Cowboys EVP Stephen Jones leaves no doubt about Dak Prescott decision

The Dallas Cowboys are beginning offseason preparations after another heartbreaking end to their season. With the championship drought extended to 28 consecutive seasons in Dallas, the allure of the star is beginning to fade.

One of the Cowboys' top priorities is evaluating their future with quarterback Dak Prescott, who has been with the team for the past eight seasons. Prescott is entering the final year of a four-year, $160 million contract he signed with the Cowboys in 2021.

The Cowboys "absolutely" want to get a contract extension done with Prescott, Cowboys executive vice president Stephen Jones said during a news conference at the NFL Scouting Combine on Tuesday.

"Our whole thing with Dak is him being a Cowboy," Jones said. "That's all that's on our mind."

Dallas Cowboys committed to Dak Prescott, whether they like it or not

In reality, Jones knows that the Cowboys don't have any other option. They have to offer Prescott a contract extension.

The Cowboys are currently $9.8 million over the 2024 salary cap limit, and that's largely due to Prescott's contract. Dallas restructured Prescott's contract on three separate occasions, which has resulted in his massive $59.4 million salary cap number for the 2024 NFL season, the second-highest cap hit in the league.

If Dallas wants to remain competitive, they'll have to find a way to reduce Prescott's cap hit. First-team All-Pro wide receiver CeeDee Lamb is also entering a contract year and star linebacker Micah Parsons will be eligible for a contract extension this offseason.

“We got ways to adjust his cap number for this season,” Jones said. “Obviously between Dak and Micah [Parsons] and CeeDee [Lamb], the salary cap is real for us. We want to do deals with all three of them. Do you get to do everything you want to do with the salary cap? I don’t think any team does. But we’re certainly going to be able to go out and go to work and get the things done that we feel like we need to get done to be successful.”

Prescott had one of the best seasons of his career during the 2023 NFL season. He was named as a second-team All-Pro for the first time in his career. Prescott led the league in completion percentage (69.5) and touchdown passes (36) while posting career highs in passing yards (4,516) and passer rating (105.9). That was all overshadowed by the Cowboys' latest playoff meltdown, a 48-32 loss against the Green Bay Packers in the NFC Wild Card Round. During that game, Prescott threw two interceptions and failed to register a single passing yard until the second quarter.

While the ugly playoff outing left Dallas fans with a bitter taste, the Cowboys have few options to move on from Prescott.

Every avenue to move on from Prescott is met by roadblocks:

Play out the contract: The 30-year-old's contract contains a provision that prevents Dallas from designating him as a franchise or transition player in 2025, which means he would be free to sign with the highest bidder in free agency after the upcoming season. Dallas would receive no compensation if Prescott played out his current contract and signed with another team next year.

Trade: A trade would be difficult as well, even if the Cowboys found a suitor. Prescott is scheduled to receive a $5 million roster bonus that kicks in on March 17, the fifth day of the new league year. That gives Dallas a five-day window to find a potential trade partner if the Cowboys want to move on. Even then, Prescott has a no-trade clause in his contract that would allow him to turn down any trade that he didn't find ideal.

Cut: Simply releasing Prescott would result in a $61.9 million dead cap charge and the Cowboys wouldn't be able to erase their overage before the start of the new league year on March 13.

Like it or not, extending Prescott is the only viable way forward for Dallas, and Jones knows it.