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The Dallas Cowboys and quarterback Dak Prescott have reportedly agreed to a reworked contract to create an additional $4 million in salary cap space in 2024, ESPN's Field Yates reported Monday (March 18) morning.
"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 through 2028). This does not prevent the team and Prescott from further negotiating a long-term extension, but provides Dallas with immediate salary cap relief," Yates wrote on his X account.
The Cowboys had previously restructured the contracts of Prescott and All-Pro offensive lineman Zack Martin last March with Martin later agreeing to a reworked deal that ended his holdout in August. Prescott led all NFL quarterbacks with a career-best 36 touchdown passes and 410 completions, while also throwing for 4,516 yards -- third among all quarterbacks -- in 2023.
The former Mississippi State standout finished second in the 2023 Associated Press NFL Most Valuable Player award voting with 152 points. The Cowboys have been uncharacteristically quiet during the ongoing NFL offseason, becoming the last team to reach an agreement with a player in the NFL's legal tampering period by re-signing long snapper Trent Sieg before re-signing cornerback Jourdan Lewis and special teams ace C.J. Goodwin and adding former Pro Bowl linebacker Eric Kendricks, all while losing All-Pro offensive tackle Tyron Smith to free agency.