We’ve started a six-part series looking at the teams that have racked up the biggest spending debt ahead of the 2026 offseason and how they’ll get back under the salary cap. The first article was published this past week, detailing Kansas City’s financial outlook, with the Chiefs ranking first when it comes to the biggest deficit per Over The Cap: 

• Chiefs (-$61.7M)
• Cowboys (-$59.9M)
• Vikings ($51.6M)
• Dolphins ($-29.7M)
• Browns (-$27M)
• Saints (-$26.3M)

Salary cap space may be fungible, but teams do have to be in the black by the time the league year starts in March. That means each of these teams will have some decisions to make, and we’ll be diving into what those might be. 

Next up, America’s team

Dallas Cowboys: -$59,986,448

In the case of the Cowboys, the nearly $60 million in red here doesn’t quite capture the amount of savings they need to clear up. Their top offseason priority is keeping WR George Pickens and that could easily mean a franchise tag. That’s currently projected to be around $28 million. A long-term deal would be far more reasonable against the salary cap but that would require Cowboys owner Jerry Jones to be proactive about getting a deal done by March. Having the space to use the tag gives Dallas time and leverage in negotiations. 

There’s also a decent list of pending free agents the Cowboys have to think about re-signing, including breakout RB Javonte Williams, superhuman K Brandon Aubrey (who’s a restricted free agent but still could get the second-round tender) and most of the edge rushing room, including Dante Fowler, Sam Williams and Jadeveon Clowney. Freeing up budget for a few players in that group should also be a priority, to say nothing of any external additions for a roster that could use help. 

Fortunately, there are some moves the Cowboys can make to free up some big dollars. There are also some restrictions, particularly if they want to go down a certain path with the roster. 

Easy Cuts & Restructures

Restructuring QB Dak Prescott would be the single biggest move of cap savings that Dallas could make. Originally scheduled to count $74 million against the books in 2026, a restructure would take most of Prescott’s $40 million base salary and spread it out over the rest of his deal, creating $31 million in space. That’s halfway to getting under the cap for the Cowboys. 

Restructuring does put more pressure on the Cowboys later on in Prescott’s contract. He’s got two more years after 2026 and will have cap hits of $76 and $86 million in those seasons. Those huge cap hits put a lot of pressure on Dallas to do something with the contract and it’s why Prescott reset the quarterback market at $60 million a year the last time he was up for a new deal. As Prescott gets older — 33 in 2026, 35 in the final year of his contract — that could become more of an issue. But that’s future Jerry Jones’ problem to figure out. 

Other key players like WR CeeDee Lamb and OL Tyler Smith can be restructured for massive savings, $19 million for Lamb and $17.6 million for Smith. Lamb might be the team’s best player outside of Prescott, and Smith doesn’t even turn 25 until next April. Those moves kick the can to future years which means there’s a good chance we’re having a similar conversation this time next year. However, just these three moves would be enough to get the Cowboys under the cap and wipe out that big $60 million deficit. 

The last obvious move, one that would be made even if there weren’t financial benefits, is releasing veteran CB Trevon Diggs. Since signing a lucrative extension based on an outstanding 11-interception season in his second year, Diggs played in just 13 games from 2023-2024. He’s had issues with both knees, including a torn ACL and a tissue graft in his left, and also spent time in the concussion protocol after an at-home accident. He’s been at odds with the team multiple times in the past year, including having a workout bonus rescinded this offseason and being disciplined for parts of other games. It feels a lot like the Cowboys have run out of patience with the veteran corner, and releasing him would save $12.5 million next year. 

Harder Decisions

With the three restructures discussed above and cutting Diggs, Dallas would have just under $22 million in cap space — a reasonable amount but not enough to tag Pickens and handle the rest of business. To figure that out, the Cowboys have to decide how to handle the glut of talent they’ve acquired at defensive tackle. 

Last spring, they were able to keep DT Osa Odighizuwa on a deal just ahead of the start of free agency, and since then they’ve added Kenny Clark and Quinnen Williams in trades. All three are set to count over $20 million on the cap next year. No other team in the league is investing that much in the position. There are 16 defensive tackles making $20 million a year or more, and Dallas has three of them. 

Common sense suggests it’s not wise to allocate $20 million to a third defensive tackle who’s going to be a part-time player, but Jones has been adamant in some of his many interviews this year that it’s not only a consideration, but a strong possibility. This is the same owner who was fond of telling reporters how there was only so much pie to go around when negotiating deals for Prescott, Lamb and of course DE Micah Parsons. Now his tune has changed. 

