Frisco, Texas — Stop me if you've heard this before. The NFL is a business. In short, money drives everything, and in pro football, how teams manage their respective salary caps can make or break a season. The Dallas Cowboys are not exempt from this reality.
and complete Offseason NFL calendar revealedinclude Franchise/Transition Tag Deadline And with the new league year starting March 15, the Cowboys must balance filling vacancies on their coaching staff with impending contract negotiations with in-house free agents.
They can now get to work on the latter task now that the NFL has notified teams where the salary cap will be set for 2024. $255.4 millionthe league announced Friday.
As you'll soon see, this number is by far the highest on record.
- 2019: $188.2 million
- 2020: $198.2 million
- 2021: $182.5 million*
- 2022: $208.2 million
- 2023: $224.8 million
- 2024: $255.4 million
*Adjusted to take into account the impact of the new coronavirus infection
The cap has increased year-over-year, except for the 2020 season, when revenue was hit by the pandemic and affected next year.Entering this offseason, the Cowboys were/are running a deficit of approximately $16.1 million. that's all Cap, according to Spotrac.
The actual cap is much higher than expected, which narrows the deficit to just over $3 million, which is a big help for the Cowboys.
Franchise tag amounts are also set by the league (estimates below).
- QB: $36.3 million
- LB: $22.8 million
- DT: $20.9 million
- WR: $20.7 million
- Germany: $20.2 million
- OL: $19.9 million
- CB: $18.8 million
- S: $16.2 million
- TE: $12.1 million
- RB: $11.3 million (note: this is the first tag amount, not the second amount)
- ST: $5.7 million
Needless to say, the Cowboys will need to do something to not only get Glenn on board, but also create some flexibility going forward. In particular, this is not only to retain and acquire free agents in the upcoming spree, but also to prevent core personnel from becoming free agents in the near future.
Dak Prescott earned his third Pro Bowl appearance in 2023 and was selected as an MVP candidate, but despite the team's disastrous loss to the Green Bay Packers in early January, he was drafted by the Cowboys. It had long been expected that he would sign a second contract extension.
By the numbers, Prescott will hit the Cowboys' onerous salary cap hit of $61.92 million in 2024 if his current contract stands. Extending the 30-year-old's contract would immediately provide millions of dollars in cap relief, but so would restructuring, the latter of which is built into his current contract and doesn't require negotiation, giving him nearly $22 million in cap relief. Cap space will be freed up.
It's important to note that, on the books, Prescott's current contract has both a no-trade clause and a no-tag clause.
No matter how the additional money is obtained, it will help future negotiations for CeeDee Lamb, who has a historic season in 2023 and is likely to reset the market as a wide receiver.
And then there's all-world pass rusher Micah Parsons, who is eligible to begin contract negotiations this offseason, but the Cowboys could (and will) exercise his fifth-year option in 2025. Assuming that's the case and they go through with it, that gives them time to sort out a list of other items before they get to the table for a deal that could make him the highest-paid player in NFL history.
However, all three of these players are currently under contract, so let's take a look at who will be let go if a new deal isn't signed by March 13th.
2024 unrestricted free agent:
- Tyron Smith, OL
- Tyler Biardash, OL
- Edoga Chuuma OL
- Tony Pollard, RB
- Rico Doodle, RB
- Sean McKeown, Tennessee
- Stephon Gilmore, CB
- Jordan Lewis, CB
- Noah Igbinoghene, CB
- Jaylon Kearse, S
- CJ Goodwin, DB
- Dorrance Armstrong, Delaware
- Dante Fowler, Delaware
- Jonathan Hankins, DL
- Neville Gallimore, DL
- Trent Sieg, Louisiana
*Cowboys have no exclusive free agents in 2024
That list includes some clear and recognizable headline names, from future Hall of Fame tackle Tyron Smith to Pro Bowl running back Tony Pollard to former NFL defensive player Stephon Gilmore. Yes, and that includes grooms like cornerback Jordan Lewis and defensive end Dante. Fowler and Dorrance Armstrong — two of the latter three are homegrown talents who were drafted and developed into impact players.
From the running back position to the cornerbacks, from the offensive line (which includes a former Pro Bowler at center) to the defensive line (both edge and inside), there's a lot to sift through for the Cowboys' front office.
Still, they have to sift through it and have more pressure than ever to hit the jackpot with their salary cap approach in the 2024 offseason.
