The Dallas Cowboys and Dak Prescott are ready to play out the final year of his contract.
Dallas and Prescott agree that his contract will not be adjusted entering the 2024 season, per a report by NFL Network Insider Ian Rapoport.
It was assumed the Cowboys would extend Prescott’s contract this offseason to reduce the massive salary cap figure. However, the club and Dak found it best to play out the deal and figure things out on the other end of the campaign.
Early this month, Dallas converted a $5 million roster bonus into a signing bonus, scrapping $4 million off Prescott’s salary cap figure. That number is still a staggering $55.445 million. They also added two extra void years through 2028.
Prescott signed a four-year $160 million contract in 2021, no-trade and no-tag clauses. With no extension forthcoming, Dak is on his journey to free agency in 2025. If the Cowboys do not sign him to an extension, he would still count $40.46 million against the 2025 salary cap.
In 2021, Prescott had all the leverage after Dallas used back-to-back franchise tags on the quarterback. This leverage allowed him to negotiate a shorter, four-year deal than the five-year pact the Cowboys wanted. Due to this massive cap number, Prescott still has a ton of leverage. Instead of succumbing to this power, the team is content with letting things play out.
There is still time for both sides to iron out the details, and owner Jerry Jones does not seem concerned about the future, saying Tuesday, “We are where we are. We have our contract. We’re locked and loaded for this year, and we can see as we move along how we are thinking.”
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