Earlier this offseason, I took a look at whether or not the Cowboys could proceed without offering Tony Romo a multi-year extension. It's not that I don't want Romo to be the long-term solution behind center, far from it. My question was whether or not the best ways to improve the team includes giving him an extension. There are other ways to keep Romo aboard; the team could let this season play out and then franchise Romo for 2014 and 2015 if they felt that was the best plan.
I've often said I don't think Dallas has done enough to build around Romo and until they do, cannot walk away from him.
What I was eventually led to is that due to the salary cap implications of this, the final year of Romo's deal, they are going to have to re-sign him. Romo's cap hit for 2013 is somewhere between $16.8 and $17.228 million, depending on which resource you use. That's the ninth-highest value in the entire league, seventh among quarterbacks.
It's widely assumed that due to signing bonus prorates, Dallas could easily chop off around $8 million or so from Romo's '13 cap hit with an extension. The question I have, though, is how much is Romo worth? The easy answer is "However much they are willing to pay him," but we need more.
The truth is, whether we like to admit it or not, there is a bevy of quality signal-callers in the league. Aaron Rodgers, Tom Brady, Drew Brees, Peyton and Eli, Big Ben; all established vets with hardware. Joe Flacco and Matt Ryan have generally been starting for the same time as Romo and are entrenched where they are. Cam Newton, Andrew Luck, Robert Griffin, Russell Wilson, Colin Kaepernick, Andy Dalton; all young guns with perceived high ceilings. That doesn't even bring into play guys like Philip Rivers, Matt Stafford, Matt Schaub or Jay Cutler.
I'm not saying Romo isn't better than some people on that list, I clearly think he is. What I am saying is that you'd be hard pressed to convince the fan-bases of those teams to exchange their guy for Romo. You roll with the one that brought you there and each of those names is just as capable of leading a team to the promise land as Romo is (ok, maybe not Cutler).
In looking up data for another article, I came across a Brian Burke (Advanced NFL Stats) piece from December discussing how much Joe Flacco is worth. Burke, one of the advanced stat world's foremost authorities, had devised a formula that basically equates quarterback salary with two values; EPA and WPA.
How Much Is Cowboys' QB Tony Romo Worth?
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