Cowboys closer to avoiding Dak Prescott contract disaster than ever

The Dallas Cowboys are just days away from kicking off the regular season against the Cleveland Browns on Sunday.

As the final hours tick down, the team is running out of time to secure quarterback Dak Prescott to a long-term contract extension.

Prescott is entering the final year of a four-year, $160 million contract extension he signed in 2021. The negotiations for a new deal have dragged on through the offseason, and a new deal still doesn’t appear to be in place. 

After the conclusion of the preseason, all signs indicated that the upcoming season would be Prescott’s last year in Dallas. However, recent reports have suggested that the possibility of a new deal could still be on the table. The Athletic’s Diana Russini reported that the Cowboys were conflicted about the length of the contract. 

Cowboys could still sign Prescott before regular season

Clarence Hill of DLLS reported on Thursday that the team has made progress with Prescott and that “a deal is closer than it has been.” 

Hill claims that the team is hoping to get something done before Sunday, and he also disputed the claim that the Cowboys were concerned about the contract length.

Prescott put together one of his most impressive campaigns in 2023. The 31-year-old 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). Prescott earned second-team All-Pro honors for the first time in his career and finished second in NFL MVP voting.

The Cowboys have mismanaged Prescott’s contract in nearly every way possible, which has ultimately given the veteran quarterback all of the leverage in negotiations.

Prescott is only the 13th highest-paid quarterback in terms of average annual value, but his $55.1 million salary cap hit is the second-highest in the NFL. That large figure has allowed Prescott to hold the team hostage by restricting their ability to make any significant acquisitions in free agency. 

Prescott’s contract also includes a no-trade clause and prohibits the Cowboys from using the franchise tag designation on him. Without a new deal, he’s guaranteed to become a free agent next offseason. The Cowboys currently don’t have any quarterback under contract for the 2025 season. They attempted to gain some leverage by using backup quarterback Trey Lance, but that preseason experiment blew up in their face. 

Without a new deal, Dallas could find themselves searching for a new franchise quarterback next offseason.