Field Yates reports that the Cowboys restructured the deal of QB Dak Prescott to free up $4 million in cap space for 2024.
The team converted a $5 million roster bonus into a signing bonus, reducing Prescott’s salary cap number to $55.455 million and adding two void years to the contract.
He is still looking to sign a long-term extension with the team this offseason and this move is mainly being done to free up cap space for Dallas.
Prescott, 30, is a former fourth-round pick of the Cowboys back in 2016. He played out the final year of his four-year, $2.72 million contract and was in line to be an unrestricted free agent in 2020 when Dallas placed the franchise tag on him.
The following offseason, Prescott signed a four-year, $160 million contract that included $126 million guaranteed. The contract can top out at $164 million.
In 2023, Prescott appeared in all 17 games for the Cowboys and completed 69.5 percent of his passes for 4,516 yards, 36 touchdowns and nine interceptions. He added 55 carries for 246 yards and two touchdowns.
We will have more news on Prescott and the Cowboys as it becomes available.
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