The Dallas Cowboys and Dak Prescott are gearing up for the final year of the quarterback’s contract without any adjustments anticipated, according to NFL Network Insider Ian Rapoport, citing sources familiar with the situation.
Previously, the Cowboys were expected to negotiate an extension with Prescott during this offseason to mitigate the significant salary cap impact. However, both the team and the quarterback have opted to maintain the existing agreement and address future plans after the 2024 season.
Earlier in the month, the Cowboys restructured Prescott’s contract by converting a $5 million roster bonus into a signing bonus, thereby reducing his salary cap hit by $4 million. Nevertheless, his cap figure remains substantial at $55.445 million despite adding two void years extending through 2028.
Prescott inked a four-year, $160 million deal in 2021, featuring clauses preventing trades and tags. Prescott is headed towards free agency in 2025 with no extension on the horizon. If Dallas fails to secure a new deal for him, he would still count as a hefty $40.46 million against the 2025 salary cap.
2021 Prescott held considerable leverage after the Cowboys utilized consecutive franchise tags on him, resulting in negotiations for a shorter contract term than the team preferred. Given his considerable cap hit, Prescott’s leverage remains significant. However, instead of succumbing to this pressure, the Cowboys appear comfortable, letting the situation unfold.
On Tuesday, owner Jerry Jones expressed a calm outlook, stating, “We are where we are. We have our contract. We’re locked and loaded for this year, and we can see how we are thinking as we move along.”
Looking ahead, the upcoming offseason in Dallas could be eventful, with Prescott poised to become a free agent.
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