The Cowboys have cap space to sign Micah Parsons to a long-term extension and to participate in the first phase of free agency. Will they?
The Cowboys have freed up $56.6 million in cap space over the past two days.
After reworking receiver CeeDee Lamb’s contract Tuesday to open $20 million in cap space, the Cowboys did the same with quarterback Dak Prescott.
Patrik Walker of the team website reports that the Cowboys restructured Prescott’s deal, which will free up $36.6 million.
Prescott has autoconversion in his contract, authorizing the Cowboys to restructure the deal when it wants. Lamb also has that in his contract as do most big-money veteran deals.
Prescott was scheduled for a cap number of $89.896 million in 2025, so it was a given the team would use its right to rework the deal.
The drop in this year’s cap number will lead to a $9.15 million increase in his 2026 cap number to $76.8 million, so another adjustment likely will happen a year from now.
Though the Cowboys have the cap space at $54.3 million, per overthecap, they apparently do not have the appetite to spend the money in free agency. Owner Jerry Jones contradicted his son, executive vice president Stephen Jones, saying “aggressive” is not the right word to use regarding the team’s free agency plans.
Stephen Jones said last week the team would be “selectively aggressive” in free agency after they signed only running back Royce Freeman and linebacker Eric Kendricks in the first phase of free agency last year.
