The NFL salary cap will make another big jump for the 2026 season. But it won’t be as much of an increase as it could have been for the Dallas Cowboys and other teams around the league.
The NFL announced Friday the 2026 salary cap will be $301.2 million. While that’s the largest in league history, the final cap is on the very lowest end of what was the salary cap projection a month ago.
NFL Network’s Tom Pelissero reported on January 31 the 2026 salary cap range was $301.2-$305.7 million.
The final cap coming in on the lower end hurts teams already with a lot of money tied to current players. The Cowboys fall into that category.
On February 27, Over the Cap projected the Cowboys to be $56 million over the $301.2 million salary cap. That figure ranks the Cowboys dead last in cap space across the league.
Cowboys Salary Cap Situation Entering 2026 NFL Free Agency
It’s important to note that Friday’s update isn’t some doomsday scenario for the Cowboys. The team was always going to enter March with one of the worst cap situations.
The NFL could have increased its salary cap for 2026 another $20 million. The Cowboys would still be last in cap space Friday.
However, there were plenty of silver linings for the Cowboys on Friday. It might not take much for Dallas to get into a better place with the cap.
“More than $131 million can be freed up by the Cowboys via restructures that do not require a player’s permission to do (e.g., Dak Precott, Tyler Smith, CeeDee Lamb, Osa Odighizuwa, with $52 million more available via additional restructures),” wrote Dallascowboys.com’s Patrik Walker.
The Cowboys have another path toward more cap space as well.
“Cap space can also be freed up for 2026 by extending players early, such as Kenny Clark and Quinnen Williams, to lower their respective cap hits — to the tune of a combined $31 million — while simultaneously locking them in for the future,” added Walker.
How George Pickens’ Franchise Tag Impacts Dallas’ Cap Room
The other important thing of note with the NFL salary cap from a Cowboys’ perspective Friday involved George Pickens.
The Cowboys officially placed the franchise tag on the receiver Friday. That added a $27.3 million cap charge for Dallas.
But that figure was already included in the $56 million over the new $301.2 million salary cap.
Pickens’ 2026 cap charge will also change if he and the team reach a long-term agreement.
If that happens, his average annual salary will rise. Plus, the amount of total money the Cowboys have committed to Pickens will be higher. But the 2026 cap number will drop.
With all of this in mind, the NFL setting its salary cap at the lower end of its January projection might not have a major impact on the Cowboys.
“There’s a reason by executive vice president and director of player personnel noted the Cowboys ‘can do everything we need to do’ even with Pickens’ tag applied,” Walker wrote. “And why owner and general manager Jerry Jones continuously states nothing about cap space will prevent Dallas from striking a deal with Pickens or carrying the tag if they need to, without impacting their free agency plans in one way or the other.”
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