Sources have confirmed the Cowboys are in the process of re-working the contract of quarterback Tony Romo in their attempt to get under the 2014 salary cap of $133 million.
The team plans to convert most of Romo's $13.5 million base for next year into a signing bonus, creating roughly $10 million in salary cap space. It will be turned into the league office today.
Combine that with the $6.8 milion they saved on Monday by re-doing the deals of cornerback Orlando Scandrick and Sean Lee and the Cowboys are now with range of being compliant. The Cowboys came into the week roughly $17-18 million over the salary cap.
The Cowboys need to be under the cap by March 11.
Regarding Romo's deal, cap flexibility was built into the six-year, $108 million contract extension last spring Romo signed in 2013, allowing them to turn base salary into signing bonus.
The Cowboys will turn $12.5 million of Romo's guaranteed $13.5 million base salary into a signing bonus. It dropped his salary-cap figure from $21.773 million to $11.773 million, creating the $10 million in salary space.
The offshoot of Tuesday's move is that cause Romo's 2015 cap number to rise to $27.8 million, likely forcing the Cowboys to make another decision on the contract.
The team can clear more room with the expected releases of center Phil Costa and receiver Miles Austin. The Cowboys still have a decision to make on the contract of defensive end DeMarcus Ware.