Schefter: New Deal With Tony Romo Completed

Matthew Emmons-US PRESSWIRE

BREAKING NEWS

Todd Archer at ESPN is reporting that a deal is "imminent" for the Dallas Cowboys to sign quarterback Tony Romo to a new contract. On Twitter he clarified what he meant by that.

So stand by. Today, the Cowboys could firm up the course of the franchise for several years and get the cap situation well under control. A new, cap friendly deal could allow the team to sign all of its draft picks next month and shop some more in free agency. This would leave only the possible long term deal with Anthony Spencer to be worked out.

It was reported earlier that the Cowboys would not be able to franchise tag Romo in 2014 because of the way his contract was structured. If this deal goes through, they won't have to worry about it.

[UPDATE] Looks like "imminent" may have been a matter of minutes:

More info from Ed Werder:

Rapoport has a different take on the money:

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