The Cowboys and Dak Prescott might not be as far apart as previously believed. For months, we’ve been hearing that Prescott is aiming for a two or three-year deal while the Cowboys wanted something more traditional – likely five or six years. Instead, the quarterback is seeking a four-year deal while the Cowboys are pitching five years, according to one source who spoke with Calvin Watkins of The Dallas Morning News (on Twitter).

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That doesn’t necessarily mean that the previous talk of Prescott wanting a two or three year deal was inaccurate. It’s possible that the current climate has changed Prescott’s views on potential open market upside versus long-term security. With a longer contract, Prescott can secure more in effective guarantees as well as guaranteed dollars at signing. Either way, it now seems like the Cowboys and their franchise QB are inching closer to a deal as the July 15th deadline approaches. They might not be on the same page, but they’re at least on the same chapter.

Prescott reportedly (and, naturally) wants to top Russell Wilson‘s league-leading $35MM average annual value. The Cowboys are hoping to hold the line and retain him at a lower rate, but any multi-year deal will have to wind up in that ballpark. If they can’t come to terms before the mid-June deadline, Prescott will earn $31.4MM in 2020 while remaining on course for free agency in ’21.

The Cowboys could franchise tag Prescott all over again next year, but that would leave them perilously thin everywhere else. Next year’s tag would call for a 20% raise over this year’s tag, which comes out to about $37.7MM. A third tag? That’d be a 44% jump – more than $54MM.

If the Cowboys want to stay in business with Prescott for the long haul, they’ll have to get something done sooner rather than later. And, if they can’t come to terms in the next few weeks, they’ll risk Prescott’s price jumping astronomically.

The latest news indicates that the Cowboys will hash things out by 6/15. History also suggests that a deal will get done. As Ed Werder of ESPN.com notes (on Twitter), seven of the league’s last ten franchise-tagged quarterbacks have agreed to multi-year deals before the deadline.

The Cowboys have until July 15th to hammer out a new deal with Dak Prescott. Apparently, they’re not all that close to an agreement. So far, the talks have consisted of the Cowboys pushing for a longer deal and the quarterback gunning for a shorter contract, according to Adam Schefter of ESPN.com (on Twitter).

There’s little doubt that Prescott’s next deal will make him a very, very rich man. However, Schefter’s report indicates that there’s no truth to a recent rumor that made the rounds on Wednesday. The internet was buzzing with talk of a five-year, $175MM offer for the quarterback, but there was apparently no truth to those rumors. According to Todd Archer of ESPN.com, the Cowboys have an offer on the table that would make Prescott the league’s second-highest player in terms of average annual value (behind Seahawks star Russell Wilson and his $35MM AAV). That jibes with what we heard several months ago, when it was reported that Dallas had offered a contract with an AAV of about $33.5MM during the scouting combine (though that proposal didn’t gain much traction).

Currently, Prescott is slated to earn ~$31.4MM in 2020, per the terms of the franchise tag. If they can’t come to terms on an extension by July 15th, they’ll have to wait until after the season to restart talks. There’s clear mutual interest in a multi-year arrangement, but Prescott wants a shorter deal so that he can cash in all over again with youth on his side. The Cowboys, meanwhile, want a longer deal that won’t completely break the bank.

“There’s all sorts of analytics out there that show if your quarterback takes up too big a percentage of your salary cap, it decreases your chances to win,” COO Stephen Jones said recently. “We’re just trying to figure out the right fit. No one wants to sign Dak to a longer term deal more than Jerry and myself. We’re on the record time and time again on what we think of him as a leader. He has the ‘it’ factor. He’s a fierce competitor. He wants to win as well, and it’s just gotta be right for him and right for us.”

Prescott, a two-time Pro Bowler, threw for 4,902 yards and 30 touchdowns in 2019. He’s seeking a deal that would make him the league’s highest-paid quarterback, vaulting him ahead of Wilson. But as a source tells ESPN’s Ed Werder, the two sides are close enough on dollars that a long-term deal by July 15 is in reach (Twitter link). If they can agree on the length of the contract, this matter could come together quickly.