Jones has touted the three-DT packages that have become a wrinkle for the Cowboys after acquiring Williams ahead of the deadline. But even factoring in the increased rate of usage, five-down fronts made up just 67 snaps of 256 across Weeks 9 through 13 — just 26 percent. The Eagles cited it as a big factor in Dallas’ upset win in November, and the overall defensive results have improved in the second half of the season. But statistically, the Cowboys are actually giving up more yards per play in their three-DT package than other groupings. 

Dallas wants to build through the line of scrimmage on both sides of the ball. However, $20 million for a third defensive tackle is a premium, and it presents the Cowboys with a conundrum no matter what Jones says. If they double down, they will probably feel the pinch somewhere else on the roster. If they move on, it means parting with a player who was trumpeted as a big deal just months ago. If we take Jones at his word, Dallas is likely doubling down. 

They can restructure Odighizuwa to bring down his cap hit, as he’s owed $16.5 million guaranteed in 2026. That would create $12 million in cap space. If the Cowboys did elect to try and trade Odighizuwa, who would probably have a solid market, it would save $4.75 million in cap space but all $16 million in cash, which could then be reallocated across the roster. 

Williams has a $21.75 million cap hit which is also the cash he’s owed. An extension would absolutely lower that number but at the cost of pushing the real price on Williams’ deal much higher. The Cowboys paid a premium in draft capital, surrendering first and second-round picks, to acquire Williams, and one of the perks was having him under contract at a below-market rate for two more years after this one. A new contract would surrender some of that added value. Given how both the salary cap has risen and how the defensive tackle market specifically has grown, Williams would command $30 million a year or more on a new deal with significant guarantees. 

Clark is the most expendable of the three as the oldest and the one playing the worst — though all three players are inside Pro Football Focus’ top 50 graded interior defenders. With none of his $21.5 million in 2026 guaranteed, Dallas has some leverage to work out a new deal at a lower rate to keep him. But the threat of a pay cut loses its teeth on March 15 when Clark is due an $11 million roster bonus. If Clark doesn’t like Dallas’ offer, he can call the team’s bluff and take his chances with the open market. 

If the Cowboys go heavy at defensive tackle, safety and linebacker are two other places teams commonly try to go cheaper. Cutting veteran S Malik Hooker would save $7 million, while moving on from veteran LB Logan Wilson would save $6.5 million. Of the two, Hooker feels a little more likely at this junction. 

Tackle is much more of a premium position than linebacker and safety, but it’s one to watch as well. Dallas could save $8.75 million in cap space and $17 million in cash by cutting starting RT Terence Steele. It would leave a major hole in the starting lineup that would need to be filled, but it seems like an avenue the team could be considering. Steele was benched back in Week 9, and while he’s regained his role since, that seemed like a warning shot. Dallas will have to be careful, as moving on from a solid starting tackle is a little like playing with fire. 

Speaking of which, Cowboys CB DaRon Bland is another potential restructure candidate to add $8.6 million in cap space. His salary for 2026 is guaranteed already after signing a long-term deal this year. However, Bland’s lengthy injury history is a reason Dallas should potentially be cautious about adding more dead money to his contract. He’s missed 11 games over the past two seasons. 

Wrapping Up

The normally loquacious Jones was succinct and monosyllabic for once when asked whether it was realistic for Dallas to not only keep Pickens, but all three defensive tackles in 2026, telling an interviewer, “Yes.” The math checks out, but it will require putting a lot of money onto the books for the future via restructures and extensions, and probably a few cuts as well. 

It could also mean parting ways with most of the team’s pending free agents. Javonte Williams is one to watch, as the Cowboys have been one of the cheapest teams in the league at running back since moving on from Ezekiel Elliott. Williams has had a breakout season but the result could be moving on to greener pastures if Dallas wants to prioritize money for other positions it considers higher value. 

Beyond all that, it might require Jones to get back to being proactive with contracts. Having the flexibility to tag Pickens is important, but if that doesn’t result in a long-term deal sooner rather than later, that’s not good for anyone involved. It’s much better for the Cowboys to spread the money out over multiple seasons instead of taking the tag all in 2026, as it gives them cap flexibility to chase upgrades for a team that’s hovered around .500 all year. The defense still needs a lot of attention, especially at edge rusher with no Parsons and all the pending free agents. 

We’ve also seen in recent years how protracted contract standoffs can hurt productivity for players, even when a deal comes together in the end. With all the money the Cowboys are going to be spending, maximizing the present matters more than it has in a while.