Rumors have been swirling on Twitter and the internet in recent weeks that a video showing Dallas Cowboys wide receiver Dez Bryant doing something much worse than Ray Rice would be released at any time.

While the supposed video has yet to surface, ESPN NFL Insider Adam Schefter appeared on the Carmen and Jurko Show on ESPN 100 in Chicago on Monday, and reported that the rumored video exists.

"I've been working on this since September," Schefter said. "It's taken up a lot of my time this season, I'll say that.

"Well, listen, whatever we've been working on is not ready and maybe it never will be. Who knows? You've got to be very careful on these things. People can talk about videos, they can talk about this, they can talk about that. The fact of the matter is, it doesn't mean anything and it's really not fair to him right now until you have all your facts in line. Which we spent a long time trying to do."

The video was first mentioned by the sports gossip site Terez Owens, which reported Tuesday that the video's release was imminent and that the Cowboys had been made aware.

From Terez Owens:

Bryant responded with a tweet:

Schefter did not offer further comment on the video or its contents.

The implications could be serious for Bryant, depending on what the video shows and whether it is eventually released. And with that possible threat looming, the Cowboys have a major decision to make between now and March 10 when Bryant is due to be a free agent and likely will set the market for receivers such as Jeremy Maclin if Dallas signs Bryant to a long-term deal.

The Cowboys could use the franchise tag to retain Bryant's rights for one year — at an estimated $12.71 million — if they fail to reach agreement on a contract.

Schefter said during his radio appearance that he expects Bryant to be back in Dallas in 2015.

The interview with Schefter focused on Bryant begins at the 46-minute mark.

Matt Lombardo may be reached at MDLombardo@yahoo.com. Follow him on Twitter @MattLombardo975. Find NJ.com Philadelphia Sports on Facebook