Monday and Tuesday at The Star were a time of celebration for Dallas Cowboys fans and the organization, following the long-awaited signing of 2023 All-Pro wide receiver CeeDee Lamb. Lamb and the Cowboys agreed to a four-year, $136 million extension, putting an end to the holdout and securing one of the NFL's leading pass-catchers for the foreseeable future.
This key signing has shifted the spotlight to another critical component of the Cowboys' offense – quarterback Dak Prescott. The clock is ticking as Prescott approaches the final year of his contract in 2024. With a league-leading 36 passing touchdowns in 2023, Prescott’s importance to the team cannot be overstated.
The Prescott Conundrum
Owner Jerry Jones highlighted the significance of the upcoming season opener, but the underlying tension surrounding Prescott's contract situation remains palpable. His current deal includes both a no-franchise tag and a no-trade clause, ensuring free agency by March 2025 if an extension isn't secured.
At present, none of the Cowboys' backup quarterbacks, including Cooper Rush and Trey Lance, hold contracts for the 2025 season. Financial considerations play a significant role in these negotiations, as they must compare Prescott’s potential earnings with top-tier contracts in the NFL. With Trevor Lawrence, Jared Goff, and Jordan Love commanding average annual salaries of $55 million, the Cowboys need to balance competitive compensation with their cap space.
Financial Juggling Act
The Cowboys have $39.6 million in effective cap space for 2025, a figure that will undoubtedly influence contract discussions. Moreover, with a projected $160.1 million in cap space for 2026, long-term financial planning is at the forefront.
Managing an NFL roster under these salary cap restrictions is intricate and fraught with risks. Jones, who purchased the Cowboys in 1989, succinctly summarized the challenge, stating, “You’ve always got to remind everybody that this is a zero-sum game. Any dollar one player gets is a dollar another one doesn’t get.”
Commitment to Winning
The sentiment from within the team reinforces a commitment to resolving the Prescott situation. Lamb expressed his confidence, saying, “You look at our numbers together, they're at the top of the charts. I have no doubt that they're going to get a deal done. We all know that I want Dak here. Jerry [Jones] wants Dak here, too, so let's just get this under control and kill the speculation and let's go win.”
Jerry Jones echoed this sentiment, emphasizing the immediate focus on the upcoming games, particularly the season opener against the Cleveland Browns. “We’re continuing to, first of all, put all of our focus on what’s coming up here in the next 10 days, two weeks. That game [Week 1 at the Cleveland Browns] takes priority over anything,” he noted.
Prescott's Perspective
Prescott himself has taken a pragmatic approach, allowing his agent, Todd France, to handle contract discussions. “There’ve been conversations back and forth, but for the most part, as y’all know, I let my agent handle that, especially as we get right here into training camp,” Prescott said. He remains unfazed by the financial aspects, asserting, “The money and all that will take care of itself as it always has.”
Jones has navigated these waters before, understanding the dual nature of the high-stakes NFL game. “If you can get the most and the best players out there for the least amount of the cap, you’re doing your very best job,” he remarked, reflecting on both successful and challenging negotiations in the past. “Sometimes it’s worked out really well. Sometimes taking those risks will bite you.”
As the Cowboys gear up for the season, the resolution of Dak Prescott’s contract situation looms large. Balancing financial constraints with the need to maintain a competitive roster is the task at hand for Jerry Jones and the Cowboys' management. The outcome will not only shape the immediate future but also set the course for seasons to come.