If the Cowboys trade Romo or release him, he will count $19.6 million against their cap in 2017. If they designate him a post-June 1 release, Romo will count $10.7 million against the cap in 2017 and $8.9 million against the 2018 cap. But the Cowboys would not gain the $14 million cap credit until June 2.
So is it better to have the $5.1 million in March or the $14 million in June?
At present, the Cowboys will need to restructure a few contracts to get under the cap by March 9 when the league year begins. We laid out all sorts of options here, but the Cowboys can get under the proposed cap simply by reworking the deals of Tyron Smith and Travis Frederick, saving them roughly $17 million in cap space.
That will give the Cowboys some spending money going into free agency when the best players on the open market are available. Add in the $5.1 million from Romo¡¯s deal and the Cowboys will be in better shape.
Given the cap room available to most teams, those proposed moves would not put the Cowboys in position to be the highest bidders on a war daddy or any other player at a position of need in free agency.
On a positive note, however, the Cowboys will also be free and clear from Romo¡¯s contract in 2018.
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