Cowboys Eye Contract Restructures to Create Cap Space Ahead of 2026 Free Agency

The Dallas Cowboys enter the 2026 offseason with clear ambitions but a daunting financial challenge. Owner Jerry Jones is looking to reshape some of the team’s largest contracts in order to free up the cap space necessary to make meaningful roster moves.

Jones has identified key players whose deals could be restructured, including quarterback Dak Prescott, wide receiver CeeDee Lamb, offensive lineman Tyler Smith, and defensive linemen Kenny Clark, Quinnen Williams, and Osa Odighizuwa. Each of these players carries a projected cap hit exceeding $20 million in 2026.

The team currently sits $56 million over the NFL’s salary cap, the highest in the league, per Over the Cap. Six of the Cowboys’ seven largest contracts belong to the players Jones has targeted for restructuring, with the remaining deal tied to star receiver George Pickens, recently placed under a franchise tag.

With free agency set to open on March 11, Jones has less than two weeks to negotiate restructuring deals that could generate more than $80 million in cap space. For a team eager to improve, the clock is ticking.

1. Targeted Restructures and Cap Relief

Restructuring contracts is a common strategy for teams that need immediate flexibility, and the Cowboys have several high-dollar players in line for such adjustments. By converting portions of base salary into signing bonuses or extending deals, the team can reduce 2026 cap hits while retaining key contributors. Prescott, Lamb, and Smith anchor the offense and are central to Dallas’ long-term plans. Adjusting their deals would not only free money but also maintain continuity around the team’s core. Similarly, restructuring Clark, Williams, and Odighizuwa would give the defensive front more financial breathing room without losing top-tier talent. If executed successfully, these changes could clear more than $80 million in cap space. That would allow the Cowboys to pursue free agents or absorb trades that would otherwise be impossible under the current constraints. However, even after restructuring, the Cowboys would still face limitations. They may not have the resources for multiple marquee signings, meaning that any major additions would likely require a combination of trades, veteran minimum deals, or smaller roster adjustments.

2. Early Offseason Moves and Roster Management

Dallas has already taken steps to stabilize the roster before free agency begins. Running back Javonte Williams was retained on a three-year deal, while linebacker Logan Wilson was released. These moves reflect the team’s focus on maintaining key contributors while creating modest room under the cap. The Cowboys are also evaluating other pending free agents, including kicker Brandon Aubrey, safety Donovan Wilson, and defensive end Jadeveon Clowney. Re-signing these players could provide continuity and depth, especially if larger acquisitions are limited by cap constraints. Jones’ aggressive approach in past offseasons suggests that he will continue exploring both free agency and the trade market. The combination of strategic restructuring and selective re-signings may allow the team to balance immediate needs with long-term planning. Still, there is no guarantee that restructuring alone will provide enough financial flexibility to make transformative moves. Any additional signings will need to be carefully prioritized.

3. Looking Ahead to Big Moves

While financial hurdles remain, Jones has signaled his willingness to pursue bold roster changes if the opportunity arises. Speculation about potential blockbuster trades has already emerged, as the Cowboys search for ways to upgrade a team that has managed only one playoff victory in the past seven seasons. Cap space generated from restructuring could serve as the foundation for those ambitions. By adjusting existing contracts, Dallas gains flexibility not only in free agency but also in trade negotiations, where salary matching and cap room often dictate the feasibility of deals. The 2026 offseason presents a critical window for the franchise. With the cap restructuring in motion and free agency just days away, Jones will need to act decisively to reshape a roster that has struggled to advance deep into the playoffs. Even with limitations, the Cowboys’ combination of top-tier talent, veteran leadership, and aggressive management could produce meaningful changes if leveraged strategically in the coming weeks.