Why adjustment to Dak Prescott's contract might be too late for Cowboys

While Dallas has gained some financial flexibility, it comes during the second week of free agency. The franchise's brass should've revised Prescott's deal before many of the top players in the market were taken off the board.

Spotrac estimates Dallas has $8.06M in cap room, which isn't enough to make a splash in free agency.

Prescott is entering the final year of a four-year, $160M deal. Extending the three-time Pro Bowler could save $26.23M. According to Calvin Watkins of The Dallas Morning News, Cowboys officials have said they want to do that, but haven't provided a concrete timeline.

Per Bleacher Report's Jordan Schultz, Prescott — who has a 2-5 record in the playoffs — wants a deal that pays him $60M per year, which would make him the highest-paid player in the league. 

Dallas could use one of the void years on his deal to save $18.53M if it changes its mind and thinks this is an overpay.

Last week, the Cowboys signed former Pro Bowl linebacker Eric Kendricks to a one-year deal, their only addition so far in free agency. Tony Pollard (Tennessee Titans) and offensive tackle Tyron Smith (New York Jets) — former Cowboys standouts — have already left in free agency.

The Cowboys could still re-sign cornerback Stephon Gilmore — who had 13 passes defended in 17 games last season — but they must make more moves to increase their Super Bowl chances. That's difficult when several free agents have already signed elsewhere.

Dallas shouldn't have waited to restructure Prescott's contract. It's one reason the team was inactive during the first wave of free agency, preventing it from making significant improvements and resulting in the departure of key players.