We thought that Leary could get traded sometime before or around the NFL Draft. After all, he was given a Restricted Free Agent tender with a specific trade value of a second-round pick. Though he has degenerative knee issues, Leary has remained healthy thus far and was starter for the Cowboys much-praised offensive line in 2014.
Dallas likely hoped that a trade would happen. They signed veteran interior lineman Joe Looney in March, meaning they were covered if Leary departed. Even if they never expected to get a second-round pick for him, the Cowboys could still have negotiated any trade they wanted for a solid mid-round pick.
Leary's hasn't threatened to holdout but that is often the next step. Dallas would certainly rather get something for Leary than have to release him outright, so perhaps they'll now drop their asking price. Still, any draft compensation for Leary would be decent given that he was originally an undrafted player.