Dallas Cowboys quarterback Dak Prescott has agreed to restructure his contract to reduce his salary cap hit, ESPN’s Field Yates reported on Monday.
Dallas Cowboys Restructure Dak Prescott’s Contract
The Cowboys converted a $5M roster bonus due to QB Dak Prescott on Sunday into a signing bonus, creating $4M in salary cap space in 2024.
The move reduces Prescott’s salary cap number to $55.455M, while two extra void years were added to the deal for cap purposes (void years now…
— Field Yates (@FieldYates) March 18, 2024
The Cowboys converted Prescott’s $5 million roster bonus into a signing bonus. This reduces the 2024 cap hit by $4 million to just north of $55 million.
However, the dead cap on Prescott’s 2025 void increases to $40.5 million because the new contract adds to more voidable years in 2027 and 2028.
Prescott’s cap number at the beginning of the offseason was around $60 million, which hampered the team’s ability to sign free agents.
Beyond this accounting move, the Cowboys are continuing attempts to sign QB Dak Prescott to a contract extension, according to sources. https://t.co/HvM1nPrTml
— Ed Werder (@WerderEdESPN) March 18, 2024
Dallas Cowboys Working With Dak Prescott On Extension
The #Cowboys converted Dak Prescott's $5M roster bonus into signing bonus, adding 2 more void years, freeing up $4M of cap space.
Prescott's cap hit drops to $55.4M, but the dead cap on his 2025 void increases to $40.5M.
A long-term extension is still highly expected.…
— Spotrac (@spotrac) March 18, 2024
ESPN’s Ed Werder reported on Monday that the Cowboys are continuing to work with Prescott on a contract extension. Signing Prescott to a long-term extension would open up more cap space to sign free agents this offseason.
Prescott is not the only Cowboys’ star looking to cash in this offseason. Wide receiver CeeDee Lamb and edge Micah Parson are looking for long-term extensions.
Signing Prescott first will make it easier to sign Lamb and Parsons.
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