The Dallas Cowboys are positioning themselves to give quarterback Dak Prescott the highest salary in the league while he is having one of his best seasons in the NFL. And doing so makes perfect sense for them.
Once more, that moment has come. The quarterback for the Dallas Cowboys, Dak Prescott, is hoping to have his contract extended.
This angle, which has been covered extensively by Mike Fisher of CowboysSI.com over the past year, is now receiving more momentum according to a recent story from our colleague Jordan Schultz, who is providing a significant new estimate for the potential APY. Schultz is projecting $60 million, whereas Fish has written about $50 million.
However, nothing really surprising has happened here.
Thanks to a five-year, $275 million contract deal he received in September, Cincinnati Bengals quarterback Joe Burrow presently holds the distinction of “highest-paid.” The Cowboys will probably pay Prescott between $55 and $60 million APY to get above that.
Anyone who has closely followed the Cowboys’ contract and salary cap issues over the past few years shouldn’t be surprised by Schultz’s revelation. The plan had always been to extend the deal.
Anyone who has closely followed the Cowboys’ contract and salary cap issues over the past few years shouldn’t be surprised by Schultz’s revelation. The plan had always been to extend the deal.
As of right now, Prescott’s cap hit is expected to occur in March at a budget-handicapping $59 million. This would imply that even if the Cowboys were unsure about Prescott, they would either a) have to move heaven and earth to be able to cut him before the end of his contract or b) stick with him as a lame duck for the final stretch of the season while taking a financial hit that would prevent them from making many other roster moves.
However, for those inside The Star in Frisco, that “non-committal” feeling is far from accurate. Prescott is having his greatest season as a Cowboy right now, following an exceptionally turnover-filled 2022 campaign. With thirty throwing touchdowns, the former fourth-round pick is in first place. He has passed for 3,892 yards with just seven interceptions.
Thanks to his impressive play, Prescott has established himself as a contender for the league’s Most Valuable Player title and may set the standard for a potentially market-defining new contract.
All things considered, signing Prescott to a second long-term agreement is not just non-surprising for a team that is determined to end their 28-year NFC Championship drought…
It also makes perfect sense.
The alternative is far worse, even though many will wonder if Prescott is worth the market-setting sum that the Cowboys are prepared to spend. Until and unless Dak and Dallas win a Super Bowl, the “worth-it” issue will remain valid.
The Cowboys would be severely limited in their ability to re-sign other important players like Micah Parsons and CeeDee Lamb, both of whom will require contract extensions in the near future, in addition to being stuck with a $59 million cap charge and uncertainty around Prescott.
Fish questioned Cowboys owner Jerry Jones last spring over the nature of the extension plan: was it related to Dak’s play or his cap hit?
“Both,” the proprietor answered.
The APY is increasing. But in any other case? The logic of “both” has remained the same.