As the Dallas Cowboys head into the 2024 offseason, one of the biggest questions they will have to face is the contract of quarterback Dak Prescott.
Prescott is entering the final season of the four-year, $160 million extension he signed with the team in 2021, via Spotrac With that being said, he is now due for a contract extension this coming offseason.
However, the problem is if both sides will be able to agree on an extension.
Dak Prescott’s Contract Situation With the Dallas Cowboys
As mentioned, 2024 is the final year of Prescott’s contract. He was technically signed through 2026, but as an ESPN report noted, the final two years void at the end of the upcoming season.
In 2024, Prescott will have a cap hit of $59.4 million, which is the second-largest in the NFL. Only Deshaun Watson of the Cleveland Browns has more.
Now, the Cowboys have a number of options they can explore. The first one is to do nothing, which means that they will have to take the cap hit in 2024. However, it’s not ideal since it lessens their flexibility in free agency.
They can restructure Prescott’s contract in 2024 and add more voidable years, though that will only delay the hit on them and add more dead money instead.
The final option is extending Prescott and giving him a five or six-year deal, which should give them some salary cap relief in the short-term. After all, with the salary of quarterbacks growing year by year, securing Prescott to a long-term fixed cost appears more ideal for the Cowboys.
Unfortunately for Dallas, signing Prescott to an extension is easier said than done. Dallas and Prescott took some time before agreeing to an extension in 2021. The QB isn’t afraid to play the long game, which should be problematic for Jerry Jones and Co.
Dak Prescott Could Play Waiting Game Again With Dallas Cowboys
According to Dan Graziano of ESPN, there’s a good chance Dak Prescott delays his contract negotiations with the Dallas Cowboys once again, especially since he has leverage.
Prescott doesn’t have to agree to a contract if he’s not happy with it, and that puts the Cowboys in quite a bind.
Here’s what Graziano wrote about Prescott’s situation:
We shouldn’t assume the Dallas Cowboys and quarterback Dak Prescott will agree on a contract extension before the start of the 2024 season. There are multiple reasons, but the main one is Prescott has unprecedented contract leverage and a history of not conceding easily in contract talks.
That cap number incentivizes the Cowboys to do a deal, but considering there’s a clause in his current deal that prohibits the team from using a franchise or transition tag on Prescott, it also means the quarterback doesn’t have to do a deal if he’s not completely happy with it. His worst case scenario is that he becomes a free agent next spring at age 31, which would be quite lucrative.
I think the Cowboys likely get something done extension-wise with CeeDee Lamb once the receiver market finally starts to move. And I’m sure they’ll have extension talks with edge rusher Micah Parsons, though their ability to exercise his fifth-year option for 2026 gives them time to do that one. But all eyes will be on that Prescott deal, and if the last time these two sides went through this is any indication, that negotiation is not likely to be smooth sailing for Dallas.
It remains to be seen what will happen to Prescott and his future with the Cowboys. But for now, fans shouldn’t expect anything to get done any time soon.
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