Cowboys Rumors: DeMarcus Lawrence, Tyron Smith Restructure Contracts, Clear Cap Space

The Dallas Cowboys restructured DeMarcus Lawrence's contract to create $8.9 million in salary-cap space for the 2023 NFL season, according to ESPN's Todd Archer.

Archer noted the Cowboys have opened almost $45 million in cap room by reworking their deals with Lawrence, Dak Prescott, Zack Martin and Michael Gallup.

Tyron Smith will count for less against the cap as well.

In another cost-saving maneuver, Dallas is moving on from three-time Pro Bowler Ezekiel Elliott. Per Adam Schefter of ESPN, the team listed Elliott as a post-June 1 cut, which removes another $10.9 million from its 2023 cap burden.

With less than a week until the free-agent negotiating window opened, the Cowboys were $16.1 million over the cap, per Pro Football Focus. A lot of finessing was required to give them enough flexibility to retain some key contributors and make outside additions.

Dallas hasn't done anything transformative so far. After applying the franchise tag to Tony Pollard, it secured the returns of Leighton Vander Esch and Donovan Wilson. The franchise also acquired Stephon Gilmore from the Indianapolis Colts.

That's not too bad considering how dire the Cowboys' financial outlook was before free agency kicked into gear. It's tough to conclude they've done enough to become a Super Bowl favorite, but they should remain a credible playoff threat.