Possible interested teams in Romo appear unwilling to take on the 36-year-old's contract or overpay for a quarterback who has started four games during the past two seasons because of injuries, sources told Schefter.
Sources also told Schefter that the Cowboys are unwilling to trade Romo to a city in which he does not want to play. Teams interested in Romo believe the Cowboys will eventually release the four-time Pro Bowler, and are willing to wait until that happens before pursuing him as a free agent, sources said.
Romo has met twice with Cowboys owner Jerry Jones this offseason, including earlier this week when the quarterback's release looked imminent. Reports out of Houston and Denver have suggested the Texans and Broncos would be interested in Romo -- but only as a free agent, not in a trade.
Multiple sources told Schefter on Friday that Fox Sports also is interested in Romo -- as a television analyst to replace John Lynch, who left in January to become the 49ers' general manager.
The Cowboys' franchise leader in passing yards and touchdown passes, Romo played only one series in the 2016 season, directing Dallas on a second-quarter touchdown drive in the Week 17 finale against the Eagles. He suffered a compression fracture in his back in a preseason game against the Seahawks, pressing Dak Prescott into the starter's role. Prescott played so well with the Cowboys losing only one of their first 12 games that by the time Romo was ready to resume his spot, the coaches opted to stick with the rookie.
At the time, Romo delivered a poignant speech in which he said Prescott had earned the right to be the Cowboys' starter. He also said he had a desire to still play.
ESPN's Todd Archer contributed to this report.