(Photo credit: Chris Jones-Imagn Images)

The Dallas Cowboys restructured quarterback Dak Prescott's contract on Wednesday, carving out $36.6 million in cap space, according to multiple reports.

The Cowboys created a total of $56.6 million under the 2025 salary cap the past two days by reworking wide receiver CeeDee Lamb's contract on Tuesday before addressing Prescott's deal.

Pass rusher Micah Parsons is expected to receive a long-term extension this offseason to avoid a contentious holdout the likes of which dominated training camp last summer, where Lamb refused to report and perform on the fifth-year option in his rookie contract.

Parsons' value could be impacted by the agreement announced Wednesday between the Raiders and defensive end Maxx Crosby, who became the highest-paid non-quarterback in the NFL with a three-year, $106.5 million extension.

The Cowboys converted $45.75 million of Prescott's 2025 salary into a signing bonus. Prescott signed a four-year, $240 million extension with the club last September. He'll now count $52.9 million against the Cowboys' cap in 2025.

Prescott's 2024 season was cut short by season-ending surgery to repair a partial avulsion of the hamstring tendon in November. Prescott threw for 1,978 yards with 11 touchdowns and eight interceptions in eight games last season.

A three-time Pro Bowl selection, Prescott owns a 76-46 record in 122 career starts since being picked by Dallas in the fourth round of the 2016 NFL Draft. He has thrown for 31,437 yards with 213 touchdowns and 82 interceptions.

When the 2025 NFL campaign kicks off, Prescott will play for his third head coach with the Cowboys. Brian Schottenheimer -- the team's offensive coordinator the past two seasons -- will take over for the departed Mike McCarthy, who held the role since 2020.

--Field Level Media