The Dallas Cowboys have been one of the busiest franchises in the NFL thus far this offseason.
First, Jerry Jones & Co. took care of some internal business, re-signing a number of key contributors that include Osa Odighizuwa, KaVontae Turpin, Bryan Anger, and C.J. Goodwin, among others.
Then, after clearing more than $57 million in salary cap space by restructuring the contracts of quarterback Dak Prescott and wide receiver CeeDee Lamb, Dallas went out and added 10 new players in the first couple weeks of the new league year, eight in free agency and another two in trades.
Of course, during that same first wave of free agency, America’s Team lost several players, a list that features DeMarcus Lawrence (Seahawks), Jourdan Lewis (Jaguars), Brandin Cooks (Saints), Chauncey Golston (Giants), Chuma Edoga (Jaguars), Rico Dowdle (Panthers), and Cooper Rush (Ravens).
The last player on that list, Cooper Rush, has now been replaced as the Cowboys recently struck a deal with the New England Patriots to acquire quarterback Joe Milton, who will seemingly overtake Will Grier on the Dallas depth chart as Dak Prescott’s backup.
So, again, Dallas has been busy. But what has all of this movement done to the Cowboys’ cap situation? Let’s have a look.
The Cowboys still have the seventh-most total salary cap space in the NFL at more than $37 million
Following this latest trade with New England, the Cowboys now have $37,660,095 in total salary cap space, according to Over The Cap, which is the seventh-most in the league. The Patriots currently sit in the top spot with $$67,649,279.
In terms of effective cap space, which is the projected figure a team will have after signing at least 51 players and its rookie class to its roster, Dallas has $33,587,719, which ranks fifth.
Despite having his contract restructured, Dak still owns the franchise’s largest cap hit for the 2025 campaign at $50,518,430. Lamb now ranks fourth at $15,332,353.
Just above CeeDee in third is offensive tackle Terence Steele at $18,125,000. And sitting in second is none other than Micah Parsons at $24,007,000.
Parsons, of course, is set to play the upcoming season on the fifth (and final) year of his rookie contract and is still awaiting a long-term extension, one that could see him become the highest-paid non-quarterback in NFL history.
Naturally, his cap number could change once the new deal gets done—assuming that happens, that is—but for now, this is where the Cowboys stand.
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