Cowboys make big move to create $20,000,000 in cap space for free agency, Micah Parsons’ extension

As the Dallas Cowboys prepare to make moves this offseason, such as signing edge rusher/linebacker Micah Parsons to a contract extension, the team recently created $20,000,000 milion in cap space.

The team restructured wide recevier CeeDee Lamb's current contract. Last offseason, Lamb reached a four-year, $136 million extension with the Cowboys.

Reporter Todd Archer of ESPN broke the news.

Archer tweeted:

"The Cowboys have restructured the contract of Pro Bowl wide receiver CeeDee Lamb, creating $20 million of salary-cap space, according to sources."

The team will have to deal with the dead money down the line, but the restructured deal gives them more flexibility to spend money this offseason.

Parsons is currently due for a contract extension as he is playing on the final year of his rookie deal this season. The two sides have already begun contract negotiations and both hope to get a deal done before the start of the season.

Two offseasons ago, the San Francisco 49ers made defensvie end Nick Bosa the highest-paid defensive player in NFL history, signing him to a five-year $170,000,00 contract extension. Many think Parsons will exceed his contract and could make up to $40 million or more per season.

The Dallas Cowboys reached a contract extension with DT Osa Odighizuwa

Osa Odighizuwa during NFL: DEC 29

The Dallas Cowboys have been busy today. Restructuring CeeDee Lamb's contract wasn't the only thing they did today.

The team announced the contract extension of defensive tackle, Osa Odighizuwa.

ESPN reporter Adam Schefter broke the news, and tweeted:

"Cowboys and DT Osa Odighizuwa reached agreement today on a four-year, $80 million deal that includes $58 million guaranteed and a $20 million signing bonus. Odighizuwa’s agent Sam Leaf Ireifej negotiated and confirmed the deal."

Odighizuwa was selected in the third round of the 2021 NFL Draft by Dallas. Since then, he's been a reliable, consistent starter and has gotten better each season.

He's played in all 17 games in each of the past three seasons and last season, he recorded career-high in tackles (47), sacks (4.5), pass deflections (1), and also had a forced fumble.

The team was expected to franchise tag Odighizuwa before today's franchise tag window ended, but the two sides were able to agree to a new deal before then.

The next big move will be for the organization to extend Micah Parsons.