Cowboys Cap Situation Explained

TheRanchReport.com brings you the latest on the Cowboys cap situation.

With the announcement late Thursday that the league extended its deadline for free agency by three days, putting off what threatened to become a mass purge of high-priced players from rosters, the Dallas Cowboys still find themselves to be in a good position.

Why?

Because unlike other teams in the league, they have options. In fact, the argument could be made that team has plenty of options.

Sure, the Cowboys have needs this off-season, just like every other team in the National Football League. They need to sign a quality kicker. They also need a veteran tackle, a free safety, and maybe even a wide receiver.

Some of those needs will be addressed in the upcoming draft, but many, if not all, will be looked at first in free agency.

And that brings us to the salary cap. Just how much money do the Cowboys have to spend right now at this very second?

Good question, keep reading to find out the answers. Currently, the Cowboys salary cap looks something like this:

1) If no agreement is reached between the NFL and the NFL Players Association and the cap is not raised from its current $94.5 million limit, Dallas currently has no more than $10 million available. This number was reached after the release of La'Roi Glover, which saved the team more than $6 million, after Dat Nguyen retired, which saved the team over $1.8 million, and also with the release of S Derek Pagel ($460,000), K Brett Visintainer ($310,000) and DT Will Blade ($455,000) from the injured reserve list.

2) However, if a new agreement is reached between the NFL and the NFL Players Association before Sunday's 6 PM deadline and the new cap is increased by $10 million, the Cowboys will have roughly $20 million available based on the above scenario.

3) The current $10 million figure can be also be expanded to almost $20 million if the Cowboys elect to re-structure contracts of any of the following veterans: Jason Ferguson, Larry Allen and Marco Rivera.

So, regardless of what happens this weekend, the Cowboys will have the opportunity to make plenty of noise once free agency begins Monday.

And keep in mind, even without a cap increase, the Cowboys can restructure some of their existing contracts. They could also elect to release more players (which doesn't seem likely) to free up more cap room. Or, if there is a cap increase, Dallas may not have to do any restructuring at all.

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