Free agency is just a couple of weeks away, and the Dallas Cowboys still need to get their salary cap ducks in a row. They are $30.17 million over the cap as of this writing, but there is no shortage of levers they can pull to get comfortably under the number.
Cutting players is one option, and several teams have already gotten a head start. Jon Machota of The Athletic named veteran safety Malik Hooker as a potential cap casualty for Dallas, but restructures should come before any major releases.
Dak Prescott sticks out like a neon sign in the dark in that regard, and the Kansas City Chiefs laid the groundwork for Dallas by restructuring Patrick Mahomes' contract on Wednesday.
Mahomes previously had a $78.2 million cap hit for the 2026 season. With the restructure, the number drops to $34.65 million, creating a healthy $43.56 million in cap space.
Restructuring Dak Prescott's contract is a no-brainer for the Dallas Cowboys
Prescott and Mahomes' contracts are very similar. After Mahomes' restructure, Prescott's $74.06 million cap hit is now the third-highest of any NFL player. Only the Browns' Deshaun Watson ($80.71 million) and the Ravens' Lamar Jackson ($74.5 million) have higher figures.
The Cowboys can save $30.96 million by restructuring Prescott, according to Over The Cap, which would bring them under the cap, albeit narrowly.
While $74.06 million is a massive number, it's actually lower than Prescott's $89.89 million cap hit from last year. Sure enough, Dallas converted half of his $45.75 million base salary into a signing bonus to create $36.6 million in cap room. It reduced his cap hit to $53.29 million.
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You can expect a similar maneuver this time around. Restructuring contracts can be complicated, but it’s a no-brainer in Prescott’s case. He’s played at an MVP level in his last two healthy seasons (2023 and 2025).
While his athleticism will naturally decline with age, he looked extremely nimble this past season, and his feel for pressure is as good as it gets. More importantly, his command of the mental side of the position should allow his game to age like fine wine, provided he stays healthy.
The Cowboys really have no choice but to restructure Prescott. CeeDee Lamb and Tyler Smith are other no-brainer candidates, as doing so would free up a combined $36.63 million.
When Jerry and Stephen Jones pull those levers is another story. The new league year isn't until March 11, and they are notorious for taking big decisions right up to the deadline.