Talks on a Dak Prescott extension are ongoing, and the Cowboys would likely see significant cap savings in 2024 by working out a new deal. The team’s alternative, of course, has remained a restructure to lower Prescott’s cap charge in case a long-term arrangement cannot be worked out. 
Dallas has indeed taken the latter route, as detailed by ESPN’s Field Yates. The Cowboys converted a $5MM roster bonus Prescott was owed on Sunday into a signing bonus, creating $4MM in cap space. As a result, the 2023 MVP runner-up’s cap charge now sits at $55.46MM, a figure which more than doubles the amount from last season.
Two void years were tacked onto Prescott’s deal, Yates adds. As a result, void years now extend into 2028 on the contract as currently structured. Yates’ colleague Dan Graziano notes Prescott’s permission was required to add void years, so this short-term agreement is a sign the parties remain willing to work out more permanent solution. The parties are discussing a deal, although owner Jerry Jones has publicly stated he is prepared to carry out the season with Prescott carrying a massive cap hit. The latter has considerable leverage given his no-tag and no-trade clauses coupled with the 2024 cap relief an extension would yield.
The $4MM in immediate savings will become dead money next year in the event Prescott were to depart in free agency. If that were to be the case, the Cowboys would be hit with roughly $40MM in cap charges, another factor which will no doubt influence extension efforts on the team’s part. Dallas also has monster second contracts to work out with wideout CeeDee Lamb and edge rusher Micah Parsons, both of whom are now eligible for a deal keeping them in place beyond their respective rookie pacts.
2023 trade acquisition Trey Lance will remain in place for the coming season, and he is set to occupy the backup quarterback role as a result. Prescott’s play as Dallas’ starter in 2024 will be a key determinant in the value of his next contract if he and the Cowboys are not able to agree to a new deal this spring. Even with this small move aimed at providing short-term flexibility, though, an extension remains firmly on the table.
A no-win situation. Dallas keeps him and never sniffs a championship or drops him and spends 2-3 years recovering from the cap hit. Ouch!
It kind of reminds me of the Falcons with Arthur Blank wanting Cousins so badly. Both teams are owned by old men who really don’t want to waste any more years of their lives rebuilding and are willing to trade the chance of greatness for being above average.
Dallas figures to always be in the mix, but it’s hard to endorse a Cowboys championship run without them making some kind of high end free agency move in the next few years. They’ve drafted well, which has been the biggest factor in their success, but it feels like Dallas is in that Green Bay “content to stay contenders” rung right now. That would be frustrating to me, if I were a Cowboys fan; it’s not the being “good, but not good enough” that’s demoralizing, but the refusal to make that necessary extra push that hurts.
There’s no way that Dallas can make that push without some long term relief from Prescott, though. Quarterbacks are expensive, granted, but every bit that can go to a high end player could help, if the team actually uses it competently. He’s definitely good enough to get a team there (I know opinions differ, but we’ve definitely seen worse go further), but the team will need to make those extra moves to elevate itself holistically if that’s going to happen. Prescott is being paid a lot, and hopefully he’ll be willing to do his part to recognize that he can help add new players by reducing his cap. Of course, the team has to capitalize on those moves, but it takes two.
As a Packer fan, I think I understand your frustration. However, over the last couple of decades, there is no way to compare the two teams’ championship/playoff possibilities or performance. The Dallas cowboys have not been “in the mix.” They haven’t been in the same area code. Unfortunately, for cowboys fans, it’ll probably be the case until Jerry Jones relinquishes any involvement in personnel and football decisions. But that’s okay with me. I just consider it karma for the way he treated Tom Landry and Jimmy Johnson
If it were me, I’d try to trade Prescott for a Herschel Walker- like haul. Perhaps Minnesota could be fleeced again?
I think that they’re fairly close-they are a perennial playoff team. They just always falter once they get there. That’s why, as good as being a great regular season team is, every team should always look to acquire that extra edge that they need to beat the other playoff caliber teams. The Cowboys are a solid bet to make the playoffs most years-and on paper, they usually look fine. This year looks shaky pre-draft, of course. But Dallas hasn’t backed much of that up with wins against those other playoff contenders, and that’s where the frustration would lie, were I a fan: partially the losses themselves, but more the apparent lack of effort to get better.
I’m not a Packers fan either, but it physically hurt watching them say “we’re good enough” every year and fall in the NFCC. To me, just blaming your quarterback or simply demanding more from a single player is a recipe for staleness (not you specifically, to clarify, just in general). It should serve as a cautionary tale. I mean, if I were a GM, I’d always be looking to upgrade, no matter who my QB is or what my record was. I don’t think that Prescott is a bad player, but he doesn’t compare to either Rodgers or Favre. The team needs more. Even the legends who won multiple rings, from Brady to Montana to Bradshaw, did so with a lot of help across their teams.
To your point, because I think that we’re pretty much in agreement on most of this, Dallas isn’t as close as Green Bay was. The Packers were right on the doorstep (though one could also argue that they stretched themselves a few times getting there, predominantly on the backs of their legendary QBs) several times, and stubbornly ignored open windows to tread water. The Cowboys haven’t gotten that far, but they also don’t have a shoe-in HoF quarterback right now.
Dallas’ refusal to delve into free agency, despite being a potential contender, hurts them. As I said, they draft well, which is the most important part of team building, and is the primary and enviable reason for their recent success. But they don’t add in the spots that they need to or replace certain departed talent. If they keep resting on their “good enough” laurels, they’ll keep flaming out.
First time I have posted anything on this site. I appreciate the civil, thoughtful response. It’s a rarity on the internet. Thank you.
No worries, and it was a good post.
Dak and Parsons for a Herchel Walker type haul. Reload time
Is there demand for Gallup? If so, OBJ is looking cheap. The new WR3. Creates monies to look at team need(s) in FA.
Dolt. Didn’t realize Dallas had recently moved on from Gallup.
IMHO I think the Cowboys are doing the best thing by waiting until after the upcoming 2024 NFL season to extend or not to extend Dak. IMHO after eight seasons in Dallas and with a 2-5 playoff record. Dak is what he is in terms of being a quarterback in the NFL. I don’t believe that Jerry and Stephen traded for Lance to stay at QB2 in 2025. IMHO I think that the Cowboys FO are being smart in dealing with free agency. Just my two cents worth.
Looking like more years getting for the Cowboys. Dak biggest PROBLEM can’t WIN the BIG GAME! He chokes in the playoffs
So did Eli unless he was playing the Foxboro Cheatriots.
I hate the Cowboys. Nothing nice to say. GTH
eat the money, get rid of Dak and let Lance play QB. one win, 12 wins, what’s the difference if you don’t win it all.
I am not a capologist, so could somebody break down the Dak situation in simple terms? If he does not get extended, he plays one more season for Dallas with a big cap hit? I am lost when it comes to void years, etc.