The Dallas Cowboys are one of the most fascinating storylines to monitor this offseason and will be one of the teams with not only to win — but to advance in the playoffs and make a run at the Lombardi Trophy — to consider 2024 successful.
After leading the MVP conversation for much of 2023, Dak Prescott put together one of his best NFL seasons throwing for 4,519 yards, 36 touchdowns and nine interceptions with the highest QB rating of his career at 105.9.
But the biggest question about the Cowboys QB has been his inability to take his team deep into the playoffs and make a run toward the Super Bowl. They have finished with a (12-5) record the last three-straight seasons but haven’t advanced past the Divisional Round, and getting knocked out in their first game in the Wildcard game twice.
It has been anticipated the Cowboys will extend Dak Prescott’s contract this offseason to lower his $59.4 million salary cap hit for 2024. Owner Jerry Jones, though, left open the possibility the quarterback will play out his contract.
“We don’t need to [extend Prescott’s deal], but we can if everybody wants to solve it,” the Dallas Cowboys owner told reporters Friday, via Nick Harris of the team website. “You can get in and get on the same page and see if you can come to an agreement. If you can’t, what we have in place works. And so obviously, if you do it one way, you’ll be working through some of the other areas on the team in a different way, but you can’t really plan on that until you see when you’re there.”
The Cowboys could do a simple restructuring that would give them $18.52 million in cap relief for this season, but it would push money to 2025 and 2026 with Prescott counting nearly $55 million against the cap in 2025 even if he played elsewhere.
Without an extension, the Cowboys risk losing Prescott after this season.
He has a no-tag clause as well as a no-trade clause.
No, I don’t fear that,” Jones said. “Every player you got has some time when his contract is up. You would walk around with the shakes if you feared it. You can’t because they all come up. They all can get hurt. They all can lose some talent, so all of that is not fear.”
Jones said the Dallas Cowboys can create enough cap room without extending Dak Prescott’s deal, allowing them to do what they need to do to go “all-in.” Or Jones’ version of “all-in” anyway.”
“Absolutely,” Jones said when asked directly if the Cowboys can be “all-in” without an extension. “You just have to adjust where you’re going and how you’re going all-in.”
The Cowboys will begin working on Prescott’s contract in the near future, but Jones said the team has no timeline on the decision for an extension.
“What we do there or don’t do [with Prescott’s contract], I couldn’t say at this time,” Jones said, “but the main thing is he’s going to be our quarterback [in 2024].”
NFL Agent Says Dak Prescott Holds All The Cards In Contract Negotiations For Contract Extension with Dallas Cowboys
Gridiron Heroics Insider Matt Lombardo recently reported details on the Prescott situation with the Cowboys.
According a prominent NFL agent, who was granted anonymity to speak freely about a client he doesn’t represent, Prescott holds all the cards. “If Dak is comfortable financially and is okay to approach this seeking a team-friendly deal so they can keep building around him then that’s one approach to take.”
The agent said, “But, if it were me, and he wants every penny he is entitled to, then you go to war and get every last penny.” Former NFL Executive of The Year Jeff Diamond believes there’s a blueprint for what Prescott’s deal ultimately winds up looking like.
The agent made it clear Dak Prescott has all the leverage in negotiations with the Dallas Cowboys.
“Dak has tremendous leverage because the team has to get a deal done,” Diamond says. “They probably have to do a four-year extension for between $210-220 million with a $50 million signing bonus pro-rated over five years and a low 2024 cap number to around $24 million in total to save them about $31 million against the cap this offseason.
“The guarantee probably be about $200 million. That’s pretty strong for a really good regular season quarterback, but not so great in the postseason, with a 2-5 playoff record and coming off a bad loss to the Packers.”