For one of the most divisive teams in sports, the Dallas Cowboys are about to embark on one of their most important seasons in recent memory.
Rather than opting to extend franchise quarterback Dak Prescott, which would have freed up salary cap space and enabled the Cowboys to add talent around their QB, Jerry Jones publicly stated that the two parties had decided to allow the Dallas signal caller to finish out his contract, which means there’s a good chance he will hit the open market in 2025.
The quarterback, who will turn 31 in a few months, has inked a four-year, $160 million contract deal in the offseason of 2021. It’s remarkable that No. 4 hasn’t signed a new contract yet because owner and de facto general manager Jerry Jones nearly always completes top player contracts well in advance of the deadline.
Dak Prescott had just completed one of his best NFL seasons, and he entered the regular season as a strong candidate for MVP. With 4,516 passing yards (third most), 36 touchdowns (first most), nine interceptions, and a QBR of 72.7 (second in the NFL), the Dallas Cowboys quarterback led the NFL in several important statistics.
When it comes to Prescott, the Dallas Cowboys have sort of put themselves in a bind. He cannot necessarily be dealt because of a no-trade clause in his contract. He has a lot of negotiating leverage since they owe him $59 million in 2024; at worst, he can walk away from the table and the Cowboys will still have to pay him that amount. Here, too, a cut is a long shot.
To free up salary cap room and hope for the best when it comes to the postseason, Jones and company would be better served signing Prescott to a long-term agreement.
Really, there isn’t a single other rational choice. Prescott is expected to make about $57 million year, and Dallas most likely pays him.
Throughout his nearly 40-year tenure as the Cowboys’ owner, Jerry Jones has never parted ways with a quarterback at the franchise level during his peak. During his injury hiatus, Prescott emerged as the new franchise quarterback, and Tony Romo was only let go because Troy Aikman remained here until his retirement.
Dak Prescott is aware that his next NFL contract could possibly pay him $50 million or more. Another team in need of a quarterback (the Las Vegas Raiders, perhaps?) will gladly pay it if the Dallas Cowboys are unwilling to pay it.
Although Prescott has a 2-5 record in the postseason thus far in his career, teams will gladly pay a premium for a quarterback who consistently ranks in the top ten in terms of metrics.
The current narrative suggests that both Prescott and Jones are willing to see out the last year of their contract before making any changes, but ESPN Insider Jeremy Fowler claims the Cowboys are actually interested in extending their franchise quarterback but have been holding off for a very specific reason.
Prescott has a $61 million cap for the 2024 season, thus contract negotiations are “complicated,” according to Fowler, who was speaking on “SportsCenter.”
The Dallas Cowboys intend to sign Dak Prescott again. I have heard that although the discussions and negotiations have been a little apathetic, they have made it clear to Dak that they want him to stay for the long run. The reason it’s complicated is that he has a $61 million cap hit in the last year of his contract; a big sum will need to be agreed upon in any new agreement. So, from what I hear, they want to proceed with some caution. Things get tough if you jump in and make an offer and it’s not where it should be at first.
“It took a year and a half for them to deal with him three or four years ago. It’s a drawn-out procedure. And they’re probably sluggish playing it since they know it will take some time. It resembles a tiny stare-off. He wants to stay a Cowboy, but he’s ready for the possibility that he could be a free agent next season, so I believe that this will heat up at some point this summer. Like, since things haven’t really taken off yet, he’s receptive to that reality.
It will be interesting to watch if the Dallas Cowboys can keep their three most important players on the roster and still contend for a Super Bowl with CeeDee Lamb waiting on a contract extension and star pass rusher Micah Parsons playing on a fifth-year option anticipating an extension within the next year.
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