The Green Bay Packers and Miami Dolphins became the latest teams to lock in their franchise quarterbacks, signing Jordan Love and Tua Tagovailoa to recent four-year, $210-plus million extensions.
Earlier in the offseason, the Jaguars did the same with Trevor Lawrence (five-year, $275 million) and the Lions with Jared Goff (four-year, $212 million).
But the Dallas Cowboys have been dragging their feet when it comes to Dak Prescott and, in turn, now face a situation in which Prescott has all the leverage.
Prescott has no-trade, no-tag clauses in his contract. And if he puts together a similar season in 2024 to what he did in 2023, his true market value will be in a different stratosphere.
This is a quarterback who is entering the prime of his career, coming off a season in which he was the NFL’s MVP runner-up. Prescott, celebrating his 31st birthday Monday at training camp, had a career year in 2023, throwing for 4,516 yards and leading the league in completions (410) and touchdown passes (36).
What is that worth on the open market? Perhaps $60 million a year? Maybe more?
If Prescott wants to find out, he has the luxury to do so.
If you’re Prescott, that may be enticing.
He publicly stated a few days ago that playing for another team is not something to “fear.” The NFL is a business, Prescott reminded reporters, and things are always subject to change, including the logo on your uniform.
“I want to be here, but when you look up all the great quarterbacks I watched, they’ve played for other teams,” Prescott said at training camp, via the Fort Worth Star-Telegram. “So, my point in saying that is that that’s not something to fear. That may be a reality for me one day.”
However, make no mistake about it: Prescott has repeatedly stated his love and desire to remain with the Cowboys. That’s the preference. But the Cowboys have let the situation reach the point where Prescott is talking about great quarterbacks who switched teams over the years, ranging from Drew Brees to Tom Brady to Peyton Manning.
If the Cowboys were proactive, they wouldn’t be in this situation. In a quarterback-hungry industry, the prices are only going to increase with each new deal. There is not going to be a discount or Black Friday special on franchise quarterbacks, and the Cowboys should know this better than anybody.
The Cowboys went through a similar ordeal in reaching Prescott’s current deal. It took almost two years before the sides reached a four-year, $160 million extension prior to the 2021 season. That deal has Prescott counting $55.1 million against the salary cap this season and another $40-plus million in dead money against the Cowboys’ cap next season.
At the end of the day, Prescott has the power in this negotiation, but the Cowboys should figure out a way to make it work. Owner Jerry Jones has raved about Prescott, recently saying Prescott is the “best leader I’ve ever seen,” according to the team’s website.
Most importantly, Prescott gives the Cowboys their best chance of winning on Sundays. Yes, Prescott has not had much success in the playoffs, and the quarterback is always the poster child for that failure. But this franchise has not reached the NFC Championship game since the 1995 season. There’s plenty of blame to go around.
If there’s any hope of seeing that drought end, the Cowboys need a franchise quarterback. And Prescott is just that—something that Jones is well aware of. That’s why the Cowboys and Prescott’s agent, Todd France, continue their extension conversations.
“Make no mistake about it,” Jones said. “We’re talking.”
