Dallas Cowboys restructure Dak Prescott’s contract, create salary cap space

The Dallas Cowboys have turned quarterback Dak Prescott’s $5 million roster bonus into a signing bonus, creating $4 million in 2024 salary cap space, a person with knowledge of the procedure told The Dallas Morning News. Prescott was due the $5 million roster bonus Monday.

The Cowboys also added two more voidable years onto the end of Prescott’s contract. The voidable years will go through 2028.

Prescott’s new cap number is $55.455 million, which remains the second-highest in the NFL behind Cleveland’s Deshaun Watson ($63.9 million) and ahead of Arizona’s Kyler Murray ($51.4 million)

Prescott will earn a base salary of $29 million for the 2024 season.

Cowboys officials have said publicly they want to extend Prescott’s contract but didn’t indicate a timetable for when that will occur.

“Dak has been willing to work with us and we’ve had great discussion about him and his contract,” team executive vice president Stephen Jones said last week. “He’s all-in on working with us and we’ve had personal discussions with Dak, as well. Other than that, that’s about all we’ll say about our negotiations with him. We want to keep those private. We don’t want to get into timelines or anything like that, certainly a priority of ours.”

Linebacker Micah Parsons and wide receiver CeeDee Lamb also are seeking new contracts. Lamb is entering the final year of his rookie deal.

The Cowboys have discussed their cap constraints this offseason and have attempted to open it up with several recent decisions. Last week, the Cowboys cut receiver Michael Gallup, creating $9.5 million in cap space. Those savings won’t occur until after June 1.

Find more Cowboys coverage from The Dallas Morning News here.