Cowboys Rumors: Expert Says $62.5 Million Bust on ‘Roster Bubble’

Getty Michael Gallup, Cowboys

There have been a handful of moments in which Cowboys wide receiver Michael Gallup has looked like the player the team hoped he would be when it signed him to a five-year, $62.5 million contract back in 2022. He had 11 catches and 152 yards combined in Weeks 3 and 4 combined, for example, and had two catches for 70 yards and a touchdown in Week 9. But those instances have been few and far between and when it comes to Cowboys rumors around Gallup, most involve ways to get him off the roster.

It’s not going to be easy. Because of the way his contract is structured, the Cowboys can’t save significant money unless they designate him for release after June 1, which means they won’t get any cap savings until it’s nearly summer.

Still, at Spotrac, the site that covers sports contract details, Gallup is listed among the players who are on the “roster bubble” for 2024. His one hope of staying with the Cowboys is another contract restructure, as he got in 2023.

Wrote cap and contract expert Mike Ginnitti: “Gallup signed a low-end WR2 contract in March of 2022 but he’s never returned to full form on the field. With that said, the dead cap structure on this deal means that an early trade/release only opens up $800,000. Will Dallas keeps this deal on the books through June 1 to gain $9.5M for the summer, or is this simply another cap conversion that keeps Gallup in the fold for 2024?”

Michael Gallup Tore His ACL in 2021

Gallup’s best year was back in 2019, his second year in the NFL after the Cowboys picked him in the third round out of Colorado State in 2018. He had 66 catches for 1,107 yards and six touchdowns that year, and it’s that image of Gallup that Dallas has clung to since. He tore his ACL late in the 2021 season and still got the big contract months later.

But he has been beyond disappointing since. Gallup had 39 catches for 424 yards last season in 14 games, and in 15 games this season, he has 34 catches and 418 yards.

Last month, wide receivers coach Robert Prince wondered if the Cowboys were asking too much of Gallup. The implication was that Gallup was not up to the WR2 job anymore.

“You know, unfortunately, sometimes things don’t work out,” Prince said, per SI.com, “but we put MG out on the island out there, and he’s going to get press coverage, and we’re asking him to win those battles.”

2024 Cowboys Rumors Will Focus on Dak Prescott

Of course, all Cowboys rumors in 2024 will be overshadowed by the contract talks with quarterback Dak Prescott. But the team has other holes to fill and questions to answer, including along the offensive line and, obviously, among the wide receivers. Veteran Brandin Cooks is serviceable, but not a No. 2 option. Second-year man Jalen Tolbert has gotten more opportunities, but it’s questionable that he can fill the role, either.

As for Gallup, the Cowboys increasingly look as though they need to do something. Cutting him won’t provide immediate relief, but there may be no other choice.

As columnist Mac Engel wrote in the Star-Telegram, “This is hard to watch. It’s hard to watch because Michael Gallup is a good guy, and you want to see good guys do well. Right now, #13 for the Dallas Cowboys is not doing well. … Of the many moves the Cowboys have made over the last several years, handing Gallup his five-year $62.5 million contract in March of 2022 continues to look worse with every snap of the ball.”