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Dallas Cowboys rework Dak Prescott’s deal, free up $5 million in cap space

Aug 21, 2021; Arlington, Texas, USA; Dallas Cowboys quarterback Dak Prescott (4) and running back Ezekiel Elliott (21) on the field before the game against the Houston Texans at AT&T Stadium. Mandatory Credit: Tim Heitman-USA TODAY Sports
Aug 21, 2021; Arlington, Texas, USA; Dallas Cowboys quarterback Dak Prescott (4) and running back Ezekiel Elliott (21) on the field before the game against the Houston Texans at AT&T Stadium. Mandatory Credit: Tim Heitman-USA TODAY Sports

The Dallas Cowboys carved out $5 million in cap space by restructuring the contract of quarterback Dak Prescott.

The team announced Tuesday that it converted $6.5 million of Prescott’s base salary this season into a signing bonus.

Prescott and the Cowboys agreed to a four-year, $160 million extension in March.

The team restructured running back Ezekiel Elliott’s deal last week, creating $7 million in cap room.

Prescott has been cleared for Thursday’s opener against Tampa Bay and was listed as a full participant in practice Monday.

Prescott, 28, has not played since suffering a season-ending leg injury during a win against the New York Giants on Oct. 11, 2020.

A 2016 fourth-round draft pick, Prescott has passed for 17,634 yards with 106 touchdowns and 40 interceptions over five seasons and 69 games (all starts) with the Cowboys. He is a two-time Pro Bowl selection.

His best season came in 2019 when he passed for 4,902 yards and 30 TDs, both career bests, but Dallas went just 8-8 that season and did not advance to the playoffs.

–Field Level Media