FRISCO, Texas — In a strategic move to optimize their financial leeway, the Dallas Cowboys have liberated close to $57 million from their salary cap by reconfiguring the contracts of standout quarterback Dak Prescott and esteemed receiver CeeDee Lamb.
It is yet to be determined how this newfound financial flexibility will impact the Cowboys’ approach in the upcoming free agency week, where their activities have historically been restrained in recent years. Following a 7-10 season, which interrupted a succession of three playoff-bound, 12-win campaigns, and with the arrival of Brian Schottenheimer as head coach succeeding Mike McCarthy, Dallas may be nudged to address certain roster deficiencies. However, the extent of this inclination remains uncertain.
“I’m not sure ‘aggressive’ describes our mindset,” remarked owner and general manager Jerry Jones during a retirement event honoring seven-time All-Pro right guard Zack Martin. “I wouldn’t say we are lacking in any area, especially considering what we aim to achieve through the draft. My view of free agency isn’t as a solution to gaps.”
The strategic overhaul of Prescott’s monumental $240 million, four-year deal — the first in league annals featuring a yearly average value of $60 million — has resulted in nearly $37 million of cap relief. This development followed closely after the Cowboys managed to clear $20 million by restructuring Lamb’s four-year, $136 million contract. Both agreements were reached last season.
Rising to the forefront, star edge rusher Micah Parsons is in line for an upgraded financial deal, with preliminary negotiations underway. Entering the final year of his rookie deal, Parsons is poised to potentially become the league’s most richly compensated defensive asset. This is in the wake of Las Vegas edge rusher Maxx Crosby clinching the title with a contract averaging $35.5 million annually.
A year ago, Lamb, facing the last year of his rookie contract, abstained from offseason activities and much of the preseason before securing a new contract. Conversely, Parsons shows no such intention.
“The focus was to finalize CeeDee’s contract early,” explained Stephen Jones, executive vice president of personnel. “Securing deals promptly is always the preferred approach.”
Reinforcing their interior defensive lineup, the Cowboys have re-signed defensive tackle Osa Odighizuwa with a four-year, $80 million contract. Additionally, Dallas is retaining special teams specialist C.J. Goodwin on a one-year agreement alongside three exclusive rights free agents — Brock Hoffman, anticipated to take over Martin’s position at right guard, safety Juanyeh Thomas, and defensive end Tyrus Wheat.
Regarding external prospects, the Cowboys have long refrained from signing free agents intended to serve as crucial starters.
“We will remain open to opportunities that arise outside of the draft and internal promotions,” commented Jerry Jones. “We’re observing all prospects that can complement our Dak-led team on both defensive and offensive fronts.”
Significant internal free agency considerations linger, including decisions on defensive end DeMarcus Lawrence and cornerback Jourdan Lewis, both Dallas career veterans.
With Martin’s retirement confirmed, key offensive evaluations include backup quarterback Cooper Rush and Rico Dowdle, the first undrafted running back in team history to surpass 1,000 rushing yards.
“Preserving our own players may appear as maintaining the status quo, but I think it’s often undervalued,” noted Stephen Jones. “There’s also understanding the scrutiny when key players leave.”
Numerous notable names are either up for trade or pursuing trades. Dallas area local Myles Garrett, the 2023 AP Defensive Player of the Year, has requested a trade from Cleveland, though the Browns maintain they won’t comply.
The Cowboys have abstained from trading a first-round draft pick since surrendering theirs in 2019 to the Raiders for receiver Amari Cooper during a 2018 midseason exchange. This year, Dallas holds the 12th pick, a position earned after a two-spot trade-down in 2021 which facilitated acquiring Parsons, the AP Defensive Rookie of the Year and a twice-named All-Pro.
“Given our current structure with financial commitments to Dak, CeeDee, and future plans involving Micah, high draft selections can yield superior football talent,” Stephen Jones remarked. “We just witnessed that with Zack Martin at the table.”
