Mike McCarthy's previous contract may have been a bargain for Cowboys

The Dallas Cowboys and head coach Mike McCarthy are running out of time to get a deal done. On Tuesday, January 14, the team's exclusive negotiation period with the coach expires.

At that point, McCarthy would be free to look elsewhere, and why would he want to return to a team that was dragging its feet for the past year?

According to ESPN's Todd Archer, "McCarthy made $8 million per season on the five-year deal he signed in 2020." Sportico's Kurt Badenhausen noted at least 10 head coaches were getting $9 million or more, while the Los Angeles Chargers are paying Jim Harbaugh $16 million.

MORE: Mike McCarthy, Jerry Jones still have a lot of work to do & the clock is ticking

After the season, Jones said he was interested in "incentive plans" for future head coaching contracts, so that could be what he has in mind for McCarthy and what is stalling the conversations.

Mike McCarthy, Dallas Cowboys — Dallas Cowboys head coach Mike McCarthy on the sidelines against the Philadelphia Eagles. | Eric Hartline-Imagn Images

"For instance, I might say, 'Look, I'm going to pay you this much, but then [I won't pay you] any more. And I know you want twice that, but if you get to the playoffs or you win a Super Bowl, I'll give you five times that,'" Jones said after the Cowboys were put out of their misery this season.

It is going to be interesting to see how everything plays out over the next 24 hours, but there is clearly a lot of work to do and very little time to get things done.

So, buckle up, Cowboys Nation. It's going to get interesting.

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