Dak Prescott still has two seasons remaining on his four-year, $160 million contract, but the Dallas Cowboys still face a decision this offseason about potentially tweaking his deal. According to Spotrac, the Cowboys are projected to be $9.6 million over the cap this offseason.
Restructuring Prescott’s deal is one of the main ways the Cowboys can create additional cap space. According to ESPN’s Todd Archer, reworking Prescott’s contract could open up as much as $22 million in cap space for Dallas. To be clear, despite some Cowboys fans frustration with Prescott’s interceptions, a restructure does not mean the quarterback will take a pay cut, it is just a way for Dallas to spread out the star’s cap hit.
“The easiest way to do that [create cap space] would be to extend Prescott’s contract,” Archer wrote on January 27, 2023. “They would add four to five years to the deal, pay him a huge signing bonus and knock down his 2023 base salary, allowing them to do whatever they would want. Technically, instead of extending Prescott, they could restructure his contract again and free up about $22 million in room but be left with a ton of dead money in 2025 after his contract expires.”
Dallas Is Expected to Restructure Dak Prescott’s Contract to Create Cap Space
Despite plenty of fans urging the Cowboys to move on from Prescott, the quarterback’s no-trade clause combined with his $160 million contract makes a move unlikely. 105.3 The Fan’s Bobby Belt believes it is a certainty that Dallas will restructure Prescott’s contract this offseason.
“Sure, if somebody wanted to wait until June to trade with you, you could post-June 1 trade [Prescott],” Belt explained during a January 25 edition of “Shan and RJ.” “You’re talking about then, oh yeah, now you free up $31 million. But what will be more likely is the Cowboys can restructure Dak’s contract right now and free up as much as $22 million in cap space. And so, they will restructure.”
The Cowboys Could Sign Dak Prescott to an Extension
A restructure does not mean the Cowboys will sign Prescott to an extension, but it is among the pathways for the team to open up more cap space. Despite the frustration of some Cowboys fans, there is a very real scenario where Dallas signs the star quarterback to a contract extension this offseason. This is partly due to the ability for the Cowboys to create maximum cap space by extending Prescott.
“Would Prescott be more willing to accept a team-friendly deal now that he has cashed in?” Archer pondered. “Now that quarterback contracts will be pushing $50 million per year, would he want to be paid in that stratosphere?”
Prescott still has an additional two seasons remaining on his current deal. The Athletic’s Bob Sturm raises some concerns that the Cowboys will “talk themselves into” an extension for Prescott. Owner Jerry Jones reaffirmed the team’s commitment to Prescott just minutes after the quarterback’s two interceptions-one touchdown performance in the team’s elimination loss to the 49ers.
“Prescott has one more year at the very least and given the financial minds of the Jones family, we should not be shocked if they mess with his contract to fix the cap,” Sturm detailed on January 25. “And yes, that might mean an extension to lower his current numbers. I would not advise this, but we would be foolish to not anticipate they will talk themselves into it. Right here we can stop anyone from their pipe dream of a new QB1. That said, it is time to get outside the box on how this offense operates.”
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Cowboys Predicted to Make $22 Million Move With Dak Prescott