Dak Prescott: The Expensive Dilemma of the Dallas Cowboys

Dak Prescott and the Dallas Cowboys find themselves in a precarious situation of unprecedented nature. It is rare for a quarterback of his caliber and age to enter free agency, but this seems increasingly likely with each passing day without a new contract. Prescott had a career year in 2023 and ranks ninth in Mike Sando's "Quarterback Tiers," based on the opinions of league executives and coaches. At 32 years old and showing no signs of declining performance, Prescott is in an enviable negotiating position. Since his first contract extension in 2019, which came after a two-year negotiation process, Prescott has skillfully wielded his leverage. Represented by "Athletes First," the player secured a four-year contract worth $160 million, with $126 million guaranteed, and induced the Cowboys to franchise tag him a second time, making a third tag nearly impossible. Technically, the Cowboys should have extended Prescott this offseason, but owner and General Manager Jerry Jones would have to be ready to fundamentally redefine the market. The pressure on Jones is significant, as Prescott, should he not sign a contract this season, would likely become the highest-paid player in the league in the next free agency. A former general manager told "The Athletic" that Prescott would only accept a "crazy" deal. Such a contract could be four years and $240 million, bringing Prescott $60 million per year. Compared to other top quarterbacks like Joe Burrow, Jordan Love, and Trevor Lawrence, who earn an average of $55 million per year, this would be a reasonable amount. Concerns about Prescott's mixed playoff record might give Jones pause. His 2-5 record in the postseason could argue against a market-shifting contract, even though Prescott has performed better than average in the playoffs overall. However, the Cowboys have other costly commitments, such as the upcoming contracts of Micah Parsons and Tyler Smith. The Cowboys are one of the most cash-rich teams in the NFL, as Forbes data shows: With a revenue of $1.1 billion last year, they lead the ranking. Nonetheless, Jones has the reputation of being more conservative in spending compared to other franchises. Whether the Cowboys could achieve significant financial advantages and a stronger on-field position through strategically earlier payments remains to be seen. It remains exciting to see how the Dallas Cowboys will resolve this dilemma and whether Prescott will rise to new or existing heights.