of dallas cowboys and star quarterback duck prescott Agreed to terms on a contract restructuring to clear cap space in 2024. according to to ESPN's Field Yates. Dallas is converting Prescott's $5 million roster bonus for the 2024 season into a signing bonus, effectively leaving the team with $4 million in cap space this year.
In addition to converting roster bonuses, the move also lowers the quarterback's 2024 salary cap number to $55,455,000. This is still a significant amount of money, but the two sides are negotiating a long-term extension that could lower the cap even further. The restructuring added an additional two years to Prescott's contract, voiding the remainder of his contract through 2028. Prior to signing, Prescott's salary cap number for 2024 was $59.4 million.
Last year, the former fourth-round draft pick agreed to a similar contract restructuring to free up cap space for the team. He allowed them to turn $29 million in salary into a signing bonus, saving them $22 million.
When discussing the team's offseason moves last week, Cowboys executive Stephen Jones said negotiations with the team were ongoing.
“Dak was happy to work with us,” Jones said. “We have had good discussions with him about his contract. He is committed to working with us and has also had personal discussions with Dak. That's all we'll talk about. We want to keep it private. We're not involved in the schedule, but it's certainly a priority for us.”
Prescott was an MVP candidate last season, throwing for 4,516 yards and 36 touchdowns with just nine interceptions. He also had 242 yards rushing and two scores.He finished second to the winner in MVP voting. lamar jackson.
Cowboys restructure contract with Zach Martin
Dallas Cowboys and All-Pro right guard zach martin They also agreed to a contract restructuring earlier this month, which will free up about $13 million in cap space for the team in 2024, according to NFL insiders. Tom Pelissero. Martin was heavily negotiated for a big contract during last year's training camp, so there's still a chance he could be headed for a big contract extension this offseason. If he does not extend his contract, he is scheduled to become a free agent in 2025.
By converting the majority of Martin's salary into a contract bonus, the Cowboys could be in the green for the 2024 season with cap space. They have yet to release any key players or convert other players' contracts, but those moves should be coming.
Martin started 15 of 15 games this season and earned his seventh All-Pro First Team honor. He missed the competition earlier this year due to an injury to his ankle. Further on his resume he has two All-Pro and second team honors, making him one of the most decorated players in Cowboys history.
