Prescott is in the final year of his four-year deal worth $160 million.

The Dallas Cowboys’ intentions to sign quarterback Dak Prescott to a long-term extension in the off-season seem to have fallen apart. The team recently restructured his contract by reducing the salary cap hit. By converting a $5 million roster bonus into a signing bonus, the Cowboys have managed to reduce the cap hit by $4 million to a little over $55 million.

The best way for the Dallas Cowboys to improve upon their salary cap issues would be to sign Dak Prescott to another long-term extension. But a recent report from PFT indicates that Jerry Jones is not going to let the fear of losing his franchise quarterback to free agency corner him into paying his quarterback more than he would like to.

Prescott is undoubtedly the one with the upper hand in these negotiations. He is just coming off of an MVP-caliber season where he has established the fact that this offense cannot run without him. If he decides to test the waters of free agency, there are no shortages of teams in dire requirement of a quarterback. The Cowboys ought to have finalized a deal with Prescott immediately after the season ended.

The Dallas Cowboys have restructured Dak Prescott’s contract for his final season

But after Kirk Cousins was offered a massive extension by the Atlanta Falcons, who will be paying him an estimated $45 million per year, Prescott would be reluctant to agree to anything less than his current maximum yearly sum of $55 million. The extension negotiations will begin in the range of $55-60 million per year. Anything below that is likely to lead Prescott to walk out of the room.

Dallas Cowboys quarterback Dak Prescott (Image via IMAGO)
The Dallas Cowboys have made it clear that they are all-in on Prescott. But at the same time, the team is treading carefully, as they have to deal with the free agency of fellow stars like Micah Parsons and CeeDee Lamb. With all of their key stars’ futures at stake, the Dallas team will not be able to keep everyone happy. One of the stars is bound to be left underpaid, the question is if they will opt to stick with the team or test free agency.

The offseason has been relatively quiet for America’s team as they have signed linebacker Eric Kendricks to a one-year deal worth $3.5 million after Leighton Vander Esch announced his retirement from the game. Dallas cannot franchise tag Prescott and the more interesting question is if the quarterback does become a free agent, how much would other teams be willing to offer him?