The Dallas Cowboys, who lost to the Green Bay Packers in this year’s playoffs are looking to reach the Super Bowl for the first time since 1995. Jerry Jones and the front office have chosen to stick with Head Coach Mike McCarthy and hope to make another run at the Lombardi trophy next season.
However, Dallas is entering a period of financial instability. Dak Prescott is entering the final year of his current deal and will have a massive cap hit for the 2024 season. This could be a major issue considering the holes in the roster and having pending free agents in Tony Pollard, Tyron Smith, Stephon Gilmore and others.
NFL Insider Claims Dallas Cowboys Should Extend Dak Prescott’s Contract to Avoid Cap Hit
Due to the massive cap hit on Prescott’s current contract, Cowboys Insider Jon Machota believes that Dallas should extend his contract to open up their cap space for next season.
“The Cowboys have given no indication that they are considering an immediate future without Prescott, who is entering the final season of his current deal. The most likely scenario is that he signs a new contract next month. If the Cowboys leave his deal as is, he’d count just under $60 million against their 2024 cap, making it difficult to do anything to improve their roster outside of the draft.”
The Cowboys will have multiple contracts to consider outside of Prescott’s in the near future. So, extending him allows Dallas some freedom to improve their locker room outside of this year’s draft. The Cowboys will have Trevon Diggs’ 5-year 97-million-dollar extension kick in at the start of next season and still have to consider securing All-Pro’s Ceedee Lamb and Micah Parsons‘ future.
Will Dallas Have the Financial Flexibility to Be Contenders in 2024?
Despite having to sign multiple superstars in the next couple seasons in order to keep their core around, this upcoming season will revolve around extending Prescott’s contract and lessening their current cap hit. If Prescott decides to help the rest of the team and take a friendly deal, the amount will still not be cheap considering his last deal was worth $160 million.
Even if the 3-time Pro Bowler will come at a cost long term, it would eliminate part of the cap issue that is holding them back in free agency this off-season. If Dallas wants to be contenders in 2024, working things out with Prescott’s contract is crucial for their finances.
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