What Cowboys' latest Dak Prescott contract decision really means
The Dallas Cowboys are kicking off the second week of 2024 NFL free agency by clearing some cap space through quarterback Dak Prescott. Per ESPN's Field Yates, the Cowboys converted a $5 million roster bonus due on Sunday into a signing bonus. This will create $4 million in cap space. The date was key as […]
The Dallas Cowboys are kicking off the second week of 2024 NFL free agency by clearing some cap space through quarterback Dak Prescott.
Per ESPN's Field Yates, the Cowboys converted a $5 million roster bonus due on Sunday into a signing bonus. This will create $4 million in cap space. The date was key as the roster bonus became not convertible once it vests, which it was set to do on Monday.
Such conversions to signing bonuses can automatically be triggered by the team and it's in no way a pay cut. But the reestructure brings down Prescott's cap number from $59 million to $55 million, still a lofty sum.
Notably though, the Cowboys tacked on two more "void years" to the deal which allows them to prorate the conversion through 2028 for cap relief.
This last bit is intriguing as fans try to interpret what the conversion means: As both sides continue to negotiate an extension with Prescott entering a contract year, does it mean they're not extending the quarterback?
Well, not quite. The Cowboys wouldn't have been able to add extra void years to the contract without Prescott's permission so the move itself is a sign of cooperation. An extension is still on the table and this news shouldn't be perceived as a sign that they're not getting it done.
If anything, it buys them some time while they find ways to open up cap space through restructures.
Cowboys Nation would be wise to not perceive the news as a sign the franchise is about to go shopping for costly free agents. So far, they've shown they're not interested in making any sort of splashes and any efforts to open up cap space will likely be all about smaller signing and/or the rookie pool before the NFL Draft comes around in April.
