The Dallas Cowboys and Dak Prescott have reached a new contract agreement, but it is not the one many have been anticipating.
According to ESPN’s Field Yates, the Cowboys converted a $5 million roster bonus that Prescott was due on Sunday into a signing bonus. The minor tweak created around $4 million in salary cap space for Dallas and reduces Prescott’s 2024 salary cap number from nearly $60 million to $55.5 million.
Yates noted that the agreement gives the Cowboys some immediately cap relief but does not prevent them from negotiating a long-term extension with Prescott.
The Cowboys converted a $5M roster bonus due to QB Dak Prescott on Sunday into a signing bonus, creating $4M in salary cap space in 2024.
The move reduces Prescott’s salary cap number to $55.455M, while two extra void years were added to the deal for cap purposes (void years now…
— Field Yates (@FieldYates) March 18, 2024
Prescott is entering the final season of the 4-year, $160 million contract he signed in 2021. That did not change with the restructure. Though, the fact that Prescott’s cap number was lowered might make it easier for the Cowboys to have him play out the 2024 season if the two sides cannot come to an agreement on an extension over the next five months or so.
Prescott had one of the best seasons of his career in 2023 with 4,516 yards, 36 touchdowns and 9 interceptions. He has tremendous leverage in contract talks because of his recent play and salary cap figure — even if Jerry Jones does not want to admit it.
