Cowboys Rumors: Dak Prescott Reworks Contract To Open Salary Cap amid Long-Term Talks

The Dallas Cowboys amended quarterback Dak Prescott's contract to lower his salary cap burden slightly in 2024, according to ESPN's Field Yates.

Yates reported Prescott will now count for $55.5 million against the cap, down from $59.5 million after converting his $5 million roster bonus into a salary bonus.

Considering the new cap figure is still on track to be the second-highest in the league, the two sides could continue to work toward a long-term extension that will further alter his earnings for this season.

NFL Network's Ian Rapoport, Tom Pelissero and Mike Garafolo reported in February that negotiations were expected to begin, "with the Cowboys gaining valuable cap room to operate in free agency if they do a deal."

Chief operating officer Stephen Jones told reporters last week that talks have continued and included "personal discussions" with the three-time Pro Bowler.

Now that the biggest free agents have already signed, Dallas stands to gain a little less by creating more cap room.

There are still some notable names on the board, though, with edge-rusher Chase Young, cornerback Stephon Gilmore, wide receiver Mike Williams and safety Justin Simmons headlining the group. The Cowboys could make some meaningful moves if they were to shave more money from Prescott's 2024 cap hit.

For now, they have $8.5 million to spend when factoring in their new savings. The bulk of that will be allotted to Dallas' incoming draft picks and the undrafted free agents the team signs once the draft concludes.

Even if a new contract for Prescott can't be leveraged into finding reinforcements in the short term, finally sorting out his future would resolve one of the biggest issues for the front office.