Cowboys, Dak Prescott Restructure Contract to Create Salary Cap Space

The team has publicly maintained it wants to sign the quarterback to an extension.

The Dallas Cowboys have restructured quarterback Dak Prescott’s contract to create space under the salary cap, according to the Dallas Morning News. The news was confirmed by the Fort Worth Star-Telegram. 

The team is converting Prescott’s $5 million roster bonus into a signing bonus, creating $4 million in 2024 salary cap space. The Cowboys also added two more voidable years onto the end of Prescott’s contract.

The signal-caller still will earn $29 million in 2024, and his salary cap number is $55.455 million, second to only Deshaun Watson of the Cleveland Browns at $63.9 million. 

Dallas Cowboys quarterback Dak Prescott led the NFL with 36 touchdown passes and 410 completions last season. Both figures also were career highs :: Tim Heitman/USA TODAY Sports

Dallas has maintained that it wants to sign Prescott to a contract extension and has continued to work toward one behind the scenes, per ESPN’s Ed Werder. Prescott, 30, threw for 4,516 yards and career highs in touchdown passes (36) and completions (410) in 2023. Dallas went 12–5 to win the NFC East but lost to the Green Bay Packers in the wild-card round of the playoffs.