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Cowboys restructure Terence Steele's contract, freeing up cap space

Originally posted on Dallas Cowboys on SI | By Ali Jawad | Last updated Sep 12, 2024 9:05 AM ET

The Dallas Cowboys have reportedly restructured the contract of right tackle Terence Steele, freeing up $4.5 million in cap space for the 2024 season.

Steele, 27, signed a five-year, $86.8 million contract extension with the Cowboys in September 2023, which included $50 million guaranteed.

The restructure does not affect the overall length of the deal. A Texas Tech product, Steele joined the Cowboys as an undrafted free agent in 2020.

Cowboys Restructure Contract Of OT Terence Steele For $4.5M In Cap Space https://t.co/mLRVXmiqP3
— NFLTradeRumors.co (@nfltrade_rumors) September 10, 2024

Despite being a longshot, he consistently made the team's 53-man roster early in his career and has become a reliable starter at right tackle.

Steele's contract restructure comes as the Cowboys continue to navigate their salary cap situation and make moves to improve their roster for the upcoming season.

According to Spotrac the Cowboys currently have the 7th most cap space in the league.

The Cowboys have reworked the contract of right tackle Terence Steele, opening up $4.5 million in salary cap space. Add that to cap space saved on Dak Prescott, CeeDee Lamb contracts this year to the money that will most likely be carried over to 2025 ($20m+)
— Todd Archer (@toddarcher) September 11, 2024