Cowboys' Dak Prescott feels negotiations for a contract extension are headed in the right direction

In 2023, the Dallas Cowboys finished 12-5, first in the NFC East. However, the Cowboys lost 48-32 at home to the Green Bay Packers in the wild-card round. Throughout the offseason, one of the main talking points surrounding the team was the contract situation of Pro Bowl QB Dak Prescott. 

The 31-year-old is headed into his 9th professional season with the Dallas Cowboys. Prescott is set to make $29 million in 2024 and is a free agent after the season. On his current deal, Prescott is making an annual average value of $40 million. However, the top QB contracts in the NFL have a $55 million annual value. Dallas is going to owe Prescott a big-time contract if they plan on re-signing him. On Thursday, the QB spoke to the media and said he feels that contract negotiations are headed in the right direction.

Dak Prescott is still waiting to get a contract extension from the Dallas Cowboys

Cowboys QB Dak Prescott said talks on a new contract “are on the right way”.

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— Adam Schefter (@AdamSchefter) August 16, 2024

With a fourth-round pick in the 2016 NFL draft, the Dallas Cowboys selected QB Dak Prescott out of Mississippi State. Prescott has played in 114 games for the Cowboys over eight seasons and has started in all of them. In six of his eight seasons, Prescott has played in at least 16 games for Dallas. Additionally, he’s led the team to five postseason appearances in eight years. However, the Cowboys have not made it past the divisional round with Prescott. Entering year nine, the three-time Pro Bowler is playing on an expiring contract.

Team owner Jerry Jones is in quite a predicament right now. Not only do they have the contract of Dak Prescott to worry about but they also need to pay their All-Pro WR. CeeDee Lamb is coming off a monster season in which he led the NFL with 135 receptions. Lamb has been holding out this offseason and has not reported to training camp. They need to pay their WR1 who is coming off the best season of his career. The 25-year-old is also playing on an expiring contract, much like his QB Dak Prescott. Dallas will likely have to pay both of those players. It’s a matter of when not if it will happen. They cannot afford to lose Dak Prescott or CeeDee Lamb offensively. Jerry Jones is eventually going to have to pay two players who are at the top of their position.