The Dallas Cowboys and quarterback Tony Romo have agreed to a restructured contract that will create $10 million in salary cap space and bring the team to less than $1 million over the cap, according to ESPN.com.
ESPN.com reported Tuesday the Cowboys will convert $12.5 million of Romo’s $13.5 million base salary into a signing bonus, dropping his salary-cap figure from $21.773 million to $11.773 million.
Last year Romo signed a six-year contract extension worth $108 million that included $55 million in guaranteed money, giving the team about $5 million worth of cap room for the 2013 season.
With NFL free agency starting March 11, the Cowboys have been crunching numbers to get under the $133 million salary cap for the 2014 season.
Romo is rehabbing from back surgery performed last December. The Cowboys anticipate he will be able to take part in the full offseason program that begins April 21.
ESPN Dallas also reported the Cowboys will finalize the restructured contracts of linebacker Sean Lee and cornerback Orlando Scandrick on Tuesday, which created $6.8 million in cap room. The Cowboys signed Scandrick to a two-year extension late last season that guaranteed him $9 million. Lee signed a six-year extension worth as much as $51 million last summer.