Cowboys ‘Cap Hell’? Dallas Plans 6 New Contracts, 1 Big Cut
There really is a salary cap. The Dallas Cowboys, however, may be about to dispel the notion of “Cap Hell” this offseason as they attempt to extend Dak Prescott’s contract while rearranging the money already promised to players like All-Pro guard Zack Martin and outstanding cornerback Trevon Diggs.
The Cowboys are now roughly $20 million “over the cap,” with a $242 million league-wide cap ceiling for 2024. That initially seems concerning. However, teams have until March 13 to begin the NFL business year to become cap-compliant.
And there are clear paths – because there simply must be – to becoming cap-compliant.
That starts with Prescott and his scheduled $59 million cap hit. Depending on the structure of a new deal, Dallas can sign him to a long-term deal that reduces that number by about $20 million – and voila!, Dallas is cap-compliant!
According to ESPN, the Martin and Diggs deals could be redone, resulting in an additional $20 million in cap space with just a “flip of the switch” and the conditions currently included in their contracts.
Another (potentially) simple move would be a new contract for CeeDee Lamb, who is about to begin a contract year with a fully guaranteed $17.991 million. Give Lamb $30 million APY, as if he were the top player in the NFL, so he could play alongside players like Tyreek Hill and Davante Adams? That would really save up $11 million for Dallas by lowering his cap hit.
ESPN mentions a restructure for right tackle Terence Steele; that’s a flip-switch. We’ve discussed cutting receiverMichael Gallup post-June 1 to save almost another $10 million.
The piper will eventually be paid; terms such as “voidable years” are sometimes comparable to using a credit card; the bill is going to be due.
And there are still more significant costs to be paid. Dallas has been losing out on defensive standout Micah Parsons for almost $4 million APY. Now that he has qualified for a contract extension, he will undoubtedly ask to surpass Nick Bosa, Aaron Donald, and TJ Watt as the highest-paid defensive player in NFL history. That translates to an APY of $30 million.
It is the law that the Cowboys will be under the cap in March. They will probably have a competitive roster if Dak signs a new contract.
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