Stephen Jones highlights free agency financial concerns for Cowboys next season

The Dallas Cowboys were one of the most inactive teams in free agency this past offseason, spending just $20,130,000 - the least amount of any NFL team. Their most expensive transaction was a one-year, $3 million deal for linebacker Eric Kendricks.

It was a mystery why they didn’t focus on improving the running back position and other necessary personnel, but it seems they were saving up to make quarterback Dak Prescott the highest-paid NFL player in history, and to give wide receiver CeeDee Lamb a mega-extension of his own.

Still, the fact that they ignored those areas needing improvement came back to bite them as they enter Week 15 with a 5-8 record and just waiting to be officially eliminated from the playoffs. Unfortunately, it looks like we can expect more frugality from the Cowboys' front office next season.

Stephen Jones highlights Cowboys' continuing financial woes

It’s too bad that being the wealthiest sports franchise in the world doesn’t do anything to help the Cowboys in their free agency spending. Every team gets the same amount to spend. How they spend it is up to them.

Cowboys executive vice president and co-owner Stephen Jones spoke to the media on Wednesday and highlighted some of the team’s lingering financial constraints.

“I think we knew we were going to have a challenge this year and next year,” Jones said. “It’s going to be really, really tight because we still have some money left from guys who aren’t here today. And we’re going to have other guys who won’t be here in the future, but we still have their cap count."

“We’re always working behind the curtains, thinking about those types of things,” Jones went on. “Everything we’re doing right now, how it affects next year. [Vice president of player personnel] Will McClay and [director of salary cap and player contracts] Adam Prasifka, we’re always taking a look at that.”

According to Over the Cap, the Cowboys currently have $27.3 million in dead money and are projected to have around $9.3 million in dead money next year. The majority of that ($8.7 million) is due to their former wide receiver Michael Gallup.

Heading into next season, they’ll have to consider linebacker Micah Parsons' future, who they will likely want to extend, and that won’t come cheap. The star edge rusher has 241 tackles and 47 sacks in 59 games, and has earned All-Pro and Pro Bowl honors every season since the Cowboys drafted him in 2021. He’s also been outspoken about his desire to stay in Dallas.

Another consideration is nine-time All-Pro right guard Zack Martin, who may or may not be retiring after this season. Earlier this year, the Cowboys restructured Martin’s contract to convert $16.25 million into a signing bonus, creating $13 million in cap room. That means that they can now designate him as a June 1 cut in 2025 for salary cap purposes instead of letting his contract expire.

Regardless of whether he stays, plays with another team, or goes, he will be costly. Martin would be guaranteed $40 million in 2026 if he stays past the June 1 deadline. If he is designated as a post June 1 cut, according to Over The Cap, he would cost the Cowboys $9.4 million in dead cap hits in 2025 and 2026, $4.4 million in 2027, and $3.25 million in 2028.

In addition to Martin, there are two other offensive starters and three defensive starters who are on expiring contracts this season, and the Cowboys definitely cannot afford to extend them all, so decisions will have to be made.

Get your game on! Whether you’re into NFL touchdowns, NBA buzzer-beaters, world-class soccer goals, or MLB home runs, our app has it all. Dive into live coverage, expert insights, breaking news, exclusive videos, and more – plus, stay updated on the latest in current affairs and entertainment. Download now for all-access coverage, right at your fingertips – anytime, anywhere.