Latest On Dak Prescott Contract Talks With Cowboys

When reflecting on Cowboys QB Dak Prescott‘s contract negotiations, Dan Graziano of ESPN writes he wouldn’t be surprised to see Prescott receive a long-term extension at some point this week.

Graziano reports he’s gotten “more optimistic responses” from his sources over the past couple of days.

Should Prescott decide to sign a deal, Graziano could see the contract falling short of the $60 million-plus annual salary range that’s projected if he hits free agency. In the end, Graziano reiterated he gets a sense negotiations could be finalized before the start of the regular season. 

However, ESPN’s Jeremy Fowler cites a source with direct knowledge of the situation who said it is “looking like free agency at this point” for Prescott given negotiations haven’t intensified to a critical level with just four days before the season starts. 

Fowler points out that Prescott is represented by Athletes First, which finalized four-year deals for Dolphins QB Tua Tagovailoa and Packers QB Jordan Love, and could bring another four-year deal for Prescott. 

There has been some speculation that the length of Prescott’s deal is something holding back contract talks at this point. Despite this, Clarence Hill Jr. reports contract length is not a sticking point on the quarterback’s prospective deal. 

Earlier this week, Ian Rapoport reported that the Cowboys are in talks with 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.

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.