In preparation for the start of the regular season the Dallas Cowboys have restructured the contract of running back Ezekiel Elliott to create $6.88 million in cap room. Elliott had $8.6 million of his salary converted to a signing bonus reducing his cap number from $13.7 million to $6.82 million. Dallas now has approximately $12 million in cap space for 2021 which is more than enough to cover the regular season.
Elliott’s 2022 cap number will now increase by $1.72 million to $18.22 million next year. His dead money increased by $6.88 million but because his salary for 2022 is already guaranteed that was of no concern for Dallas in making this decision. Elliott will now cost $11.86 million to release in 2023 which is the year the salary cap is expected to return to more normal levels.
Jason is the founder of OTC and has been studying NFL contracts and the salary cap for over 15 years. Jason has co-authored two books about the NFL, Crunching Numbers and the Drafting Stage, which are widely circulated in the industry and hosts the OTC Podcast. Jason’s work has been featured in various publications including the Sporting News, Sports Illustrated, NFL Network and more. OTC is widely considered the leading authority on contract matters in the NFL.