Conner wanted to get this message across during a time of uncertainty around the NFL, given the ongoing negotiations on a new collective bargaining agreement between the league and the players' union.
"Our main goal and objective for Gerald is to secure a long-term deal," Conner said. "We are strategically preparing for that opportunity, both with Dallas and the free-agent market. We have contingency plans for both scenarios. Gerald fully understands the nature of this side of the business."
Sensabaugh, 27, recently completed his second season with the Cowboys, appearing in all 16 games, 14 of them starts. He finished with 71 tackles, five interceptions, two sacks and 10 passes defensed.
Sensabaugh, who began his NFL career with the Jacksonville Jaguars in 2005, returned to Dallas on a one-year deal last season with the hopes of creating greater leverage in free agency this offseason. But the uncertainty of the labor situation has undermined that strategy.