Dallas Cowboys quarterback Dak Prescott will enter a contract year in 2024-25. In many ways, this is an all-in type of year for not only Prescott, but many of the Cowboys' key players. The hopes in Dallas are Super Bowl or bust, and the pressure is on Prescott to finally achieve some much-needed postseason success.
According to NFL Network's Ian Rapoport, Prescott and the Cowboys have a mutual understanding regarding his current contract situation. There is no indication that a new contract will be in place for Prescott any time soon, which opens the door for him potentially testing free agency territory next offseason.
One of the key questions Prescott will have to answer next season is how he will play in the postseason. Will Prescott, who has a 2-5 record with two recent significant turnovers against the Green Bay Packers during wild-card weekend, be able to silence the opposition? There's immense pressure on Prescott's plate to deliver. The Cowboys' current opportunity with Prescott remains open, but can the Cowboys' current QB1 ultimately deliver?
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There's no denying that Prescott is a top-10 quarterback. After throwing 36 touchdowns, including a career-high quarterback rating of 105.9, and just nine interceptions, Prescott's camp would be wise to approach Dallas about a possible extension. Dallas, on the other hand, would be wise to wait this season to see how Prescott fares in the 2024-25 season.
We'll explain how the current structure of quarterback contracts has led to new media rights deals and exploding salary caps, meaning big guaranteed money and huge annual salaries. Prescott has cash available next offseason, but the big question remains whether Dallas will pay it.
Prescott currently makes $40 million a year, but elite quarterbacks currently have contracts worth more than $50 million a year. So far, four signal callers have signed contracts worth up to $50 million: Joe Burrow, Justin Herbert, Lamar Jackson and Jalen Hurts. Patrick Mahomes will soon be joining this list as he rebuilds himself for an eventual new record-setting contract. Is Prescott currently in this class of quarterback? That's the real question the Cowboys need to ask themselves before committing more than $250 million, likely total.
The best scenario for both parties here may be to compromise somewhere in the middle. I think Prescott would be comfortable at less than the $50 million per year mark, but what about around $45 million? Especially with record contracts looming for CeeDee Lamb and Micah Parsons, Dallas Would Prescott be approached about paying him out of his current salary to stay long-term?
These are questions that will loom all season long for Dallas and Prescott, but the answers will be revealed in real time on the field.
