NFL Rumors: Cowboys Showing Limited Enthusiasm in Pursuit of Dak Prescott Contract Extension

The Dallas Cowboys’ approach to retaining Dak Prescott for the long term seems puzzling at best.

During a segment on Saturday’s SportsCenter, ESPN’s Jeremy Fowler revealed that the Cowboys have been relatively passive in their negotiations for a contract extension with their star quarterback:

“A source within the team informed me that the notion of the Cowboys not being interested in keeping Dak Prescott beyond 2024, when he’s set to become a free agent the following year, is inaccurate. They maintain a strong belief in him and desire to secure him for the long haul. However, their efforts towards a contract extension thus far have been rather subdued. With Prescott carrying a hefty $61 million cap hit this year and lingering dead money concerns for next year, he holds considerable leverage in these negotiations. While this situation will eventually unfold, the Cowboys are committed to allocating funds, including towards re-signing key players, with Prescott being among them.”

Criticism has been leveled at the Cowboys for their lack of activity in free agency this offseason. Their signing of Eric Kendricks to a one-year deal on March 13 marked their first external free agent acquisition, making them the last team to make such a move.

Despite speculation that Prescott might either restructure his current contract or sign an extension to alleviate his 2024 cap hit, facilitating greater flexibility in free agency, the Cowboys’ action has been limited. A restructure did occur on March 18, converting a $5 million roster bonus into a signing bonus and extending two void years onto Prescott’s contract, resulting in a $4 million cap space clearance.

In discussions with reporters on March 14, Cowboys executive vice president Stephen Jones confirmed talks with Prescott regarding a new deal. Prescott himself has expressed optimism that an extension will materialize in due course.

However, the prolonged negotiations potentially bolster Prescott’s leverage, given the absence of a franchise tag clause in his current contract, granting him the opportunity to become an unrestricted free agent next offseason.

Meanwhile, the Cowboys have other key players, such as CeeDee Lamb and Micah Parsons, eligible for extensions this offseason. Lamb, entering the final year of his rookie deal, is likely a higher priority at present, while Parsons’ contract extends through the 2025 season.

Prescott’s departure after the upcoming season would pose significant challenges for the Cowboys on multiple fronts. Not only would they lack a clear upgrade at quarterback on their roster, but they would also face financial ramifications, with a $40.5 million dead-cap charge from a void year in 2025.

Prescott’s standout performance last season, with 4,516 passing yards and an NFL-leading 36 touchdowns, underscores his importance to the team’s success. Finishing as the runner-up in MVP voting and earning a spot on the All-Pro second team further solidifies his value to the Cowboys.

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