Cowboys restructure Terence Steele's contract, freeing up cap space
The Dallas Cowboys have reportedly restructured the contract of right tackle Terence Steele, freeing up $4.5 million in cap space for the 2024 season.
Steele, 27, signed a five-year, $86.8 million contract extension with the Cowboys in September 2023, which included $50 million guaranteed.
The restructure does not affect the overall length of the deal. A Texas Tech product, Steele joined the Cowboys as an undrafted free agent in 2020.
MORE: Jerry Jones sets high expectations for Dak Prescott after big deal
Despite being a longshot, he consistently made the team's 53-man roster early in his career and has become a reliable starter at right tackle.
Steele's contract restructure comes as the Cowboys continue to navigate their salary cap situation and make moves to improve their roster for the upcoming season.
According to Spotrac the Cowboys currently have the 7th most cap space in the league.
— Enjoy free coverage of the Cowboys from Dallas Cowboys on SI —
SWAG: Dallas Cowboys uniform schedule unveiled for 2024 NFL season
Fantasy Football: Cowboys players who could make or break your team
Repeat? Latest NFC East title odds for 2024 NFL season may surprise you
Cowgirls: Meet Abby Summers: Dallas Cowboys Cheerleader Rookie