ESPN's Adam Schefter confirmed the deal, and reports Dallas will be sending a first round pick back to Oakland for Cooper.
National Football League insider Ian Rapoport was the first to say that the deal was happening.
This is a very headscratching decision from the Dallas Cowboys. Cooper will count around $4.5 million on Dallas' cap and he'll carry a $13 million hit next season. Follow 105.3 The Fan for the latest details.
The Cowboys' trio of offseason additions - Allen Hurns, Deonte Thompson and Tavon Austin - have combined for 32 catches, 391 yards and 3 touchdowns as the receiver snaps have been split relatively evenly these first seven games.
It's not the first time Cowboys owner and general manager Jerry Jones has made a big trade for a former top-10 pick at receiver, and the other two attempts didn't go well.
Dallas' wide receivers have been inconsistent and, overall, far below-average. The Cowboys are (heavily) banking on the idea that Cooper can do just that.
Dallas reportedly gave up a first-round pick. Recently, we'd heard rumors that Amari Cooper, Oakland's star receiver, was on the trade block, although Gruden denied knowing anything about that. He's no Odell Beckham, but he does give the Cowboys a reliable weapon that can hurt the Eagles where they're most vulnerable.
For Gruden, dealing his most accomplished receiver doesn't compare to the preseason trade that sent two-time All-Pro pass rusher Khalil Mack to Chicago.
This seems like a pretty good haul for the Raiders, who have now collected three first rounders this season via trade.
Whether McKenzie is on board with Gruden's overhaul is unknown - the GM on Monday did claim that he does not feel as though he's being pushed out of the way.
And hence Gruden increasing his draft choice total to a more reasonable for rebuilding purposes to nine, including three firsts and a second.