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Dallas Cowboys committed to Dak Prescott, open to contract extension

Despite his Dallas Cowboys winning 12 games and earning that rare playoff victory, the 2022 season did not go too swimmingly for Dak Prescott.

Prescott led the NFL in interceptions with 15 during the regular year. He was able to accomplish that feat while missing five games to injury.

In Dallas’ NFC Divisional Playoff loss to the San Francisco 49ers, Prescott threw another two interceptions. It was an ugly end to an odd off year for the two-time Pro Bowl quarterback.

At least on the NFL rumor mill, this led to speculation that Dallas could attempt to trade Prescott and find an upgrade at quarterback. Tom Brady was an option until he recently retired. Four-time NFL MVP Aaron Rodgers remains an option.

It doesn’t look like any of this is going to happen. According to Calvin Watkins of the Dallas Morning News, Cowboys CEO Stephen Jones says that the team is committed to Prescott long-term. In fact, Dallas is willing to discuss a contract extension with the embattled quarterback.

There’s a few different things that come to mind here. First off, Prescott’s down 2022 season doesn’t discount what hes done in the past.

After all, the Cowboys are 61-36 with Prescott as their starter since he joined the team as a fourth-round pick back in 2016. Secondly, the limited number of options available to Dallas made it a strong likelihood that the team would retain Prescott.

Related: Dak Prescott and the NFL’s highest-paid QBs of 2023

Dak Prescott contract extension would lower Dallas Cowboys salary cap

dak prescott contract
Kyle Terada-USA TODAY Sports

That’s a major backdrop to Jones’ comments from Wednesday. As of right now, Prescott has a cap number of $49.13 million for the 2023 season. That’s not sustainable with Dallas currently $7.6 million over the cap.

The Cowboys would save in the neighborhood of $22 million by restructuring Prescott’s deal. It could save even more if an extension is agreed to, with Prescott pushing back larger cap hits to future years while earning more guarantees.

  • Dak Prescott contract: 4 years, $160 million w/ $126 million in total guarantees

Signed back in March of 2021, Prescott’s deal runs through the 2024 season with void years in 2025 and 2026. In addition to his large cap hit in 2023, Prescott is slated to count $49.13 million against Dallas’ overall figure in 2024.

By removing the void years and adding more seasons to his current deal, both cap numbers would decrease significantly.

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