Cowboys Restructure Dak Prescott’s Deal To Free Up Cap Space

The Dallas Cowboys have restructured quarterback Dak Prescott‘s contract to free up an extra $4 million in cap space for the upcoming season. Prescott is yet to land an extension with Dallas, but the restructuring of his deal means that his $5 million roster bonus will turn into a singing bonus of the same amount, while also adding two additional void years to the contract. Instead of the $40 million he was expected to make, Prescott will have a salary of $29 million for the 2024 season.

Prescott was set to have a $59.4 million cap on Dallas this season, but with the restructuring, it will lowered to $54.25 million. The added void years mean that he will be paid a lower amount for the remainder of his current deal. But if Prescott isn’t signed to a team during those void years, he will stay on the Cowboy’s payroll.

If Precott isn’t signed to an extension or to a new team by 2025, $40 million of dead cap would remain for Dallas. The void years of his contract end in 2028, so at the very worst, the Cowboys will be without a total of $14 million in cap space from 2026-2028 if Prescott doesn’t receive an extension or new contract.

Prescott was signed to a four-year $160 million deal by the Cowboys in 2021, and in the 45 games he’s played since the extension he has thrown for 11,825 yards with 96 touchdowns and 34 interceptions. Playing all 17 games last season, the 30-year-old threw for the third most passing yards and the most passing touchdowns in the league by a decent margin. Along with the stats, Prescott helped lead Dallas to a 12-5 record the past three seasons but only won one of their four playoff games in that span.

Prescott is a starting-level quarterback in the league but has gone through some rough patches with the team following multiple injuries and sub-par performances in big games. The team and owner/general manager Jerry Jones in the past have expressed their desire to resign Prescott to another long-term deal, but the restructuring of his current contract means they aren’t getting the original value they expected from a player of his caliber. Prescott has also said he wants to resign with the team, and they’ll have to make a decision soon to save cap space down the road.

The $4 million freed up for Prescott’s contract might not seem like a lot in the NFL, but the money saved by the Cowboys could be crucial. Up next for Dallas is resigning wide receiver CeeDee Lamb and 2021 Defensive Rookie of the Year Micah Parsons, both of whom will be asking for large extensions for a Cowboys’ team that clearly knows they have to move some money around.