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Cowboys restructure contracts to create cap room for free agency, also release one player

The Cowboys are doing some bookkeeping to free up some money.

NFL: NFC Wild Card-Seattle Seahawks at Dallas Cowboys Jerome Miron-USA TODAY Sports

The first move for the Cowboys to free up some money for 2021 was getting Dak Prescott signed to a long-term deal. The franchise tag cost for Prescott of $37 million was going to hamper anything they wanted to do in free agency and would have required some serious restructuring of contracts just to get under the salary cap. With Prescott’s deal and his cap hit of only $22 million in 2021, the Cowboys were just about in line with the $182.5 million cap that was revealed today.

But that wasn’t really enough money for them to do anything serious in free agency. There was still work to do and the Cowboys made some moves today to free up money.

The Cowboys have restructured the contracts for offensive lineman Zack Martin, Tyron Smith and La’el Collins creating roughly $17 million in cap room, according to a source. The moves get them under the cap with room to make strategic free agent signings if they choose.

It was long assumed the Cowboys would restructure some of the contracts of their offensive linemen and they did. They still haven’t touched Amari Cooper’s contract which is also another one where they could get some quick cash if they need it.

They also made a move by releasing fullback Jamize Olawale.

Olawale opted out of the 2020 season and his contract rolled over to this year. The Cowboys have been moving away from using a regular fullback in their offense so this move makes sense in the Kellen Moore offense.