A number of contract disputes hung over the Dallas Cowboys' preseason, but the headlining concern is Dak Prescott. The Cowboys' quarterback is eligible to hit free agency next summer and the Cowboys have made very little progress on extension talks.
To make matters worse, the QB market was completely upended over the summer. Lamar Jackson, Justin Herbert, Jalen Hurts, and now Joe Burrow all signed deals worth north of $50 million annually. Burrow's new deal — five years, $275 million — sets a new NFL record. There has never been a better time for even decent QBs to get paid like stars.
Prescott caught the early wave of a rising market when he signed a four-year, $160 million deal ahead of the 2021 season. That's an annual average of $40 million, a respectable number for Prescott. But he probably wants more, and the Cowboys run the risk of a nasty breakup if contract talks go south.
Don't expect Prescott to sign a cushy new deal any time soon, though. Cowboys owner and GM Jerry Jones made sure to set expectations in a recent press event.
Jerry Jones, Dallas Cowboys don't plan to extend Dak Prescott's contract this season
That's a cut and dry statement from Jones. The Cowboys are not going to extend Prescott before the end of the season, when he's eligible to become a free agent. There is considerable risk there for the Cowboys, whose best in-house replacement is the chronically-unproven Trey Lance.
Prescott could simply honor the fourth and final year of his contract, but his cap hit for next season balloons to $59.5 million. That could have dire effects on Dallas' cap sheet. The Cowboys would surely prefer to restructure Prescott's contract and decrease that number, but the only incentive for Dak to do so is a considerable raise.
As Mike Florio of NBC Sports puts it, Prescott has Jones and the Cowboys in 'contract checkmate.'
"The team's desperation to shrink that number gives Prescott incredible leverage," writes Florio. "He can simply say to the team, "I'll honor my contract," allowing cap-number nature to take its course. And if Jones wants Dak to reduce that figure for 2024, Dak can say, for example, "Make me the highest-paid player in the NFL.'"
Prescott has earned the Cowboys' faith in his talent, but there's also reason to doubt his worthiness for a contract at or exceeding Burrow's splashy high-dollar value. Prescott threw a league-high 15 interceptions last season, despite missing five games due to injury. His other numbers were solid — 2,860 yards and 23 touchdowns on a 66.2 completion percentage — but his accuracy wavered in a way we haven't seen since his NFL debut in 2016.
He's due for a bounce-back campaign with a talented group of receivers and the Cowboys' typically strong offensive line protecting him, but Prescott's also under a fair amount of pressure. If the Cowboys are willing to play dirty and not extend him, then it's easy to read the Lance trade as a message: play well, or we'll let somebody else pay you. Prescott would have more than his share of suitors around the NFL, but it's telling that Jones is taking such a hardline stance despite the leverage disadvantage Florio lays out.
For now, all Prescott can do is focus on winning games. The Cowboys will debut on Sunday Night Football against the New York Giants this weekend, Aug. 10 at 8:20 PM E.T. Perhaps Prescott comes out with a bang and makes a statement. There's no doubt Jones would rather focus his resources on depth, but are four extra depth pieces worth potentially losing your franchise QB?
Probably not. That is, unless you're a big believer in Trey Lance.
