Less than 24 hours after freeing up more than $20 million in salary cap space by restructuring the contract of wide receiver CeeDee Lamb, the Dallas Cowboys created another $37 million in cap room on Wednesday by reworking the deal of quarterback Dak Prescott.
Between these two deals and getting Osa Odighizuwa signed to a new four-year contract instead of slapping him with the franchise tag, Jerry Jones has taken America's Team from ranking in the bottom 10 in salary cap space into the top 10 in just a matter of days.
And while it remains to be seen what Jones does with this extra cash once free agency begins, the fact that he's making these moves is a good sign for Cowboys fans, as he often waits as long as he possibly can to get these types of things done.
So, exactly how much money does Dallas have at its disposal after the Prescott restructure?
The Cowboys now have the eighth-most salary cap space in the NFL with more than $54 million
So, let's have a look at the timeline here.
When the NFL officially set the 2025 cap number at $279.2 million, Dallas had approximately $4 million in cap space, which ranked among the bottom 10 in the NFL at the time.
While Odighizuwa's new deal is worth up to $80 million over four years, his cap hit for the 2025 season will only be $6.25 million. The figure will naturally jump in the future, but it's a good deal for now, especially seeing as it would have cost the Cowboys $25.1 million to tag him.
With Lamb, Dallas converted $25.68 million of his 2025 salary into a signing bonus, creating $20.5 million in cap space.
And with Dak, who was set to have an astronomical cap hit of nearly $90 million, the Cowboys converted $45.75 million of his 2025 salary into a signing bonus, thus adding another $36.6 million in cap room.
According to Over The Cap, Dallas now has $54,326,436 in total cap space and $50,140,176 in effective cap space, with the latter signifying the estimated amount a team will have after signing at least 51 players and its projected rookie class to its roster.
In terms of total cap space, the Cowboys now rank eighth in the NFL with one week remaining before free agency officially begins. Here's a quick look at the top 10 as it currently stands.
Rank | Team | 2025 Salary Cap Space |
|---|---|---|
1 | New England Patriots | $127,440,728 |
2 | Las Vegas Raiders | $95,364,914 |
3 | Arizona Cardinals | $77,994,263 |
4 | LA Chargers | $65,332,048 |
5 | Washington Commanders | $64,286,374 |
6 | Minnesota Vikings | $62,851,543 |
7 | Pittsburgh Steelers | $59,692,766 |
8 | Dallas Cowboys | $54,326,436 |
9 | Cincinnati Bengals | $51,849,489 |
10 | New York Jets | $51,811,086 |