Cowboys Make Significant Change to Dak Prescott's Contract

The Dallas Cowboys added some wiggle room to their 2024 salary cap with a move with Dak Prescott.

Jan 14, 2024; Arlington, Texas, USA; Dallas Cowboys quarterback Dak Prescott (4) drops back to pass
Jan 14, 2024; Arlington, Texas, USA; Dallas Cowboys quarterback Dak Prescott (4) drops back to pass / Kevin Jairaj-USA TODAY Sports

The Dallas Cowboys haven't made a bunch of moves during free agency and seem to be taking things slow. They also have contract extensions on the horizon for Dak Prescott, CeeDee Lamb, and Micah Parsons.

The most pressing one is likely Prescott because he's heading into the final year of his deal but the Cowboys haven't agreed to terms on a new contract. Instead, they created some extra cap space with Prescott's current deal.

Per ESPN's Field Yates, the Cowboys have converted a $5 million roster bonus on Prescott's deal into a signing bonus, which creates $4 million in salary cap space in 2024.

Prescott's 2024 cap hit will be $55.455 million but two more void years were tacked on for salary cap reasons.

Yates also added that this doesn't stop Dallas from negotiating a long-term deal with their signal-caller.

Cowboys News: Dak Prescott Helps Create Cap Space for 2024

Although it isn't a staggering number, $4 million against the cap can go a long way. But as for an extension, that is something that both sides need to seriously discuss.

Going into 2024, the four highest-paid quarterbacks make at least $51 million, with Joe Burrow leading the charge at $55 million per year.

Prescott will certainly look to be around this number on his new deal and become one of the highest-paid QBs in the league.

In 2023, the Mississippi State product was third in the NFL in passing yards (4,516), second in QBR (72.7) but first in passing touchdowns (36).

Even though he hasn't made it to the big game thus far in his career, Prescott has been an extremely productive signal-caller.

More Cowboys news and rumors: