The Dallas Cowboys made a dramatic move on Friday that is likely to clear a significant amount of salary cap room. The major concern now is how much money they have available to upgrade the roster when NFL free agency begins on March 11.
The Dallas Cowboys have been among the finest teams in the NFL. Unfortunately, while they have won 12 games each over the last three years, their best play appears to occur primarily during the regular season. That is why Jerry Jones, the team’s owner and general manager, must figure out how to free up additional cap space so they can enhance the roster in free agency.
They were one of the organizations entering the offseason that were way above the salary cap and would need to make significant payroll changes in 2024. That began this week, when NFL Media league source Tom Pelissero claimed that the organization has agreed to restructure the deal of nine-time Pro Bowl player Zack Martin.
The restructured contract will turn some of his money into a signing bonus and free up $13 million in much-needed cap space for the franchise, with free agency beginning next week.
How much cap room do the Dallas Cowboys now have ahead of NFL free agency?
Getting $13 million back for this season is big news for the Cowboys. However, despite that positive development, the team did not net a large amount of money to now throw at potential free-agent targets this month.
While Dallas is no longer above the salary cap, they are estimated to have slightly more than $1 million in free cash after limiting Martin’s contract (via OverTheCap). The new cap for the 2024 NFL season is $242.9 million. The salary cap for this season is expected to exceed $250 million, putting the Cowboys in a terrific position heading into free agency. Okay, not so fast.
The organization also has $14.7 million in dead cap money, putting it close to the reported salary cap maximum for next season. This is why Dak Prescott’s contract extension has become a hot topic for the team this offseason. A new contract for the team’s starting quarterback might be huge help toward freeing up more money this offseason.
The Dallas Cowboys are not expected to make big signings in free agency, but getting back a solid amount of money could prove pivotal in signing a few players who can improve their depth, and it could aid in re-signing free agents like Tony Pollard, Stephon Gilmore, and Tyron Smith when they hit the open market on March 11.
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