A report this past weekend indicated that a Dak Prescott contract extension this offseason is no sure thing. It was a surprise given Prescott’s cap number for the 2024 season and all of the rumors leading to an extension for the Dallas Cowboys’ star quarterback.
In addressing his contract situation recently, the reigning NFL MVP runner-up indicated that something could very well be on the horizon.
“I’m definitely confident, obviously it helps the team and it’s important for the numbers. I’ve heard Jerry say that. This is a process, both sides understand that. Everything is great. It will happen,” Prescott said, via Calvin Watkins of the Dallas Morning News.
Prescott, 30, is set to enter the final year of his current contract. Dallas does not have the capability of placing the franchise tag on him next March, making an extension all that more important for the team.
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Dallas Cowboys facing deadline for Dak Prescott contract extension
NFL free agency and the new league year opens up on March 13. That gives Dallas roughly a week to get something done on the Prescott contract front. As of right now, he’s set to count a whopping $59.45 million against the 2024 NFL salary cap. That’s just not viable.
As for Dallas, it is currently $4 million over the cap. The team needs to become cap compliant by the 13th. The easiest way to do that is to sign Prescott to an extension.
Meanwhile, CeeDee Lamb is also entering the final year of his rookie deal. He’ll need to be extended. The same goes for Micah Parsons, who is eligible for an extension for the first time in his career this offseason.
Any new Prescott contract would likely make him the highest-paid player in NFL history. Some projections have him earning $60-plus million annually.