Per ESPN’s Field Yates, the move clears up $4.5 million in cap space for Dallas. The Cowboys’ long-term right tackle signed a five-year, $86.8 million extension last offseason.

The new deal comes with $50 million guaranteed and makes Steele one of the highest paid right tackles at $17.4 million per year. Steele has started all three seasons since entering the league as an UDFA in 2020 and is now signed with Dallas through 2027. With Steele, OL Zack Martin, and CB Trevon Diggs all signed, the Cowboys will turn to extensions for Dak Prescott and CeeDee Lamb.

It was a little surprising that there was any talk of him being ready for camp after tearing his ACL in December, but Steele was regarded as being ahead of schedule in his rehab. He's a PUP list possibility, but the optimistic talk means he has a chance to be ready for the start of the season. 

Steele is expected back for the start of training camp despite a December ACL tear. His health will be a big deal for the Dallas run game. The Cowboys will be counting on Steele in his walk year as the alternative would likely see them using one of Tyler or Tyron Smith at right tackle.