The Dallas Cowboys are going to have to pony up the cash to extend star quarterback Dak Prescott at some point ahead of the new league year opening next month.
Prescott, 30, is set to count a whopping $59.46 million against the 2024 NFL salary cap. With Dallas $3.23 million over the current figure, it needs to become cap compliant.
All of this comes amid various reports that Prescott could very well become the highest-paid player in NFL history. That is to say, earning more than the $55 million Joe Burrow is making annually under his current contract with the Cincinnati Bengals.
Despite having a sense of urgency on this end, it does not appear that Prescott and the Cowboys are close on a new deal.
“I was told that Dallas and Dak Prescott’s reps have not had any substantial talks,” ESPN’s Jeremy Fowler reported recently. “They have not discussed numbers, they could certainly meet at the NFL combine next week though to at least get started to see where each side is at.”
It is definitely a complicated situation between Prescott and the Cowboys. They are coming off a humiliating loss to the Green Bay Packers in the NFL Wild Card Playoffs. After a stellar regular season, Prescott struggled in said loss. That included two interceptions and a pick-six.
Related: Dak Prescott and the NFL’s highest-paid quarterbacks
Dak Prescott stats (2023): 69.5% completion, 4,516 yards, 36 TD, 9 INT
The question here is rather obvious. How much are the Cowboys willing to pony up? They are in between a rock and a hard place. Prescott has all of the negotiating power. He could technically stick it to the Cowboys.
As this entire thing plays out, Dallas also has to consider signing star wide receiver CeeDee Lamb and pass rusher Micah Parsons to long-term contracts. It’s a tricky situation for owner Jerry Jones and Co.