looking at the roster, this are the guys who would need to be straight out cut ( or traded ):
( I'm only assuming their current contract status, so if I'm wrong, somebody, please, correct me ):
DE: Greg Ellis = saves 4 millions against the cap
SS: Roy Williams = saves 2.22 millions against the cap
CB: Anthony Henry = saves 3 million against the cap ( if cut before March )
Just on those 3 players alone, the Cowboys could save a little over 9 million dollars. That should be enough to sign Pepper to a new contract. ( The rest of the roters is made up, mainly, of players making too little to make a difference OR players who have signed recent extensions and cannot be released ).
HOWEVER ..!!!!
You must take into consideration that the Cowboys would have to create room ( using whatever room they have now PLUS restructuring existing contracts ) for:
1) Ware's extension
2) tagging Miles Austin ( Unless they renounce his rights )
3) create room for signing draft picks
4) create room for signing players like Kevin Burnett and/or other FA to fill the roster.
IF, and I put a big emphasis on " IF ", the Cowboys have close to 10 million dollars right now in free cap space BEFORE cutting anybody and BEFORE restructuring anybody, there's a posibility that signing Pepper could be accomplished. If they don't, then it would be extremely difficult, almost next to impossible.
Oh, and that's without taking into consideration what the Cowboys would have to give up in a trade. You can forget about adding Anthony Spencer ( the most logical piece on the roster ) to any package because the Cowboys would take an over 3 million dollars cap hit if they move him this year.
In other word, if you want this to happen ( and part of me is dying for it ) you better pray that Stephen Jones is God's son and not Jerry's.