This move comes as expected, as it was reported Prescott planned to sign his tender by today.
Prescott will make $31.4 million fully guaranteed for the 2020 season under the exclusive franchise tag.
The two parties have until July 15th to work out a long-term extension or Prescott would, once again, be in line to be an unrestricted free agent in 2021.
While this precludes any kind of holdout from Prescott, it does not indicate a long-term deal is any closer. Both sides remain hung up on the length of the deal, with Dallas offering five years and Prescott refusing to consider anything longer than four.
Prescott, 26, is a former fourth-round pick of the Cowboys back in 2016. He’s entering the final year of his four-year, $2.72 million contract and was in line to be an unrestricted free agent this offseason.
In 2019, Prescott appeared in all 16 games and completed 65.1 percent of his passes for 4,902 yards, 30 touchdowns and 11 interceptions. He has also rushed for 277 yards and three touchdowns for Dallas. Pro Football Focus rated him as the No. 10 quarterback out of 37 qualifying players.
We’ll have more regarding Prescott and the Cowboys as the news is available.