I'd welcome Manziel on a cheap deal. But not to be the starter. We would still need to draft or sign our planned starting QB. Meanwhile, Manziel could be snagged on the cheap and stashed as depth. Let him develop, take our time with him, and see if he can grow and mature behind another QB who is starting. Johnny Football does have some decent talent and, at the NFL level, has barely even had any games to show if he can or cannot make it in this league (granted, the reason he has not been getting chances to play is solely his own fault due to off field exploits). Maybe we get lucky and he straightens out and realizes his full potential after grabbing a second chance etc etc. I'll tell you this much. I'd rather Manziel on a cheap deal as our developmental QB than having to spend a decent pick on a guy.
Not too sure if the plan would work though. Jerry loves him too much, unfortunately. I bet the Cowboys offer him more than anybody else is willing. Other than Dallas, I think it is at least feasible that Manziel might find no team wants to pick him up. If that's the case, I bet he takes a dirt cheap contract and an expected backup role from the Rams - knowing if he straightens out and also plays well, he could be the starter given how sad our QB situation is - over no NFL pay cheque at all.