The Dallas Cowboys have signed two players to deals throughout the first six days of NFL Free Agency. They have disappointed many by their lack of activity during this time.
The Dallas Cowboys have signed two players to deals so far in free agency. One is inside linebacker Eric Kendricks, formerly of the Minnesota Vikings. The other, their long snapper Trent Seig, re-signed with the Cowboys.
The big news from this free agency isn’t just the lack of moves made; it is the amount of cap space available to try and make moves. According to Spotrack.com, an updated list shows that the Cowboys ranked 32nd in available cap space at $4.06 million. They are still over the cap by $2.4 million.
Why are the Dallas Cowboys over the cap?
Some of the numbers are slightly skewed due to the Cowboys’ post-June 1st cuts. Michael Gallup will be released at that point, freeing up $9.5 million. Leighton Vander Esch will also be released after a failed physical, giving Dallas another $2 million in cap.
The Cowboys’ biggest issue is quarterback Dak Prescott. He counts nearly $60 million against the cap, which is 23.5% of the cap dedicated to one player.
The Cowboys have a financial decision with Dak very soon. If they were to cut him, which is unlikely, that would count for $61 million in dead cap in 2024 and $36 million in 2025. That would be the highest amount ever. Russell Wilson recently set that record after his release from the Denver Broncos.
They could trade him, but not many are ready or willing to take on that cap number for one player.
The only sensible decision is to renew, extend, and/or restructure Dak Prescott’s current contract. The problem may lie in whether or not owner Jerry Jones wants to do that.
Dallas Cowboys Chances with Dak Prescott
Sports Illustrated recently wrote (February 2024) about some options for Dak and his contract. One option was to push Prescott’s contract down the line.
“Most Cowboys contracts include “automatic conversions,” what we call “flipping a switch” that “converts base salary to bonus” … and pushes money into future years. What would that accomplish? It would keep Dak here with a new (and more palatable) cap hit of $41 million. It would give Dallas the needed $18.5 million in cap space to roster-build.”
This type of move would require commitment from both sides. Dak Prescott would have to be willing to accept such an offer, which would push his contract numbers down the line. So, it would still be a problem, but a future problem instead of a current one.
Dak Prescott is 2-5 in the playoffs. His most recent loss was an upset to the Green Bay Packers in Dallas. The thought of maneuvering Dak’s contract down the line and committing to him longer than 2025 (his current standing) is up to Jerry Jones and head coach Mike McCarthy to decide.
Read More: Dallas Cowboys Owner Jerry Jones Will Have His Story Told
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