Mitchell Leff/Getty ImagesThe Dallas Cowboys will use their franchise tag on the tight end ahead of Tuesday's 4 p.m. Ian Rapoport of the NFL Network reported the deadline.
The Cowboys can still negotiate a long-term extension with Schultz, but this move ensures he won't be able to test the market.
The franchise tag value for tight ends is $10.9 million.
Dallas is in a potential cap crunch, though it could free up money. The team is over the cap.
The Cowboys will try to find a trade partner for Cooper before his $20 million salary becomes fully guaranteed on March 20.
It would clear $16 million in cap space if Cooper moved on. According to a report by CBS Sports, Dallas is expected to restructure the contract of its quarterback.
In his fourth year in Dallas, he broke out with 78 catches for 800 yards and eight touchdown.
The former Cardinal, who Dallas selected in the fourth round of the 2018 draft, got his chance to be the Cowboys'TE1 after the injury of Jarwin in Week 1 of the 2020 season.
Heading into the 2021 campaign, Schultz remained atop the tight end depth chart after posting 63 catches for 615 yards and four scores.
In his first two seasons, the 25-year-old didn't see much action, catching just 13 passes for 122 yards, as he worked behind the likes of Jarwin.
He had a career performance during his contract season, but he took advantage of his opportunities. He had seven catches for 89 yards in the Cowboys loss to the 49ers.
Dallas will be happy to have him back, with the hope that he continues his upward trend and remains one of the more productive pass-catching tight ends in football.
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