Cowboys lack cap room to retain key players, must prioritize

Jason Fitzgerald

Cowboys lack cap room to retain key players, must prioritize image

Dallas navigated its way through what many termed "cap hell" in 2014 and wound up winning the NFC East. Just one year later, the Cowboys face difficult decisions involving key contributors, including Dez Bryant and DeMarco Murray.

With a tight cap position, there's a good chance the Cowboys will look very different in 2015.

The free agents

The Cowboys' unrestricted free-agent class this year accounted for 111 starts and nearly 7,000 snaps. Eight free agents to-be started last weekend's divisional playoff game against Green Bay, so Dallas must prioritize and determine a way to make it work for 2015 and beyond.

Here's a list of the Cowboys' unrestricted free agents.

The most expensive is Bryant, who will be one of the more sought-after players if allowed to enter free agency. Dallas could block that situation with a franchise tag worth around $13 million, which may make long-term negotiation more difficult but gives the Cowboys better leverage as summer approaches.

Murray's great season came about three years too late, as he would have been a lock for $10 million per season in the past. He's now more affordable, but with all the risk at the running back position, a team can't consider a contract that defers money to the future.

After those stars come Dallas' key contributors. McClain, a former top 10 pick, came out of nowhere this year to replace injured linebacker Sean Lee. McClain is the kind of player who can earn a solid contract in free agency but disappoint if his effort level diminishes. Dallas will probably allow McClain to walk and keep its fingers crossed that Lee can avoid another injury.

Both players who started at right tackle throughout the season, Free and Parnell, are up for new deals and were key contributors to the Cowboys' dominant run game. Neither appears to be a long-term solution, but one must be retained.

Moore will be seen as a tier two/three cornerback, likely looking at a salary in the $4 million per year range. With all the questions in the Cowboys' secondary, he's a must-keep.

Dallas also has a few restricted free agents in Cole Beasley, Lance Dunbar and Chris Jones. They'll be tendered at a minimum of $1.5 million to go along with the remainder of the list.

The salary cap

Personnel decisions that were made based on a blind belief in a player or a desperation to fill a hole are what got Dallas into cap problems in the past. We all know the names: Miles Austin, Roy Williams, Marion Barber, Jay Ratliff, Brandon Carr. It was one mistake after another, leading to millions wasted on sub-par players.

Those contracts are almost gone, but the Cowboys still only have around $8.2 million in cap space before tenders and cuts (if we assume a $140 million cap limit). In order to keep even a few free agents, Dallas must restructure some contracts.

The easiest decision should be re-working left tackle Tyron Smith's deal to create an additional $8.2 million in cap space. He's arguably the NFL's best tackle and is very young, so such a move carries limited risk. But, then again, things become more difficult after such a move.

Tony Romo presents the league's largest cap hit at $27.78 million. The Cowboys can reduce that figure to $15 million, but that would effectively bind them to Romo through 2017. The quarterback is coming off the most efficient season of his career, but how much does the 35-year-old with back problems have left?

Carr, a $50.1 million mistake in 2012, has a $12.7 million cap hit. Due to bonus money he's already earned, Carr offers virtually no cap relief if released. Dallas may be able to cut about $4 million off his cap number by offering a lower salary in return for a guaranteed roster spot in 2015.

The biggest savings for Dallas come with Henry Melton's release. If the defensive tackle's option is not picked up, the Cowboys gain around $8 million in cap room. Melton was second on the team with five sacks but finished the year on injured reserve. He's not worth his $9 million salary as a part-time player with an injury history, but the Cowboys could look to bring Melton back for half that figure.

The plan

The Cowboys' willingness to "kick the can" on these contracts will determine how many players they can retain. Realistically, Dallas should have enough space for Bryant, Moore and one other key contributor without damaging its future.

Any more than that, and the Cowboys might be in store for the same cap troubles that have seemingly defined the franchise over the last decade. 

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Jason Fitzgerald

Jason Fitzgerald is an NFL salary expert and contributor for Sporting News. Read more of his writing at OverTheCap.com and follow him on Twitter: @Jason_OTC.