The Dallas Cowboys are in a unique spot with head coach Mike McCarthy, and with his contract set to expire on Jan. 14, the team is running out of time to figure out whether or not they want to keep him in town. All along, it has seemed like team owner Jerry Jones has wanted to find a way to extend McCarthy's contract, and it looks like he's set to take a definitive step towards accomplishing that goal.

For now, the Cowboys have exclusive negotiating rights with McCarthy since he's still under contract with the team, but that would change if there's no deal reached before Jan. 14, which is significant, as teams could show interest in the veteran coach, as indicated by the Chicago Bears requesting to interview McCarthy. Time is of the essence, but the good news is that Dallas is reportedly set to begin negotiating a contract extension with McCarthy on Friday.

“After several days of discussions about the 2024 season and the future, Cowboys owner Jerry Jones and coach Mike McCarthy remain open to moving forward together and the sides are expected to open talks today on a new contract to keep him in Dallas, per sources. There have been no negotiations yet and still are other issues to work through. McCarthy’s contract is set to expire Tuesday, giving Dallas a few more days to work out a deal. Otherwise, McCarthy would be free to pursue other opportunities,” Tom Pelissero shared in a post on X, formerly Twitter.

Cowboys feeling time crunch with Mike McCarthy contract negotiations

Dallas Cowboys head coach Mike McCarthy on the sidelines against the Philadelphia Eagles at Lincoln Financial Field.
Mandatory Credit: Eric Hartline-Imagn Images

Dallas is in a tough spot, because if they don't find a way to extend McCarthy before this deadline, he could end up leaving and joining a new team. That would likely result in several other members of the coaching staff departing, while also forcing the team to begin a head coaching search well after the other six teams in the league that are searching for a new head coach.

The good news is that the Cowboys still have time to figure things out, and it looks like they are going to begin discussing a contract with McCarthy. However, until pen is put to paper, there's reason for fans in Dallas to be a bit worried about their head coach situation, and all eyes will remain on McCarthy and Jones to see if they can hammer out a deal before it's too late.