Clarence Hill of the Fort Worth Star-Telegram reports that the Cowboys have restructured DT Jay Ratliff’s contract.
Ratliff, 31, converted $3.66 million of his base salary to signing bonus. This will free up an additional $2.93 million in cap space.
Ratliff has been mentioned as a potential release candidate in recent weeks, but the Cowboys obviously have plans for him in their new 4-3 defense.
Rapoport adds that the Cowboys converted his $2 million of his base to a signing bonus.
Dallas needed to free up close to $7 million today and releasing Connor should help to the tune $3 million in cap space.
Garafolo mentioned that Dallas has already reworked at least four player’s so far.
More moves could be coming in the next few hours.
Calvin Watkins of ESPN Dallas reports that the Cowboys are currently sitting $6.8 million over the salary cap.
Dallas will have until Tuesday to get their cap situation in order, which means moves will be made in the near future.
According to Watkins, the Cowboys have a few options to consider.
1 . They could release LB Dan Connor or possibly even ask him to take a pay cut.
Conner, 27, signed a two-year deal worth $6.5 million with the Cowboys last offseason. He has a $3 million base salary for 2013 and the move to 4-3 defense makes him expendable.
2. Re-sign QB Tony Romo to a contract extension.
Romo, 32, is in the final year of his contract and counts $16.8 million against the team’s salary cap. They have already said publicly that Romo remains a part of their long-term plans, but there doesn’t appear to be a lot of movement towards a new agreement.
3. Restructure player contracts
Dan Graziano writes that it “doesn’t make too much sense” for the Cowboys to still have Ratliff still on their roster.
Ratliff, 31, still has four years remaining on his contract with at least $5 million in base salary in each of these seasons. The problem with releasing Ratliff is not only would they have to find a replacement for him at some point, but it would still only amount $1 million in cap relief.
Addressing Romo’s contract makes the most sense, but his representatives are expected to be targeting as much as $40 million plus in guaranteed money for his next contract.