The Dallas Cowboys extended right tackle Terence Steele on Sunday, and the contract makes Denver Broncos RT Mike McGlinchey's look like a total steal. I guess you could say that McGlinchey's contract looks like a "steele" now. The Dallas Cowboys decided to overpay for their own RT, and that should soften the blow a bit for McGlinchey's pact, which many have said was an overpay by Denver at the time.
On Sunday, the Cowboys signed their own RT to a five-year, $86.8 million deal that can be worth as much as $91.8 million:
Cowboys and RT Terence Steele reached agreement on a five-year, $86.8 million contract extension that includes $50 million guaranteed, per sources. Deal has a max upside of up to $91.8 million. The contract was negotiated and confirmed by @ErikBurkhardt of @RocNationSports. pic.twitter.com/ifnAGbceSh
— Adam Schefter (@AdamSchefter) September 3, 2023
Steele, 26, was undrafted out of Texas Tech in 2020 and earned the starting RT spot for the Cowboys in 2020. He played in 16 games that year, starting 14 of them. He played both left and right tackle in 2021, starting 13 games and playing in 16. In 2022, Steele started all 13 games he appeared in but tore his ACL and MCL last December, ending his 2022 season.
Now, entering his fourth year in the NFL, the recovering Steele somehow lands a massive contract, very similar to Mike McGlinchey's, who is simply a better player than Steele. The Dallas Cowboys seem to be betting more on the future development of Steele than anything else. For reference, McGlinchey signed a five-year, $87.5 million deal with the Denver Broncos in free agency.
Terence Steele is getting $17.36 million per year while McGlinchey gets $17.5 million. McGlinchey is also coming off a season where he played and started in all 17 games, so he's in a better spot health wise than Steele is. Furthermore, I think ESPN.com's run and pass blocking statistics are a really nice barometer for OL across the NFL. Mike McGlinchey came in as the fifth-best run blocker among all tackles in the NFL in 2022.
Well, Steele was not ranked in the top 10 in either pass blocking or run blocking, according to ESPN.com. It does seem to be a bit of a puzzling overpay for the Dallas Cowboys, especially since Steele is coming off a torn up knee. Honestly, this new contract does make McGlinchey's a bit more digestible now than when the RT first signed in free agency.
And fortunately, the Denver Broncos appear to be prioritizing the run on offense, which should maximize what Mike McGlinchey does well. Ideally, we aren't talking about McGlinchey's contract at all and are instead relieved that the team finally has stability at the position.