The Dallas Cowboys are entering one of the most pivotal seasons in recent history and that’s saying something for one of the most polarizing teams in all of sports.
Instead of making the decision to extend franchise QB Dak Prescott — which would have opened up salary cap space and allowed the Cowboys to add talent around their quarterback — Jerry Jones came out publicly and said both sides had agreed to let the Dallas signal caller play out the final year of his deal, meaning there’s a real chance he hits the open market in 2025.
The soon-to-be 31-year-old QB is entering the final season of a four-year, $160 million extension he signed in the 2021 offseason. Owner and de facto GM Jerry Jones almost always gets extensions done with his star players well ahead of time, so it’s quite noteworthy that No. 4 has yet to sign a new deal.
Dak Prescott finished the regular season as a strong MVP candidate after wrapping up one of the best campaigns of his NFL career. The Dallas Cowboys QB led the NFL in several key categories with 4,516 passing yards (third), 36 touchdowns (1st), nine interceptions and a QBR of 72.7 (second in the NFL).
In a way, the Dallas Cowboys have painted themselves into a corner when it comes to Prescott.. He has a no-trade clause in his deal, so he can’t necessarily be dealt. They owe him $59 million in 2024, which gives him a lot of leverage in negotiations—at worst, he can walk away from the table and the Cowboys will have to pay him that money. Again, a cut is a longshot here.
The best decision is for Jones and company to sign Prescott to a long-term extension to free up salary cap space and hope for the best come playoff time.
There’s really no other logical other option. Prescott is set to earn roughly $57 million per year and it’s likely Dallas pays him.
Jerry Jones has never parted ways with a franchise-level quarterback in his prime during his near-40-year run as the owner of the Cowboys. Troy Aikman stayed here until he retired, and Tony Romo was only released because Prescott emerged as the new franchise sta QB during his injury absence.
Dak Prescott knows he can easily receive $50 million-plus on his next NFL contract. If the Dallas Cowboys aren’t willing to pay it, another QB-needy team (Las Vegas Raiders, anyone?) will happily pay it.
Prescott has lacked postseason success (a 2-5 record) up to this point of his career, but teams will be more than happy to pay top dollar for a QB who puts up top-10 stats annually.
While the recent narrative has been that both Jones and Prescott are prepared to let the final year of the deal play out and go from there, ESPN Insider Jeremy Fowler says the Cowboys do in fact want to extend their franchise QB but have been hesitant because of a very specific reason.
Speaking on “SportsCenter”, Fowler reported that contracts negotiations are “complicated because” Prescott carries a $61 million cap for the 2024 season
Well, the Dallas Cowboys want to re-sign Dak Prescott. I continue to hear that talks and negotiations have been a little passive but they have told Dak directly that they want him there long term. It’s just complicated because he’s got a $61 million cap hit on the final year of his deal, a new contract is gonna have to be a huge number. So they want to tread carefully a little bit, as my understanding. If you jump out, you make an offer, if it’s not where it needs to be initially then things get complicated.
“They’ve already negotiated with him three or four years ago and that took a year and a half. So it’s a long process. And they know it’s gonna take a while so it’s something they’re probably slow playing. It’s a little bit of a stare off. But I think sometime this summer, this will heat up because it has to and you know he wants to stay a Cowboy but he is prepared for the notion that he could be a free agent next year. Like he’s open to that reality because things haven’t really launched off yet.”
With CeeDee Lamb waiting on a contract extension and star pass rusher Micah Parsons playing on the 5th year option expecting an extension within the next year, it will be interesting to see if the Dallas Cowboys can keep their three most important players on the roster and continue to compete for a Super Bowl.
