The Dallas Cowboys are one of three teams in on Odell Beckham Jr. as the three-time Pro Bowler begins his free-agent tour with the New York Giants on Thursday.
OBJ has been linked to the Cowboys more than any other team, with Cowboys quarterback Dak Prescott openly recruiting the star receiver and owner Jerry Jones not being quiet about his interest in the former first-round pick.
Though, there are certainly financial hurdles to overcome. Beckham is not going to settle for a cheap one-year contract given the market for his services. It’s not yet known whether the Giants or Buffalo Bills are willing to offer up a multi-year deal. What we now know is that Dallas could very well be willing to do just that.
CBS Sports NFL insider Josina Anderson noted on Thursday that it’s “feasible” for Dallas to offer OBJ a multi-year contract “if the numbers are reasonable.”
It was noted recently that Beckham Jr. could be demanding a deal similar to the five-year, $57 million contract Michael Gallup inked with the Dallas Cowboys this past offseason. Whether that would be out of Dallas’ price point remains to be seen. But there are a few different factors here.
First off, the Cowboys will have to think long and hard about signing No. 1 wide receiver CeeDee Lamb to a massive contract extension this coming offseason. He’s been among the most-productive young receivers in the game since entering the NFL as a first-round pick of the team back in 2020. Waiting to extend Lamb could end up costing Dallas in the long run. At the very least, it’s a component in all of this.
How the Dallas Cowboys can afford Odell Beckham Jr.
Let’s assume for a second that Beckham’s market is $57 million over five years or an equivalent annual salary on a short-term deal. If so, Jerry Jones and the Cowboys front office would have to work through some salary cap gymnastics.
We’re not necessarily talking about this season. Dallas has $7.29 million to spend under the cap. It can afford OBJ’s pro-rated salary. Instead, it’s all about 2023 and beyond.
As of right now, Dallas has $223.5 million committed to salaries next season. That’s roughly $1.8 million under the estimated cap. This also doesn’t even take into account the statuses of Tony Pollard, Dalton Schultz, and Anthony Brown as impending free agents. In particular, Pollard will not be cheap to retain given the running back’s performance this season.
There are certainly some avenues to pursue here. Dallas is more than likely going to release RB1 Ezekiel Elliott regardless of how well he plays down the stretch. Designating the Pro Bowler a post-June 1 cut would save the Cowboys roughly $11 million against the cap. They would also save $13.6 million by releasing injured left tackle Tyron Smith. While that seems unlikely, rookie Tyler Smith has played well in his stead. There’s also an off-chance that the older Smith simply opts to retire.
Moving off veterans Jayron Kearse and Malik Hooker would also save $8 million against the cap. That’s a total of $32.6 million by making just a few moves. None of this takes into account the multiples of millions Dallas would save by restructuring Dak Prescott ($22.4 million), DeMarcus Lawrence ($9.2 million), Zack Martin ($9.2 million), and Michael Gallup ($7.4 million).
In short, these Dallas Cowboys have the ability to create a ton of cap room once the 2022 NFL season comes to an end. Picking up Odell Beckham Jr. at roughly $10 million annually isn’t out of the equation.
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