Despite a disappointing playoff defeat to the Green Bay Packers in the wild-card round, the Dallas Cowboys remain committed to securing a contract extension for quarterback Dak Prescott. According to NFL Media insider Ian Rapoport, discussions are expected to proceed as planned, emphasizing Prescott’s integral role as the franchise quarterback for the Cowboys. Despite the setback in the playoffs, the team is determined to move forward with negotiations, acknowledging Prescott’s status as a key player.
Rapoport stated on “NFL GameDay” that talks are still on track, with the focus now on finding a suitable financial arrangement. Despite the unfavorable playoff outcome, Prescott is poised to receive a significant contract extension, reflecting his status as a franchise quarterback. Currently, Prescott is in the final year of a four-year, $160 million contract with $126 million guaranteed. Spotrac estimates his market value to be a four-year deal worth $50.8 million annually, ranking him fifth at his position.
Despite potential concerns from some Dallas fans due to Prescott’s struggles in the postseason, sporting a 2-5 record, tied for the worst in league history with Alex Smith and Billy Kilmer, the Cowboys recognize the need to create more cap space. The team is projected to be $18.05 million over the salary cap, and restructuring Prescott’s contract is seen as a viable solution. According to Over The Cap (OTC), extending Prescott and reducing his cap number would save Dallas $26.23 million in cap room, addressing the financial constraints.
This financial maneuvering is crucial for the Cowboys, as it allows them to re-sign other key players, such as star wide receiver CeeDee Lamb. Lamb, who led the league in receptions with 135 in 17 games, is entering the final year of his rookie contract. Despite the playoff loss, Prescott’s extension is seen as a strategic move to cut costs and enable the team to retain valuable assets, ensuring a competitive roster for the upcoming seasons.
While Prescott may not have met expectations in the playoffs, there is a consensus that he is still in his prime, and extending his contract is viewed as a beneficial move for the overall success of the franchise.