Dak Prescott gets bad news on contract extension as Cowboys owner Jerry Jones flip-flops on "all-in" stance
Don't expect a contract extension for Dak Prescott. It's a contract year for him, and there were early talks of an extension along with an "all-in" promise from Jerry Jones. The Dallas Cowboys have been almost totally silent this offseason, and that is going to stay consistent with no new deal for Prescott.
Jerry Jones indicated to Ian Rapoport, NFL reporter, that there was no contract coming:
"We are where we are, locked and loaded for this year."
That means that Prescott will undoubtedly have to play this season under the stress of looming free agency. Despite some playoff missteps, the Cowboys have said that they're committed to the QB and were planning to extend him.
They were also planning to add on to a roster that earned the number two seed in the NFC, but neither of those things have really come to fruition and that's probably not going to change this offseason.
Prescott will become a free agent next year, and it is unfortunate given how well he played last season. His value may not get any higher.
What a Dak Prescott contract extension would have looked like
Had Dak Prescott been extended, it would have been a long-term lucrative deal for the QB. He arguably played his best football in 2023, and despite the playoff meltdown, was in line for a substantial payday along the lines of recent extensions.
There were rumors that an extension for the Dallas Cowboys would have been for about $60 million, resetting the ever-changing QB market. According to Spotract, that's exactly what Prescott would have received.
Prescott was playing great at the time of the theoretical extension, which is key. The timing of when they sign matters a lot to the ultimate value of the contract. It's what helped boost Jalen Hurts' deal and others, and it apparently would have reset the QB market even further.
The salary cap just increased, which does play a role in this. Nevertheless, while it's not happening now, it would have been one of the largest contracts in NFL history.