"The Cowboys restructured Dak Prescott and Tyler Smith's contracts Wednesday, ESPN's Field Yates and Adam Schefter tweet. These moves will create $47MM in cap space, bringing Dallas within $10MM of the 2026 cap. The team also restructured CeeDee Lamb's deal to clear more room, per ESPN.com's Todd Archer. Other possible conversions are available as well. The Lamb move, expected to clear $19MM more in space, slides the Cowboys under the cap."
"Prescott, 32, is tied to the NFL's richest contract - a four-year, $240MM extension agreed to hours before Week 1 of the 2024 season. This move will reduce the 11th-year quarterback's $50.52MM 2026 cap number while inflating future numbers on the through-2028 contract. Before this restructure, Prescott was already due to count more than $74MM against Dallas' 2027 cap."
"The Cowboys backed themselves into a corner with Prescott based on previous restructures. His no-tag clause and the void year-driven penalties that would have come in 2025 absent an extension armed the upper-crust QB with extraordinary leverage. He used it to score the $60MM-per-year extension - which still hovers well above the QB market 18 months later."
The Dallas Cowboys faced the NFL's worst cap situation, entering the offseason more than $56MM over the $301.2MM salary ceiling. To address this crisis, the team restructured contracts for quarterback Dak Prescott, offensive lineman Tyler Smith, and wide receiver CeeDee Lamb on Wednesday. These moves generated approximately $47MM in cap space, bringing Dallas within $10MM of the 2026 cap limit. The Lamb restructure alone cleared an additional $19MM, pushing the team under the cap. The Cowboys also used a $28.29MM franchise tag on George Pickens, further straining their cap situation but securing him for their 2026 plans. Additional contract adjustments remain available to manage future cap obligations.
Read at Pro Football Rumors
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