The top priority for the Dallas Cowboys this offseason is to finalize a contract extension with quarterback Dak Prescott. This move would reduce his cap hit, giving the team more financial flexibility. According to Joel Corry, a former NFL agent and current CBS Sports analyst, Prescott is poised to land a groundbreaking new deal that could reset the quarterback market.
Currently, Prescott’s cap hit stands at $59.4 million, contributing significantly to the Cowboys being over the cap by $16.12 million. The urgency to negotiate a new deal intensifies with the upcoming start of the new league year and free agency.
Corry suggests that if Prescott and his representatives are given the freedom to negotiate as they see fit, the resulting contract is likely to make him the highest-paid player in the league. This would set new benchmarks for key contract metrics, potentially surpassing the $230 million fully guaranteed contract of Deshaun Watson.
Given that Prescott has only been able to secure two playoff wins, he is expected to use the recent mega-extensions of rising young stars like Lamar Jackson, Jalen Hurts, Joe Burrow, and Justin Herbert to his advantage during contract negotiations.
Despite the fact that Prescott has not led the Cowboys to a Super Bowl, his performance in 2023, where he was in the MVP conversation, has increased his value. With the scarcity of top-tier quarterbacks in the league, the Cowboys are facing significant pressure to compensate Prescott accordingly in order to keep him on the team.
The outcome of Prescott’s contract extension will have a substantial impact on the Cowboys’ ability to build a competitive roster around him, particularly with impending contract negotiations for players like wide receiver CeeDee Lamb and pass-rusher Micah Parsons.
