Reports: Cowboys restructure QB Dak Prescott deal, create $4M cap space

Field Level Media|published: Mon 18th March, 10:13 2024

Aug 29, 2021; Arlington, Texas, USA; Dallas Cowboys quarterback Dak Prescott , owner Jerry Jones and receiver Amari Cooper talk prior to the game against the Jacksonville Jaguars at AT&T Stadium. credits: Matthew Emmons-USA TODAY Sports

Cowboys quarterback Dak Prescott restructured his contract to lower his nearly $60 million salary cap figure for 2024 and create $4 million for Dallas under the cap, according to multiple reports.

Prescott is entering the final year of a four-year, $160 million contract. The 30-year-old agreed to add void years to his contract to allow the Cowboys to convert his $5 million roster bonus to a signing bonus, ESPN reported, which removes $4 million from the team's 2024 cap.

At $55.45 million, Prescott's cap figure remains the second-highest in the NFL for 2024 behind Browns quarterback Deshaun Watson ($63.97 million).

A long-term contract extension is expected for Prescott and would lower his cap figure immensely and might be necessary with free agency looming for pass rusher Micah Parsons and wide receiver CeeDee Lamb, among others on the Dallas roster.

Prescott on Monday also introduced his baby daughter to fans with photos posted to social media. Prescott and his girlfriend, Sarah Jane Ramos, shared five pictures of the newborn nicknamed MJ — Margaret Rose Jane Prescott.

"Being your parents is the biggest blessing life has to offer and we are so fortunate that you are ours! Welcome into this world, baby girl, you will always be loved and protected! We are so IN LOVE with you, Love, Mom & Dad," the post reads.