nick Bosa, whose deals were extended on Tuesday.
All top-10 picks are paid equivalent to the Transition Tag for the position they play, the average of the top-ten salaries for the position from the previous year. For running backs, that’s $9.099 million this year.
Dallas invoked the fifth-year salary on Byron Jones in 2018, for the 2019 season. As a non-top-ten pick, his salary was based on the average of the third through 25th players at his position. Even though he played corner in 2018, he was a safety when the option was picked up and he got the lower rate, just under $6.3 million.
Unfortunately for Elliott and all other first-round picks, the team option carries absolutely no guaranteed weight. The team can still decide to cut the player after the fourth season with no penalty if they choose. It steals away the first year of unrestricted free agency for first rounders, that players from the final six rounds of the draft enjoy. Players who have four years of service in the league and are not under contract are unrestricted while players with three years or less are restricted free agents and subject to the tender circuit. This mostly applies to UDFAs and players released from the team they were drafted by.
Elliott isn’t close to either of those. He’s the league’s leading rusher in two of his three seasons and the league leader in yards per game in all three years. His rookie deal paid him just over $24 million from 2016 through 2019.
Front office man Stephen Jones has already said the club knows it will need to pony up to keep Elliott beyond his rookie deal, but whether that is lip service or the organization will truly invest in their star runner remains to be seen.
