3 Instant Reactions to Ezekiel Elliott Reportedly Being Released by Cowboys

Ezekiel Elliott's career in Dallas appears to be over.

Clarence Hill Jr. of the Star-Telegram reported the Cowboys are planning to release their longtime running back with a post-June 1 designation, which would save them $10.9 million on their 2023 cap sheet.

Elliott has spent the last seven seasons in Dallas since being taken with the No. 4 overall pick in the 2016 NFL draft out of Ohio State. He's third on the Cowboys' all-time leading rusher list behind Emmitt Smith and Tony Dorsett but has seen his effectiveness wane in recent seasons.

Tony Pollard, who received the franchise tag earlier this month, will take over as the top running back on the depth chart.

Here's a few takeaways from the end of an era in Dallas.

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Zeke's Contract Shows Dangers of 2nd RB Deals

A quick status update on the four largest NFL running back contracts:

1. Ezekiel Elliott (six years, $90 million): made it two years into the actual extension before being released; had one Pro Bowl season after signing the new deal.
2. Alvin Kamara (five years, $75 million): has averaged 3.9 YPC the last two seasons and seen his receiving production plummet since Drew Brees' retirement after the 2020 season. Counts as $16.7 million in dead cap if the Saints move on after next season.
3. Christian McCaffrey (four years, $64.1 million): played a grand total of 16 games over two-and-a-half seasons before being traded by the Panthers midway through the 2022 season. Paid $38.4 million by the Panthers for that 16-game stretch.
4. Dalvin Cook (five years, $63 million): Three straight 1,000-yard seasons since signing an extension in 2020 but is not guaranteed to return to Minnesota in 2023. 

A quick piece of advice for teams considering giving their star running backs a second contract: don't. Literally spend your cap space on anything else. Of the four contracts listed above, only Cook's worked out to a degree for the Vikings—and even they're probably going to get their way out of the backend.

This will never be a pulpit to criticize players getting their money, but second running back contracts that work out for the team are the outlier rather than the rule. Even Derrick Henry, whose four-year, $50 million extension has completely worked out for the Titans, has found his name being bandied about in trade talks this offseason.

Smart teams can use a combination of rookie contracts and the franchise tag to take up the first five or six years of a running back's career—typically their best period of play—without ever seeing a dime of dead cap hit their sheets.

The Cowboys are eating $11.9 million in dead cap (likely split over the next two seasons) because they agreed to a contract they never should have signed.

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Tony Pollard Not a Lock for Instant Fantasy Stardom

Elliott's impending release is going to send Tony Pollard soaring up fantasy draft boards, but we may want to pump the brakes.

Jerry Jones told reporters earlier this month he wants to "replicate" the one-two punch Elliott and Pollard gave the Cowboys when they were both healthy last season. Dallas coach Mike McCarthy also hinted at running the ball more in 2023, blaming philosophical differences as the reason the team moved on from offensive coordinator Kellen Moore.

"I've been where Kellen has been: Kellen wants to light the scoreboard up," McCarthy told reporters at the NFL combine. "But I want to run the damn ball so I can rest my defense."

Following the through line here, all signs point to the Cowboys either signing a running back to pair with Pollard or (more likely) drafting a running back who could also serve as Pollard's long-term replacement. It's unlikely they'll make a splash for Bijan Robinson, but UCLA's Zach Charbonnet could be an interesting Day 2 target for Dallas.

As it stands, Pollard will be in the RB1 conversation simply because of the Cowboys' prolific offense and his production in a limited role. Even a 15 percent increase in touches would make Pollard worthy of a first-round pick.

But anyone expecting him to take over the old three-down role occupied by Elliott during his prime may be disappointed.

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Zeke's Potential Suitors for 2023 are Limited

Elliott's longest carry last season was 27 yards. He hauled in a grand total of 17 passes for 92 yards.

As much as Elliott broke on to the scene as an instant superstar, he has just four 1,000-yard seasons in his NFL career. Considering he has at least 230 rushing attempts in each of his seven NFL seasons, that's not a particularly impressive total.

At this point in his career, Elliott is a plodder who picks up three or four yards at a time and is effective near the goalline. He'll garner some level of interest once his release becomes official, but his name recognition value is exponentially higher than his production at this point.

Miles Sanders is the top remaining running back free agent and will certainly garner more attention than Elliott. Jamaal Williams, Kareem Hunt and Damien Harris all arguably have more left in the tank as well.

Given the fact Elliott is also used to being among the NFL's highest-paid running backs, it will also be an ego check when offers likely come in around the one-year, $5 million range.