The Dallas Cowboys recently made important changes to quarterback Dak Prescott’s contract, as they seek to navigate the intricate streams of NFL financial management. According to Field Yates of ESPN, the Cowboys made a smart choice by converting Prescott’s $5 million roster bonus into a signing bonus.
This decision allowed them to create an extra $4 million in cap space. In addition, they have extended the duration of his contract by including two void years, which will now stretch the agreement until 2028.
However, the timing of this maneuver raises a few questions, regardless of its intention to strengthen financial flexibility. Coming during the second week of free agency, this move comes after several top choices have already secured new teams, leaving the Cowboys with limited options to make essential deals..
According to estimates from Spotrac, Dallas currently holds a modest $8.06 million in cap room, a sum deemed insufficient to make substantial waves in the free-agent market.
Prescott, whose current contract is in its final year, signed a lucrative four-year, $160 million deal. Extending the tenure of the three-time Pro Bowler could yield significant cap relief, potentially saving the franchise $26.23 million. However, while Cowboys officials have expressed intent to pursue an extension, they have yet to outline a definitive timeline, per Calvin Watkins of The Dallas Morning News.
Cowboys Financial Strategy in Free Agency
Reports from Bleacher Report’s Jordan Schultz suggest Prescott seeks a deal eclipsing $60 million annually, aiming to become the league’s highest-paid player. With negotiations ongoing, the Cowboys may reconsider their stance on utilizing void years to mitigate the financial burden, potentially saving $18.53 million in the process.
Amidst these financial machinations, the Cowboys’ activity in free agency remains limited. The recent signing of former Pro Bowl linebacker Eric Kendricks to a one-year deal stands as their sole acquisition thus far. Meanwhile, departures such as Tony Pollard to the Tennessee Titans and offensive tackle Tyron Smith to the New York Jets have further depleted their roster.
Although there remains a possibility to re-sign cornerback Stephon Gilmore, a move crucial for shoring up defensive capabilities, Dallas faces mounting pressure to make impactful roster additions. However, with the prime free-agency window closing and numerous coveted players already off the market, the task grows increasingly daunting.
The Cowboys may have missed out on a valuable opportunity by not restructuring Prescott’s contract sooner. The delay had a major effect on their lack of action during the initial rush of free agency, which hindered their ability to bolster the roster and led to the departure of important personnel.
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