Insider Details Cowboys’ Approach to New Dak Prescott Contract
One of the weighty issues looming in the backdrop of this 2023 Cowboys season is a new Dak Prescott contract and his future with the team, given that 2024 is the final year of his contract and that he has yet to sign an extension.
Certainly, it is a make-good year for Prescott, now in his eighth season in Dallas and, so far, he has been making good.
That puts the Cowboys in an awkward position. Of course, they want Prescott to play well and finally lead the team deep into the playoffs. But the more that happens, the bigger the check they’ll have to give Prescott when it comes time to dole out the numbers on his contract.
Already, there is an enormous number ahead: $59.4 million for 2024, part of the awkward structure of the original four-year, $160 million Dak Prescott contract from 2021. That salary number is second only to DeShaun Watson of the Browns. The Cowboys could save significant money by trading (he would have to waive his no-trade clause) or just releasing Prescott before that salary kicks in, in March.
But ESPN Cowboys insider Todd Archer says the team remains intent on keeping Prescott. The process might drag into the spring or beyond, however.
“Regardless of when something happens, with the way Prescott has played in the past three games (eight touchdown passes, one interception), it’s hard to see the Cowboys wanting to start over at the most important position,” Archer wrote.
Cowboys Must Save in New Dak Prescott Contract
Significantly, Archer also said that the main hope of the Cowboys in negotiations on Prescott’s contract extension is to reduce that $59.4 million payment for 2024. The more the team can cut that number back, the more money they’ll have to bring in players.
“Ideally, the Cowboys would sign him to an extension in the offseason to lower that cap number and allow the team to add more playmakers to the roster, but negotiations for his current deal took a lot longer than expected, and it’s possible things stretch out again. It should be noted that Prescott has no-trade and no-franchise-tag clauses in his current deal,” Archer wrote.
According to Spotrac, the market value on Prescott is $44.4 million per season. In his last contract, Prescott accepted a backloaded deal that allowed the team more upfront flexibility. The Cowboys could try to get Prescott to go the same route this time, but the price tag will be high.
Jerry Jones: Expect Dak in Dallas ‘A Long Time’
Before the start of the season, Cowboys owner and GM Jerry Jones said the contract extension for Prescott was going to be something he thought about all season. But he also said he expected, in the end, to have Prescott in Dallas for the foreseeable future.
Prescott is in the midst of one of his best seasons, and has been especially effective lately. Despite playing behind a disappointing offensive line and with subpar performances from his No. 2 and 3 receivers, Prescott has a quarterback rating of 100.7, the third-best of his career.
