Ian Rapoport reports that the Cowboys are in talks with QB Dak Prescott about a contract extension that would keep him in Dallas for the rest of his career.
Rapoport adds that the two sides have been engaged in conversation for about a month and that the stakes are “as high as they get” with Prescott seeking to become the highest-paid quarterback in NFL history.
On the flip side, if the two sides are unable to reach a deal, Rapoport mentions that Prescott will become the most high-profile free agent in the NFL after the season.
Prescott is entering the final year of his contract and he has massive leverage once again over Dallas. Prescott has a no-trade clause and because he’s been franchised twice by the Cowboys, a third would be prohibitively expensive.
That means Prescott has a path to unrestricted free agency if he wants to take it, and it means his camp has the leverage to push Dallas for a major, market-setting extension well above the current high-water mark of $55 million per year.
Prescott, 31, is a former fourth-round pick of the Cowboys back in 2016. He played out the final year of his four-year, $2.72 million contract and was in line to be an unrestricted free agent in 2020 when Dallas placed the franchise tag on him.
The following offseason, Prescott signed a four-year, $160 million contract that included $126 million guaranteed. The contract can top out at $164 million.
He’s entering the final year of that contract and set to make a base salary of $29 million in 2024. Prescott will be an unrestricted free agent in 2025.
In 2023, Prescott appeared in all 17 games for the Cowboys and completed 69.5 percent of his passes for 4,516 yards, 36 touchdowns, and nine interceptions. He added 55 carries for 246 yards and two touchdowns.
We have him included in our Top 100 – 2025 NFL Free Agents list.
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