Romo agrees to extension for 6 year, $108 million

It's been the biggest storyline of the offseason and according to multiple reports and sources, the end is seemingly near.

Nothing is official yet, but the Cowboys have agreed to terms with Tony Romo on a six-year contract extension worth $108 million, including about $55 million guaranteed.

The contract pays Romo more than $17 million per season, putting him just outside the top five among highest-paid quarterbacks in the league. Recently, Super Bowl MVP Joe Flacco received just $52 million in guaranteed cash.

Despite not signing Romo earlier, the Cowboys have been able to get under the salary cap, shaving off more than $35 million in cap space to do things such as sign Anthony Spencer to a franchise tag, and sign a pair of veteran free agents this week.

Romo was scheduled to count 16.8 million on the salary cap and any deal worked out will lower his cap charge for 2013, freeing up some cash to potentially sign other free agents. So far, the Cowboys have re-signed L.P. Ladouceur and Ernie Sims, as well as veterans Will Allen and Justin Durant. But this type of room should allow the Cowboys to be players with most available free agents still on the market.

Romo had one year remaining on his contract that expires after the 2013 season, when he was expected to earn $11.5 million. He signed this contract back in 2007 but has re-negotiated and re-structured the deal twice to help the Cowboys with cap space over the years.

Last year, Romo threw a career-high 648 passes, but his quarterback rating of 90.5 was the lowest of his career.

While the Cowboys and Romo could agree to a contract as early as Friday, an official announcement or press conference could occur next week. Cowboys Stadium is currently hosting the NCAA Tournament with the South Regional taking place at the stadium until Sunday.



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