There are officially less than two weeks left until the NFL's new league year begins. This is important. When the clock strikes midnight and the new year begins, all agreed contracts will become official and players will settle into new teams (like free agents finding new homes). We all want the Dallas Cowboys to shine in this part of their yearly roster construction, but while it seems tough to do so, in order for them to move even closer to going “all in,” they must will have to be achieved. Decisions regarding quarterback Dak Prescott.
Dak's cap number is just south of $60 million at the moment, which is a tough pill to swallow, even in a world where the salary cap is $255.4 million. Dallas will have to do something somehow, whether it's restructuring Prescott's current contract or extending him to a new one, given the schedule if something like that happens. You'll need to do that. Pretty quickly.
Spotrac expects Dak Prescott contract extension to be worth 3 years and $180 million
The $60 million figure is often thrown around when talking about a potential extension for Prescott, given that Cincinnati Bengals quarterback Joe Burrow currently leads the league at $55 million per year. It seems logical that $60 million will be the next increase (and it could be somewhere just below this amount when it all boils down to that).
But the folks at Spotrac believe this is more than just a feeling. Recent projections regarding Prescott's contract extension have him expected to reach that goal with a three-year deal.
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First and foremost, this would reduce the salary cap by $18 million this year (similar to the current contract restructuring). It would also give him some incredible cap hits over the next few years, helping the Cowboys get back on track and kick off into their 30s with Prescott leading the team at quarterback.
From an AAV perspective, this is on par with how things tend to go at the quarterback position. That it's called a three-year deal is an interesting way to frame this considering 2028 is a gap year, which they explained in the article.
The Cowboys have several options with Dak Prescott, but the most likely outcome would be signing the 31-year-old to a contract extension this offseason. We weren't shy about this, making Prescott the first player to earn $60 million per year in average entry value. In total, over four years, he is expected to contract for $214 million, of which $169 million is guaranteed for practical purposes and $119 million of which is fully guaranteed at signing. Prescott will earn a historic $75 million signing bonus and his 2024 cap number will drop from $59.4 million to $41.6 million.
Needless to say, this is an important decision for the Cowboys, and it may partially explain why it took them so long to make it. This is Prescott's second contract extension with the team, and an incredible amount of cash going directly to him. Being a quarterback in the NFL these days is beneficial.
Considering the time period involved, this deal still gives the Cowboys time to move on from Prescott if they wish once he's in his mid-30s, and for three years from 2025 to 2027. It will be a period where he can work with a new head. He will be the coach if the team moves on from Mike McCarthy after this season.
