Dallas Cowboys salary cap 2023: How much cap space does team have?

For the second straight season, Mike McCarthy led the Dallas Cowboys to a 12-5 record in 2022.

That was sufficient to secure the NFC East's top spot in 2021 but not last season, though. The Cowboys advanced as far as the playoffs, as they had in 2018, before falling to the San Francisco 49ers in the Divisional round.

As NFL free agency began, the Dallas Cowboys' financial situation wasn't good, but the NFL wage cap provides several ways to get around ridiculous contracts and terrible roster judgments from past seasons. The Cowboys were expected to be $7.6 million over the salary cap at the start of free agency, according to Spotrac.

By reworking the deals of Dak Prescott and Zack Martin, the Cowboys released $30 million from their 2023 salary ceiling. Since then, the Dallas Cowboys offense has undergone a dramatic overhaul due to running back Ezekiel Elliott's departure.

Rendering Elliott a pre-June 1 release, according to Spotrac, will save $4.86 million against the salary limit but result in $11.86 million in the dead cap. He would have cost $5.82 million in dead cap this year and $6.04 million the next year if he were released after June 1, saving $10.9 million overall.

The Cowboys selected Elliott in the fourth round of the 2016 NFL draft, and he has been their mainstay in the last seven years. Elliott's release relieves funds for the Cowboys to spend on their expensive quarterback Dak Prescott. Along with Elliott's departure, the team restructured the contracts of seasoned players Tyron Smith and DeMarcus Lawrence on Wednesday (March 15).

Lawrence, who recently agreed an extension, has had $13.35 million of his $15 million salary in 2023 converted into a signing bonus. That saved the Cowboys $8.89 million in salary cap space. The team has afforded itself additional room due to the restructuring of left tackle Smith's contract.

The Cowboys have been working to reduce their $16.1 million cap shortfall since cutting loose Elliott and renegotiating Lawrence, Smith, Prescott, Zack Martin and Michael Gallup's deals. That should provide the Cowboys an extra $45 million in cap space.

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How many draft picks do Dallas Cowboys have in 2023?

The NFL draft overall picks finally fell in place with the unveiling of the 2023 comp selections last week. Three compensatory selections were given to the Dallas Cowboys, giving them a total of nine.

Each player selected in the first few rounds will be given a signing bonus distributed during the first four years of their rookie contract.