Dak Prescott to sign contract extension with Dallas Cowboys before deadline?

Dec 29, 2019; Arlington, Texas, USA; Dallas Cowboys quarterback Dak Prescott (4) warms up before the game against the Washington Redskins at AT&T Stadium. Mandatory Credit: Tim Heitman-USA TODAY Sports

The Dallas Cowboys have been hoping to sign star quarterback Dak Prescott to a contract extension for over a year. While negotiations have gone quiet in recent weeks, it might only be a matter of time before Prescott signs on the dotted line.

Dak Prescott expected to sign a contract extension before deadline

After the Dallas Cowboys placed the exclusive franchise tag on Dak Prescott in March, they started the clock on contract negotiations. While Prescott hasn’t signed the one-year tag yet, the Cowboys will have until July 15 to sign the Pro Bowl quarterback to a long-term contract.

Sports Illustrated’s Albert Breer said in a mailbag this week that he thinks Prescott will wait until the deadline before signing an extension. While negotiations have been rocky at times, the organization is determined to keep him in Dallas for years to come.

Both sides are currently in a stalemate with their contract discussions, but only one significant hurdle remains. Prescott wants a four-year contract, which would allow him to hit free agency in his prime, and the Cowboys are insisting on a five-year deal.

Dallas Cowboys could make Dak Prescott NFL’s highest-paid player

While it’s been some time since both sides had earnest discussions, the Cowboys are willing to open up the checkbook for their star. Owner Jerry Jones is reportedly prepared to make Prescott the highest-paid player in NFL history with a deal that will reset the quarterback market.

Currently, per Over the Cap, Seattle Seahawks quarterback Russell Wilson leads the NFL with his deal. Wilson has the NFL’s highest average annual salary ($35 million) and ranks second in total contract value ($140 million).

Prescott will likely push to best that mark before he finally signs on the dotted line. The question will be whether his historic contract sets the new mark for annual salary or also surpasses Matt Ryan’s total contract value ($150 million). If he agrees to a five-year contract, Prescott will likely shatter both records.

Dak Prescott’s stats show he deserves a massive contract extension

The Dallas Cowboys could have saved countless millions if they signed Prescott last offseason. Instead, Jerry Jones prioritized Ezekiel Elliott and now the organization must open the vault to give the franchise quarterback an even larger deal.

Simply put, Prescott deserves a record-setting contract and should stick to his guns in negotiations. Coming off a season with 4,902 passing yards, 33 total touchdowns and a 99.7 quarterback rating, Prescott proved he is a phenomenal player.

The Cowboys upgraded his receiving corps this offseason with CeeDee Lamb and hiring Mike McCarthy as head coach should take this team to another level. Dallas would be better off giving him $36 million per year now on a four-year deal than waiting a year, when his price could approach $40 million after Patrick Mahomes and Deshaun Watson reset the market.