Dak Prescott, Cowboys miss key deadline for long-term contract extension

Dak Prescott, Cowboys miss key deadline for long-term contract extension

July 16, 2020

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Star Dallas Cowboys quarterback Dak Prescott will play out the 2020 season on an exclusive franchise tag after talks with team officials failed to yield a long-term agreement ahead of a key deadline Wednesday.

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Prescott, 26, will be paid $31.4 million for the season. NFL teams had until 4 p.m. EDT to sign franchise-tagged players to long-term contracts. Without a deal in place, further negotiations can’t occur until after the season.

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The Cowboys’ final offer to Prescott prior to the deadline included an annual salary of up to $35 million, a $50 million signing bonus and a total of $110 million in guaranteed money, NFL Network reported. Contract talks broke down in the spring.

The two sides reportedly disagreed on the length of a potential deal, with Prescott preferring a four-year term and the Cowboys pursuing a five-year term.

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The Cowboys selected Prescott in the fourth round of the 2016 NFL Draft. Prescott led the Cowboys to a playoff appearance in two of his first four seasons.

LOS ANGELES, CA – JANUARY 12: Quarterback Dak Prescott #4 of the Dallas Cowboys walks off the field after losing the NFC Divisional Round playoff game to the Los Angeles Rams at Los Angeles Memorial Coliseum on January 12, 2019 in Los Angeles, Califo

Prescott could hit free agency after the 2020 season. The Cowboys can attempt to sign him to a long-term deal or re-apply the franchise tag for a second straight season.

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Under an exclusive franchise tag, the player is unable to negotiate with any other NFL team. Pay is determined as an average of the top five salaries at the player’s position for the upcoming season.

Prescott posted career highs in completions, passing yards and passing touchdowns last season. However, the Cowboys struggled to an 8-8 record and missed the playoffs.

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