GS. Jerry Jones unexpectedly reveals an “unbelievable” price tag for the Dallas Cowboys’ trade target before the deadline.

DALLAS — With the NFL trade deadline looming just two days away on Tuesday, November 4 at 4:00 p.m. ET, Dallas Cowboys owner and general manager Jerry Jones dropped a bombshell during his weekly radio show on 105.3 The Fan. In a candid moment that caught even the most seasoned reporters off guard, Jones revealed the “unbelievable” asking price attached to one of the Cowboys’ top trade targets: Miami Dolphins pass rusher Jaelan Phillips.

“It’s unbelievable, folks,” Jones said, his voice laced with a mix of frustration and intrigue. “They’re talking about a third-round pick just to start the conversation. For a guy who’s been banged up more than a rental car in a demolition derby? We’ve got to weigh if that’s the steal of the century or if we’re getting hosed. But man, if we pull this off, it could change everything for our D-line.”

The revelation comes amid swirling rumors that the Cowboys, who sit at 5-3 and firmly in the NFC East hunt, are aggressively shopping for defensive reinforcements. Dallas’ pass rush has been middling at best this season, ranking 18th in sacks with just 15 through nine weeks. The unit desperately needs a spark, and Phillips — a 26-year-old former first-round pick (18th overall in 2021) — has emerged as the name on everyone’s lips.

A Target with Pedigree and Perils

Phillips burst onto the scene with the Dolphins as a disruptive force, blending speed, power, and relentless motor into a nightmare for offensive lines. In his breakout 2022 season, he tallied 61 tackles, seven sacks, eight tackles for loss, a forced fumble, and two fumble recoveries — numbers that screamed Pro Bowl potential. But injuries have derailed his trajectory since then. A torn Achilles in 2023 sidelined him for the entire year, and nagging issues have limited him to just six games in 2025.

Despite the setbacks, Phillips remains a tantalizing talent. This season, he’s posted 21 total tackles, two sacks, a fumble recovery, and 3.5 runs stuffed — modest production, but flashes of his elite bend and burst are evident. Against the Atlanta Falcons in Week 7, Phillips nearly sacked quarterback Kirk Cousins on a third-down play, collapsing the pocket with a vicious inside move that forced an errant throw.

At 26, Phillips is entering his prime with three years left on his rookie deal (through 2025, with a team option for 2026). For the Cowboys, who boast a war chest of mid-round picks in the 2026 draft, acquiring him could provide an immediate upgrade opposite Micah Parsons without breaking the bank long-term. But Jones’ comments highlight the gamble: Is the injury history a red flag or a buy-low opportunity?

Dolphins in Disarray: A Seller’s Market?

The timing couldn’t be more ripe for a deal. The Dolphins, mired at 2-7 after a disheartening 28-17 Thursday Night Football loss to the Baltimore Ravens in Week 9, are in full reset mode. General manager Chris Grier was unceremoniously fired following the defeat, ending a tumultuous decade at the helm marked by middling results and off-field drama. With a new regime on the horizon, Miami appears poised for a fire sale, listening to offers on nearly every expendable asset.

League sources, including Dianna Russini of The Athletic, confirm that the Dolphins’ initial ask for Phillips is “at least” a third-round pick. Jones’ on-air quip suggests negotiations have already heated up behind closed doors, with Dallas floating counteroffers that could include a late-round pick swap or a player sweetener. “We’re not afraid to get creative,” Jones added. “If it’s the right fit, we’ll make it happen. America’s Team doesn’t sit on the sidelines.”

Multiple teams have reportedly inquired about Phillips, including the Philadelphia Eagles and New York Giants — intra-division rivals that would make any deal all the more spicy. But the Cowboys’ cap space ($18 million projected for 2025) and draft capital position them as frontrunners.

Risk vs. Reward: Can Phillips Be the Missing Piece?

For a Cowboys defense that’s solid but unspectacular — allowing 22.1 points per game — Phillips represents high-upside upside. Imagine him sharing snaps with Parsons and DeMarcus Lawrence, creating a rotation that keeps everyone fresh down the stretch. His youth aligns perfectly with Dallas’ contention window, and at a pro-rated salary of around $2.5 million for the rest of 2025, the financials are a non-issue.

Critics point to the injury toll: Phillips hasn’t played a full 17-game slate since his rookie year, missing 22 contests over the last three seasons. Yet, proponents argue his tape shows a player who’s ahead of schedule post-injury, with improved leverage and hand usage that could translate to double-digit sacks in a better scheme.

Jones, ever the showman, tempered his surprise with optimism. “Look, we’ve seen unbelievable prices before — remember the Amari Cooper deal? Sometimes you swing big, and it pays off. This deadline’s got that same vibe.”

As the clock ticks toward 4 p.m. ET on Tuesday, all eyes will be on Valley Ranch. Will Jones authorize the third-rounder to land Phillips, or will sticker shock send the Cowboys in another direction? Names like Maxx Crosby (Raiders) and Haason Reddick (Jets) have surfaced as alternatives, but Phillips feels like the perfect puzzle piece — if Dallas can stomach the “unbelievable” cost.

Stay tuned to Cowboys Country for updates. In Jerry’s world, nothing’s off the table until the deadline horn sounds.