Cowboys’ updated cap space after Osa Odighizuwa deal, CeeDee Lamb restructure

Dallas Cowboys wide receiver CeeDee Lamb

While the Dallas Cowboys have been notoriously dull in the early weeks of the NFL offseason in recent years, Jerry Jones & Co. made some surprisingly significant moves on Tuesday, perhaps signaling the Dallas front office may be a little more active once free agency officially begins on March 12.

Or perhaps these are the only significant moves America’s Team makes all month. After all, these are the Cowboys we’re talking about here, so you just never know, right?

Early Tuesday morning, the Cowboys announced that defensive tackle Osa Odighizuwa had agreed to a new four-year contract worth up to $80 million with $52 million in guaranteed money, thus keeping the 26-year-old from hitting the open market.

Odighizuwa, who was also a franchise tag candidate, is coming off the best overall season of his career, recording 47 combined tackles, 23 QB hits, and 4.5 sacks, and would have easily been one of the top targets at his position once free agency began. Now, though, he’s set to wear a star on the side of his helmet through the 2028 campaign.

A short time later, it was announced that superstar wideout CeeDee Lamb had agreed to restructure his contract. With this move, Dallas converted $25.68 million of his 2025 salary into a signing bonus, thus creating more than $20 million in salary cap space.

While this expected move doesn’t necessarily mean the Cowboys are set for a spending spree, the fact that Jones is making this type of decision so early instead of waiting as long as possible is nothing but good news at this point.

And it will take a few more moves like this, such as restructuring Dak Prescott’s contract, for Dallas to go on a massive spending spree anyway. But again, the moves made are still good news for Cowboys fans.

So, exactly how much salary cap space do the Cowboys have after these transactions? Let’s have a look.

The Cowboys have close to $18 million in cap space after extending Osa Odighizuwa and restructuring CeeDee Lamb

Even with the NFL upping the 2025 salary cap significantly to $279.2 million, the Cowboys didn’t have much to work with coming into the week, as they had roughly $4 million at their disposal.

Not long after Odighizuwa’s new deal was announced, ESPN reported that his 2025 cap number will be $6.25 million, which will undoubtedly be helpful from an overall standpoint.

In agreeing to restructure his contract, Lamb will now have a 2025 cap hit of approximately $15.33 million.

Per Over The Cap, the Cowboys now have $17,889,643 in total cap space and $13,703,683 in effective cap space, the latter being the amount a franchise will have after signing at least 51 players and its projected rookie class to the roster.

If this doesn’t seem like much, it’s because it’s not. But again, if the Cowboys can get Prescott to restructure his deal, they could create another $37 million or so. And if Trevon Diggs gets on board, the number jumps again. And if the Zack Martin situation is handled correctly, the figure gets even higher.

When all is said and done, Dallas could conceivably have anywhere between $60 million and $100 million in cap space. But for now, this is where they’re at, which is a solid start.

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