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Reworked Contract Process Starts With Ware; More To Come
IRVING, Texas – The Cowboys might have taken a later start than other teams, but when it comes to getting down under the salary cap, that process is now in full swing.
The Cowboys officially restructured DeMarcus Ware’s contract Wednesday evening and will likely turn in a few more deals this week, possibly by the end of Thursday’s business day.
A team source said the Cowboys are expected to restructure as many as “seven or eight” contracts in the next week.
Heading into this week, the Cowboys were about $20 million over the salary cap and must be completely under the cap by March 12.
The club saved more than $4 million off the cap this year by converting $5 million of Ware’s base salary into a signing bonus. The Cowboys also lowered some of his cap charge by adding voidable years to the end of the deal. However, it means Ware can void his deal after 2015.
And then there’s Tony Romo’s deal. Romo has one year left on his current contract and is currently counting $16.8 million for 2013. But Romo’s deal is more than just a simple restructure, which he has done in the past.
With a year left on his deal, Romo is seeking a long-term contract, likely in the neighborhood of $16-19 million annually. Still, a contract like this can be structured in a way that would certainly lower his 2013 cap charge and help the Cowboys get under the cap.
Still, both owner Jerry Jones and VP Stephen Jones said last week from the combine in Indianapolis the Cowboys can get under the cap before March 12 without signing Romo to a new contract.
Yet, if the Cowboys were to have any flexibility in free agency, it’s likely a deal with Romo would have to be in the cards.