While it might not represent a big splash in terms of NFL contracts, when the Dallas Cowboys signed Arizona Cardinals safety Jalen Thompson to a 3-year, $33 million free-agent deal on March 9, it represented something of a sea change for the franchise.
That’s because the Cowboys just don’t spend money like that in free agency.
Before the 2026 free agency cycle started, Bleacher Report’s Adam Wells pointed out a pretty incredible statistic about the Cowboys and how they spend money in the offseason.
“One primary issue with looking at free agency is (Cowboys owner) Jerry Jones has been reluctant to really dive into that pool,” Wells wrote in January. “He hasn’t signed an external free agent to a contract worth more than $6 million since Gerald McCoy’s three-year, $18 million deal in March 2020. If the Cowboys are going to significantly address their defense, it will likely come through either the draft or a potential trade.”
Not so fast, my friends. The Cowboys flipped the script with Thompson and are earning some high praise in return, with Pro Football Focus singling out the deal as one of their favorite NFL free-agent signings.
“Thompson was among the most consistent and most underrated safeties in the NFL while playing alongside Budda Baker in Arizona,” PFF’s Zoltan Buday wrote. “The Washington State product has earned a PFF overall grade between 68.0 and 72.0 in five of his past six seasons. His 69.2 PFF coverage grade this past season ranked 26th among 93 safeties. Plus, he will be only 28 years old when the 2026 campaign kicks off.”
From Pac-12 Star to Massive Payday With Cowboys
Thompson, 5-foot-11 and 190 pounds, was the only player selected in the 2019 NFL supplemental draft, with the Cardinals giving up a 5th-round pick for his rights after he earned All-Pac-12 honors in 2017 but wasn’t allowed to play in 2018 after he tested positive for a banned over-the-counter supplement.
For the Cardinals, it turned out to be a pretty stout investment. Thompson started 13 games over his first two seasons and became a full-time starter for Arizona in 2021 — a job he never gave up.
He’s also cashed in with some pretty significant paychecks, racking up approximately $44.2 million in career earnings through the end of the 2025 season.
“The Cowboys made their first splash free-agent agreement since adding cornerback Brandon Carr on a five-year, $50 million deal in 2012,” ESPN’s Todd Archer wrote after Thompson signed with Dallas. “Thompson fills a major need in the secondary for the Cowboys. He has been a full-time starter the past five seasons with Arizona and has nine career interceptions. He can fill multiple roles for new coordinator Christian Parker and has familiarity on the coaching staff with new corners coach Ryan Smith.”
Cowboys Could Draft 2 Defenders in 1st Round
Thompson could prove to be invaluable in helping mentor a pair of first-round picks for the Cowboys, who own the No. 12 and No. 20 spots in the 2026 NFL Draft.
The general consensus is that if the Cowboys don’t trade one of those picks, they’ll both be used on defensive players.
“The Cowboys need a communicator in the secondary, and Thompson can make sure everybody is on the same page,” Archer wrote. “He is young — turning 28 in July — but has the experience to help a secondary grow.”
