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What's going on with the Cowboys and Tony Romo?

Tony Romo said goodbye to his teammates and fans on Instagram on Thursday, but now it's Sunday and the veteran quarterback is still a member of the Cowboys.

So what's happening down in Dallas?

After telling Romo he would be released, Cowboys owner Jerry Jones appears to have pulled back on the deal, still hoping to secure a draft pick for the 36-year-old quarterback.

According to Dallas Morning News reporter David Moore, Romo appears to be in a holding pattern with the Cowboys, with one source saying it would be "optimistic" to suggest the quarterback would end up with another team in the next week. Pro Football Talk's Mike Florio referred to the tension brewing between Romo and the team as a "cold war."

Both the Denver Broncos and Houston Texans (who just traded quarterback Brock Osweiler to the Browns) have signaled they'd likely be interested in signing Romo if and when he hits the free-agent market, but according to multiple reports, neither team is willing to part with draft picks for him.

Dallas Morning News columnist and former ESPN Dallas radio host Matt Mosley thinks Jones might be unwilling to release Romo to prevent him from signing with the Texans, noting that the thought of Romo playing for another team in Texas likely "really bothers Jerry"

Enter FOX Sports.

According to an ESPN report, FOX would like Romo to replace John Lynch as an on-air NFL analyst. Lynch, a former safety who played in the league for 15 seasons, left the booth last month to become general manager of the San Francisco 49ers.

If Romo were interested in the job, he could be in competition with former Eagles coach Chip Kelly, who reportedly interviewed with FOX last month for the network's open analyst position.

FOX Sports did not immediately respond to a request for comment.

FOX isn't the only network hoping Romo hangs up his cleats. ESPN NFL insider Adam Schefter reports other networks are also interested in acquiring Romo as an on-air personality.

"The NFL TV producers I've spoken with really love Romo's potential," Sports Illustrated's Richard Deitsch said on Twitter, adding they say "he's smart, open, prepared, [and] helpful in TV production meetings."

Despite his desire to play, retirement isn't an unlikely option for Romo. Not only will he turn 37 next month, the Cowboys' franchise leader in passing yards and touchdown passes also has dealt with a slew of injuries over the past two seasons.

Jones will need to make a decision about Romo before the start of the Cowboys' offseason program next month. As Florio notes, the team would be responsible for Romo's full $14 million salary next season if he injures himself during workouts.