Dak Prescott will sign franchise tag with Cowboys, earn $31 million

The Dallas Cowboys have Dak Prescott under contract for 2020. Now, can they get a long-term deal done?

Dak Prescott will be playing for the Dallas Cowboys this season. The question of would Prescott hold out for training camp has been answered, as Prescott intends to sign his franchise tag, according to ESPN’s Adam Schefter.

For Prescott, the tag provides a $31 million salary in 2020, making him the seventh-highest paid player in the league this season. However, the two sides are still mired in a standoff over his long-term value, with the NFL’s deadline being July 15 to reach a pact for 2021 and beyond.

Are the Dallas Cowboys going to sign Dak Prescott?

Should July 15 come and go without a new deal, Prescott can’t sign a multi-year deal with Dallas (or anywhere else) until after the season. At that point, he is slated to become an unrestricted free agent. In the event we reach said juncture, it’s likely Dallas slaps the tag on him again, which means an 120 percent increase in his current salary.

Do the math, and it’s approximately $38 million for 2021. A massive cap charge.

For Prescott, the numbers have been gone over ad nauseam. If the Cowboys intend to give him the long-term contract he’s looking for, the figures are going to top $35 million annually and $110 million in guarantees. In each case, Prescott will reset the market.

Of course, he’ll only be atop the salary mountain for a brief time. The Kansas City Chiefs are likely to give Patrick Mahomes an extension this offseason. When that happens, Mahomes will reign supreme for some time. Deshaun Watson might also top Prescott when he inks a new pact with the Houston Texans, another contract which also may get done in the coming months.