Will renewed talks with the Dallas Cowboys lead to a record deal for Dak Prescott?
Barring a special circumstance, free agency is pretty much over for the Dallas Cowboys, a source has said.
In addition to re-signing several of their own free agents, led by receiver Amari Cooper’s five-year, $100 million deal, the team has added three new starters in defensive tackle Gerald McCoy, nose tackle Dontari Poe and safety Ha Ha Clinton-Dix while shoring up depth with tight end Blake Bell and cornerback Maurice Canady.
So the Cowboys have now turned their attention back to what they said was going to be their biggest focus of the offseason: signing quarterback Dak Prescott to a contract extension.
According to a source, the Cowboys have not only resumed talks with Prescott and his representative Todd France but already have presented him with a new offer that would make him the richest player in franchise history and possibly the highest-paid player in the league.
When the Cowboys put the exclusive franchise tag on Prescott on March 16, it was after he turned down an updated offer of at least $34 million annually. He had turned down a deal for $33 million annually with $105 million in guarantee money last September.
So any new offer would likely need to match or exceed Seattle Seahawks quarterback Russell Wilson’s league-leading $35 million annual salary.
Contract length remains a big sticking point in negotiations, with Prescott preferring a four-year deal and the Cowboys wanting five years or longer to help spread out the bonus money and lower the cap figure throughout the contract.
While Prescott still holds most of the leverage, the Cowboys are hoping the dwindling franchise tag might help spur a deal.
Due to contract restructures around the league, the exclusive franchise tag for quarterbacks, which is the average of the top five players at the position, has been reduced to $28.6 million, according to a source. Prescott is currently counting $26.8 million against the cap. The final franchise tag value will be determined April 17.
It was one thing to turn down $34 million annually when the tag was expected to be $32 million. But if it’s $28.6 million, Prescott is leaving a lot of money on the table, especially with the increase with the updated offer.
The Cowboys have until July 15 to sign Prescott to a long-term deal or he will have to play the 2020 season on the franchise tag.
This story was originally published March 26, 2020 at 6:30 AM.
