Freeing Up $70M+ of Cowboys' Cap Space

Michael Ginnitti
Michael Ginnitti, Managing Editor & NFL/MLB ExpertFebruary 24, 2022
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The Dallas Cowboys enter the 2022 offseason with a projected -$21M of Top 51 cap space, the 3rd lowest figure in all of football. While a few notable names could be moved off the roster, Dallas holds plenty of big contracts that lend themselves to salary restructures, and freed up cap space. Here’s our look at how the Cowboys can open up $70M of new cap space in the coming weeks.

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Quarterbacks

Predicted Savings: $15.1M

Dak Prescott
Prescott’s $34.45M cap figure currently ranks 8th in all of football. A full restructure of his $20M salary can drop it down to $19.2M.
Predicted Savings: $15.1M

 

Running Backs

Predicted Savings: $9M

Ezekiel Elliott
Despite rumors that the Cowboys may move on from Zeke and roll with Tony Pollard in 2022, his contract tends to make us believe he’ll be in Dallas for at least one more season (though a Post June 1st trade does have some financial merit). His $18.22M cap hit is by far the most of any running back in the NFL, but a full base salary restructure can drop it to $9.1M
Predicted Savings: $9M

Tony Pollard
Enters a contract year in 2022, including a $1.1M cap hit. His future remains tied to the potential out for Elliott.

 

Wide Receivers

Predicted Savings: $16M

Amari Cooper
Carries 3 years, $60M left on his contract including a $22M cap hit for 2022. There’s been some speculation that Cooper will be moved on from this offseason, but other options exist

  1. Do nothing, keep his $22M cap hit intact, making a 2023 trade or release extremely painless in terms of Cowboys’ dead cap ($6M).
  2. Restructure most of his $20M salary into a signing bonus, tacking on 2 void years to the end of the contract. This drops his 2022 hit to $6.89M, freeing up $15.1M of space.
  3. Trade him prior to June 1st, freeing up $16M of space.
  4. Trade him after June 1st, freeing up $20M of space.
  5. Release him prior to March 20th, when his $20M salary becomes fully guaranteed, freeing up $16M of cap space.

Predicted Savings: $16M

CeeDee Lamb
Enters year three of his rookie contract and won’t become extension eligible until after 2022.

Michael Gallup
Pending UFA 

 

Tight Ends

Predicted Savings: $3.85M

Blake Jarwin
Missed nearly all of 2020, & half of 2021 due to injury, giving pending free agent Dalton Schultz an opportunity to steal his role. Schultz is a tag/extension candidate. While moving on from Jarwin won’t free up a ton of room, it’s still the predicted outcome here.
Predicted Savings: $3.85M

Dalton Schultz
Pending UFA

 

Offensive Line

Predicted Savings: $15.6M

Tyron Smith, LT
Despite two years, $27.1M remaining on his contract, and his 8th Pro Bowl berth just a few weeks ago, rumors about Dallas trading Smith away this offseason have begun to percolate. The Cowboys don’t have a viable replacement on the roster as of yet, but that could change in the coming weeks. For now, we’ll assume he stays as is on a $17.5M cap hit, though a Pre June 1st trade would free up $5.5M, while a Post June 1st swap opens up $13.5M.

Connor Williams, LG
Pending UFA

Tyler Biadasz, C
Is entering year 3 of his rookie contract and won’t become extension eligible until after 2022.

Zack Martin, RG
His $20.1M cap hit is the most of any guard in football, and his 93.4 grade from PFF in 2021 ranks him 2nd. A full base salary restructure, adding on two void years, drops that figure to $11.6M.
Predicted Savings: $8.5M

La'el Collins, RT
Finished 2021 as a Top 15 tackle according to PFF, and more than half of his $10M salary is set to become fully guaranteed on March 20th. A full base salary restructure, adding on two void years, can drop his cap hit from $15.25M to $8.14M.
Predicted Savings: $7.1M

 

Defensive Line

Predicted Savings: $8M

DeMarcus Lawrence, DE
Is quickly becoming one of the more polarizing names this offseason, as local beats have him being Restructured, Extended, Cut, and Traded in parallel articles. He finished 2021 as the 4th graded edge defender according to PFF, but carries a certainly high $27M cap figure into 2022. With Randy Gregory a tag/extension candidate this month, it seems like that either he or Lawrence is let go this offseason in some way, shape or form.

  1. Do nothing, keep his $27M cap hit intact, making a 2023 trade or release extremely painless in terms of Cowboys’ dead cap ($11M).
  2. Restructure most of his $19M salary into a signing bonus, tacking on 2 void years to the end of the contract. This drops his 2022 hit to $12.69M, freeing up $14.3M of space.
  3. Trade or Release him prior to June 1st, freeing up $8M of space.
  4. Trade or Release him after June 1st, freeing up $19M of space.

Predicted Savings: $8M

Randy Gregory, DE
Pending UFA

Neville Gallimore, DT
Enters year 3 of his rookie contract and won’t be extension eligible until after 2022.

Carlos Watkins, DT
Pending UFA

 

Linebackers

Predicted Savings: $0M

Micah Parsons, LB
Enters year 2 of his rookie contract and won’t become extension eligible until after 2023.

Keanu Neal, LB
Pending UFA

Leighton Vander Esch, LB
Pending UFA

 

Secondary

Predicted Savings: $0M

Anthony Brown, CB
Enters a contract year in 2022, carrying a somewhat friendly $6.5M cap figure. Dallas would probably be looking to add a CB this offseason, but Brown’s role should be relatively safe. A small extension could lower this cap hit a bit ($1M-$2M), but with minimal financial impact, we’ll assume not for now.

Trevon Diggs, CB
Enters year 3 of his rookie contract and won’t become extension eligible until after 2022.

Donovan Wilson, S
Enters the final year of his rookie contract but could be pushed to a depth role if Dallas adds experience to this position.
Jayron Kearse, S
Pending UFA

 

Special Teams

Predicted Savings: $2.4M

Greg Zuerlein
Enters a contract year in 2022, carrying a $2.8M cap figure into the offseason. With $2.4M to be freed up in moving on, we’ll assume Dallas looks to get cheaper at this spot.
Predicted Savings: $2.4M

Bryan Anger
Pending UFA


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