Yesterday, Pro Football Talk released a league-wide overview of where each team currently stands in terms of available salary cap space. The Dallas Cowboys rank sixteenth with $7.18 million still available under the 2012 salary cap as of June 22.
As per June 22, Jacksonville ($25.1 million), Tennessee ($20.0 million) and Philadelphia ($18.0 million) have the most cap space available, while New Orleans ($2.3 million), Oakland ($1.3 million) and Baltimore ($0.6 million) have the least.
The Cowboys' $7.18 million available cap space is due in large part to the fact that Terence Newman’s cap charge is off the books, resulting in a net gain of about $5.5 million against this year's cap. $2 million in dead money will be left from Newman's contract in 2013, but that's the only dead money (so far) against the Cowboys' 2013 cap.
Morris Claiborne is the only remaining unsigned draft pick, and he'll cost about $2.9 million against the cap, but because of the Rule of 51, Claiborne's net cap hit will only be a little over $2.5 million, leaving the Cowboys with about $4.7 million in cap space.
They'll need some of that money to fit all players under the cap at the start of the season, not just the 51 players with the highest salaries as they are currently required to. But overall, that still leaves them with some financial flexibility to sign an extra player or two if the opportunity presents itself (plus they could still restructure some contracts to make even more money available, as could any other team).
If you were the Cowboys, what position would you spend the remaining money on - or would you roll over the remaining cap dollars into 2013?