The Dallas Cowboys made a major move on Friday that is expected to free up a large amount of salary cap space. Now, the big question is how much money do they have to improve the roster when NFL free agency starts on March 11.
The Dallas Cowboys have been one of the best teams in the NFL. Unfortunately, while they have won 12 games a piece over the last three years, their elite play seems to only be during the regular season. That is why owner and general manager Jerry Jones must find a way to free up more cap space so they can improve the roster in free agency.
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Entering the offseason, they were one of the franchises that was well above the salary cap and needed to make some big changes to their payroll in 2024. Well, that started this week when NFL Media league insider Tom Pelissero reported the team agreed to restructure the contract of nine-time Pro Bowler Zack Martin.
The rearranged pact will convert some of his money to a signing bonus and free up $13 million in much-needed cap space for the organization with free agency set to start next week.
How much cap space do the Dallas Cowboys now have ahead of NFL free agency?
Getting $13 million back for this season is big news for the Cowboys. However, despite that positive development, the team did not net a large amount of money to now throw at potential free-agent targets this month.
While Dallas is no longer over the salary cap, they are believed to have just above $1 million in free cash after restricting Martin’s contract (via OverTheCap). Their new cap number for the 2024 NFL season is $242.9 million. The salary cap for this season reportedly could be pushed to well over $250 million, which should mean the Cowboys are in a good place heading into free agency. Well, not so fast.
The organization also has $14.7 million dead cap money which brings them close to the rumored salary cap maximum for next season. This is why Dak Prescott receiving a contract extension has become a major story for the organization this offseason. A new deal for the team’s starting QB could be a huge help toward freeing up more money this offseason.
The Dallas Cowboys are not expected to make big signings in free agency, but getting back a solid amount of money could prove pivotal in signing a few players who can improve their depth, and it could aid in re-signing free agents like Tony Pollard, Stephon Gilmore, and Tyron Smith when they hit the open market on March 11.
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