The Dallas Cowboys and Dak Prescott haven't agreed to a contract extension, but they seemingly took a major step toward reaching a middle ground on Monday. Per reports, the Cowboys converted a $5 million roster bonus due to Prescott into a signing bonus, clearing $4 million in salary cap space.
Prescott's cap number now sits at $55.45 million and the move adds two additional void years through 2028 for cap management purposes.
This isn't a traditional restructure, so this maneuver required Prescott's permission. It might not seem like it, but that's notable. Collaborating to help the Cowboys navigate the cap is a good sign for Prescott and Dallas achieving an extension. That isn't expected to happen until training camp and the team has plenty of roster holes to address in the meantime.
With that in mind, here are some free agents the Cowboys can now afford thanks to Prescott's reworked contract.
3. DE Derek Barnett
The Cowboys simply cannot justify not signing an edge rusher. There's likely hope within the organization that Sam Williams will make a profound impact in year three. Whether or not that happens, though, Dallas' pass-rush rotation is three-strong right now: Micah Parsons, DeMarcus Lawrence and Williams.
Yes, Chauncey Golston is still around, but he plays all over the defensive line. He's not an outright edge rusher. Though underrated and impactful as a versatile DL, Golston isn't enough to overcome the loss of Dante Fowler, let alone Dorance Armstrong.
Barnett is a familiar name for the Cowboys given his time in Philadelphia. He was surprisingly waived by the Eagles in November after agreeing to a revised contract. Barnett landed on his feet in Houston, where he played a crucial role in the Texans' run to the playoffs.
It's admittedly only a five-week sample size, but Barnett posted a 86.1 pass-rush grade with 18 pressures, 2.5 sacks and nine quarterback hits from Week 14-18, per Pro Football Focus. Still just 27 years old, signing Barnett would do a lot to help offset the losses of Armstrong and Fowler.
2. LT David Bakhtiari
All signs point to the Cowboys drafting a tackle with the No. 24 overall pick. There is speculation going around whether Tyler Smith will move to left tackle, but it would behoove Dallas to keep him at left guard, where he was a Second-Team All-Pro in just his second season.
Even if the Cowboys draft Tyron Smith's replacement, they'd be smart to get a veteran tackle in the building as insurance. The tackle market has been slow-moving, so there are still multiple compelling options, including Trent Brown, Josh Jones, Charles Leno Jr. and Mekhi Becton.
David Bakhtiari might be the only LT in Dallas' price range, however. Bakhtiari has only played 13 games over the last three seasons due to an ACL injury and various setbacks, but reports indicate he's rehabbing and planning on playing in 2024 amid retirement speculation.
Signing Bakhtiari would be a roll of the dice given his recent injury history, but having him as a placeholder until whomever the Cowboys draft is ready to start, or as a backup/swing tackle if said rookie can start right away, would be a strong response after losing Tyron Smith.
1. RB J.K. Dobbins
The Cowboys finally value the running back position in a way that is conducive to winning, but they've taken it to an unforeseen extreme. It's evident that household names like Derrick Henry and Saquon Barkley were never on their radar, but even Tony Pollard fell outside their comfort zone.
Heck, lifetime time-sharer Zack Moss' $4 million salary was too expensive. Now, the running back pickings are alarmingly thin. Dallas reportedly kicked the tires on A.J. Dillon, but he's since agreed to return to the Packers.
J.K. Dobbins might be the best of the remaining bunch. He certainly has the most upside, but probably has a truncated market due to his injury history.
A former second-round pick of the Ravens in 2020, Dobbins suffered a torn ACL in his second season in 2021 and missed nine games the following year with another knee injury. He then suffered a torn Achilles in Week 1 this season after completing a long road to recovery.
Dobbins obviously carries great injury risk, but he's averaged 5.8 yards per carry in his career and looked the part of a multi-time Pro Bowler as a rookie. Pairing the 25-year-old with a 2024 draft pick would give Dallas a potentially exciting and dynamic backfield and it would hardly cost them any cap space.