The Cowboys have restructured Dak Prescott‘s contract, according to ESPN’s Todd Archer, creating $36.6MM of cap space on top of the $20MM created by yesterday’s restructure of CeeDee Lamb‘s deal.
The move converts $45.75 of Prescott’s 2025 salary to a signing bonus that is then prorated across the next five years of the contract. His cap number in 2025 dropped to $53MM with increases of $9.15MM in each of the next four seasons. Prescott’s cap hits in 2026, 2027, and 2028 are now above $70MM, giving him leverage to negotiate another extension in the next two years.
Dallas entered the week above the the 2025 salary cap. By avoiding a franchise tag for Osa Odighizuwa and restructuring the contracts of Lamb and Prescott, the team now has $54.3MM in cap space, the eighth-most in the NFL.
That’s not a final number, as the Cowboys could still make a few moves in the next week. They are expected to place a second-round RFA tender on KaVontae Turpin that will cost $5.35MM, and negotiations are underway with Micah Parsons on an extension that could lower his $24MM cap hit.
All told, Dallas should enter free agency with about $50MM in cap space, but recent comments from owner and general manager Jerry Jones should temper expectations of a spending spree.
“I don’t think aggressive is the right word,” said Jones (via WFAA’s Ed Werder). “I’m not looking at free agency as a place to fill voids.” Jones added that the team is planning to prioritize the draft over free agency, though their creation of cap space suggest that they intend to make some signings.
No team is ever winning with Dak as their QB.
Excellent move along with lambs restructuring.
The chickens will come home to roost from kicking the can down the road.
I truly believe 90% of the people who read PFR would be better GMs than Jerry. Now that I think about it, that number may be way too low…
Kicking the can down the road is the modern NFL though. Eventually (unless you are the Saints) you punt one season and it resets your financial sheet and theoretically starts you off with a good pick in the draft to start the rebuild.
Cowboys are about 2 steps away from a full rebuild. They can only kick the can down the road for so long. Eventually the bill comes due. At that point watch them take the dead cap hits and trade or release players and restart.
They’re setting themselves up for a salary cap disaster in the not to distant future. It’s never a good look/sign when you’re restructuring large deals only signed last off-season. I don’t see how they think they can build a competitive team while paying huge contracts to only 3 positions.
From the looks of it, Jerry is constipated.
Jerry has changed in the last 8-10 years.
There was a time where he would chase every shiny thing like a bass chasing a spinner bait. IE traded firsts round picks for Terry Glenn and Roy Williams, signed Deon away from the 49’ers, etc.
Now he’s a penny pincher and will only give big contracts to those players he drafted. IE Dak, Lamb, Martin, Zeke, etc.
What he needs to be (besides retired) is to just go for it all before he heads off to the ever after.
Didn’t trade a first for Glenn. You were probably thinking of the first rounders they gave up to sign Joey Galloway.
Correct.
Thank you.
“I’m not looking at free agency as a place to fill voids.”
Right! The void Jerry needs to fill is the one between his ears… and free agency can’t help with that :)
The most predictable move of the off-season, however, Dallas never winning with Dak. If the Giants ever find a QB watch out Dallas fans, the division just got more difficult.
“I don’t think aggressive is the right word. … I’m not looking at free agency as a place to fill voids.”
All…out!