Report: Dak Prescott, Cowboys having ‘open communication’ about long-term contract

Tim Heitman-USA TODAY Sports

With the July 15 deadline fast approaching to get a long-term contract done, the Dallas Cowboys and Dak Prescott are finally communicating.

Contract discussions ongoing between Cowboys and Dak Prescott

There have been numerous reports lately indicating that Prescott and the ‘Boys have not discussed a long-term contract since March.

Contradicting this, former NFL personnel man Bryan Broaddus of 105.3 The Fan, citing numerous sources, said the two sides are having “open communication” and have recently discussed a deal.

Granted, Broaddus and most around the NFL don’t necessarily expect that a contract will get hammered out before the deadline Wednesday. However, news that Prescott and the Cowboys are actively discussing a potential deal is more encouraging than anything that’s come out in months.

How much is Dak Prescott franchise tag worth?

Assuming Prescott ends up sticking with the franchise tender he has already signed, he’ll make $31.4 million in 2020.

Here’s where things get complicated. If the Cowboys don’t ink him to a long-term contract ahead of Wednesday’s deadline, then it is more likely than not Prescott will simply take a second franchise tag in 2021, which would net him $37.7 million guaranteed. Given the fact that the NFL is expected to operate under a flat cap next season due to expected COVID-19-related lost revenue this year, that’s problematic for the Cowboys.

Making things even more tenuous, if the Cowboys were to try and hang onto Prescott in 2022 with a third franchise tender, it would cost the franchise an astonishing $54 million.

That’s why some believe Prescott is all but gone after the 2021 season if Dallas doesn’t ink him to a long-term contract.

Stats show Dak Prescott is a top NFL quarterback

Nobody expects that Prescott would come close to touching the kind of contract Patrick Mahomes inked in Kansas City. However, he’s absolutely worth being paid as much as other top quarterbacks, like Russell Wilson (averaging $35 million per year).

Since being thrust into the starting job as a fourth-round rookie in 2016, Prescott has developed into a star. Last season, he put up nearly 5,200 total yards with 33 total touchdowns and 11 interceptions during a career-best performance. At the age of 26, his value is sky high.