Reports: Tony Romo likely to be released Thursday

Reports: Tony Romo likely to be released Thursday

DALLAS, TX (KAUZ) - Tony Romo will likely no longer be a Dallas Cowboys, and it could happen as soon as Thursday.

According to ESPN, sources have told the company that Romo will likely be released tomorrow. Romo has spent 14 seasons with the Cowboys and is the all-time leader in passing yards and touchdowns for the Dallas Cowboys' franchise.

No other details have been released about the possible upcoming release and it is not clear how the Cowboys will handle the remaining money they owe Romo, but they do have a couple options.

According to ESPN, they could designate Romo a June 1 designation which would save the Cowboys $14 million against the cap this year, but he would still count $10.7 million on the 2017 cap and $8.9 million on the 2018 cap. If they release him without the designation, the Cowboys will save $5.1 million against the salary cap but will carry $19.6 million in "dead money" for 2017.

Romo's situation has been the focus of most of the Cowboys' off-season after rookie sensation Dak Prescott arrived and took over when Romo was injured during the 2016 preseason. Prescott won the NFL's Rookie of the Year Award and led the Cowboys to their first 13 win season since 2007 -- Romo's first season as a full-time starter.

Copyright 2017 KAUZ. All Rights Reserved. Information from ESPN.com was used in this story.