Report: Dak Prescott Restructures Contract, Gives Cowboys $36.6M in Salary Cap Space

The Dallas Cowboys have restructured quarterback Dak Prescott's contract, opening up $36.6 million in cap space, per ESPN's Todd Archer on Wednesday.

One day earlier, Dallas restructured wide receiver CeeDee Lamb's contract, creating $20 million in cap space, per Archer.

Last offseason, the Cowboys signed Prescott to a four-year, $240 million contract extension, including an $80 million signing bonus.

Per Over the Cap, Dallas now has the eighth-most cap space in the league at $54.3 million. Over the Cap also offered the specifics on the Prescott move.

"The Cowboys converted $45.75 million of Prescott's salary in 2025 to a signing bonus," Over the Cap noted. "The move lowered his cap number by $36.6 million in 2025 and increased his cap number by $9.15 million in each of the next four seasons."

The Prescott and Lamb moves are good for the Cowboys' 2025 cap health, but it doesn't look as if owner Jerry Jones is looking to make big free agency moves.

NFL reporter Ed Werder relayed these comments from Jones on Wednesday.

Dallas has been doing work on the defensive side of the ball, though, re-signing defensive tackle Osa Odighizuwa on a four-year contract extension worth as much as $80 million ($52 million guaranteed).

Per Calvin Watkins of the Dallas Morning News, the Cowboys are also in the early stages of contract talks with linebacker Micah Parsons, who is on the final year of his rookie deal.

We'll see how Dallas enters free agency soon enough after restructures, as teams can begin negotiating with agents on Monday.