The Dallas Cowboys made quarterback Dak Prescott one of the highest-paid NFL players in 2021 with a lucrative four-year contract worth $160 million. Just a few years later, Dallas could once again make Prescott one of the highest-paid NFL quarterbacks.
Prescott, a two-time Pro Bowl selection, has been a top-10 quarterback in the NFL since entering the league. Now, with Dallas focused on keeping its young core together long-term, the 30-year-old quarterback’s future in Texas is reportedly a near certainty.
- Dak Prescott contract: $26.832 million cap hit in 2023, $59.44 million cap hit in ’24
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ESPN’s Dan Graziano recently wrote NFL quarterback predictions for 2024. Relating to the Cowboys, he believes a contract extension will happen with the note that he hasn’t found any reason to believe Dallas would ever let its quarterback leave the franchise based on his recent level of performance.
“Absolutely not one concrete reason to believe the Cowboys won’t extend Prescott’s contract at some point.”
Dan Graziano on the possibility of a contract extension for Dak Prescott
Prescott is coming off one of the worst seasons in his career. He posted the second-lowest quarterback rating (91.1) since he became a starter and threw a career-high in interceptions (15) this past season. Despite the issues, Dallas wants him to be its long-term quarterback.
There’s another incentive for Dallas to reach a resolution with Prescott. He carries a cap hit of nearly $60 million in 2024, a figure that isn’t financially viable for a team that has to pay Trevon Diggs, CeeDee Lamb, Zack Martin, Tony Pollard and Micah Parsons.
Any contract negotiations with Prescott will likely start at a $50 million average annual salary. While it would be at least $10 million more per season than he made in his current contract, NFL revenue is exploding and the going rate for franchise quarterbacks is now $50-plus million per season.
- Dak Prescott stats (2022): 91.1 QB rating, 23-15 TD-INT, 66.2% completion rate, 2,860 passing yards, 7.3 yards per attempt in 12 games
The asking price will likely force the Cowboys to make some difficult decisions in 2024, parting ways with several key contributors. It’s another reason why the 2023 season is so important for Prescott and the coaching staff.
