The Cowboys are consistently overpaying mediocre players, Dak Prescott and Ezekiel Elliot being the most well known cases. The team itself isn't horrible, likely a middle of the pack team with an upside of a 10 win season given their schedule. The problem is they have very little money remaining in their salary cap and their team still faces many of the problems as it did last season. The Cowboys are the modern day lesson in FOMO and what that can lead to. 
https://www.spotrac.com/nfl/dallas-cowboys/positional/
https://www.spotrac.com/nfl/cap/
https://www.spotrac.com/nfl/dallas-cowboys/contracts/

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