Rory Parks contributed to this post.

Cowboys quarterback Dak Prescott doesn’t know whether he’ll get a long-term deal this offseason. But, at least he knows how much he’ll make if an extension doesn’t come together. Upon recalculation, the league has set the exclusive franchise tender salary for quarterbacks at $31.4019MM (Twitter link via Ian Rapoport of NFL.com). 

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The franchise tag amounts are based off of the NFL’s top five salaries at the position. Last year, that figure was $26.824MM. When Prescott was tagged in mid-March, Jared Goff ($36MM/year), Ben Roethlisberger ($33MM), Kirk Cousins ($31MM), Russell Wilson ($31MM), and Jimmy Garoppolo ($26.6MM) topped the list. Afterwards, Cousins and Big Ben agreed to restructure their contracts, lowering their cap hits for 2020 and bringing Philip Rivers ($25MM), and Tom Brady ($25MM) into the top five.

With that change, Prescott’s projected tag amount wasn’t clear and some wondered if he’d wind up at odds with the league office over it. Ultimately, Prescott’s salary was calculated based on the previous Top 5. That’ll cost the Cowboys a few extra million this year and, potentially, many millions over the course of future seasons. Prescott now has extra leverage in talks thanks to the higher data point, and that will serve him well as he looks to reset the market.

The Cowboys have the option to tag Prescott in 2021 and again in 2022, but the numbers would be absolute cap busters. Next year, the tag would cost the Cowboys $37.7MM, a 20% raise over the 2020 salary. A third consecutive tag for 2022 would see a 44% increase, in excess of $54MM. Needless to say, the Cowboys want to get their star QB under contract at a more reasonable sum.

The Cowboys and Dak Prescott have had “very positive” contract talks within the last two weeks, according to a source who spoke with David Moore of the Dallas Morning News (Twitter link). Apparently, things are trending in the right direction for the Cowboys and their franchise quarterback, regardless of whether he joins the Cowboys for the start of their online (and voluntary) OTAs.

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Prescott was kept out of free agency by way of a one-year, $31MM+ exclusive franchise tag. It’s a handsome sum, no doubt, but the QB is aiming for something in the neighborhood of Russell Wilson‘s contract. That deal, worth $35MM per annum, is the richest in the NFL.

This saga has surpassed the one-year mark. Prescott turned down a $33MM-per-year offer last year and has held firm on that front. It has now affected his offseason participation. While that ordinarily would not be a major issue, the Cowboys figure to have new wrinkles offensively after hiring Mike McCarthy. Kellen Moore remains OC, but Dallas’ offense will surely incorporate some of McCarthy’s concepts next season.

The latest on the Prescott contract front indicated he wanted a shorter-term deal. The Cowboys, as their 2019 extension spree most recently indicated, are proponents of longer contracts. A short-term pact would give the 26-year-old quarterback a chance at another monster payday in his early 30s or possibly before then. Given the events of the Prescott negotiation timeline to this point, his camp holding firm on this preference adds up.

The Cowboys have until July 15 to sign their quarterback to an extension. That would help the team’s cap situation; Prescott’s $31.5MM cap figure is anchoring Dallas’ payroll at the moment.

If the Cowboys go forward with a virtual offseason program next week, Dak Prescott won’t log on, unless he has a new deal in place (via Mike Florio of Pro Football Talk). The online OTAs would be voluntary, just like regular OTAs, so the choice is entirely up to him. 

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The Cowboys cuffed Prescott with the franchise tag earlier this offseason and he has yet to sign his tender. With a one-year, $31MM+ deal on the table, Prescott is pushing for a multi-year pact that would bring him closer to Russell Wilson‘s league-leading $35MM average annual value. While teammates Amari Cooper and Ezekiel Elliott signed long-term contracts (five years and six years, respectively), Prescott is reportedly looking for a shorter agreement that would allow him to cash in all over again in his prime years.

Even though Prescott’s performance dovetailed in the second half of last season, it’s still possible that he could become the NFL’s new cash leader. The two sides have until July 15 to sort all of that out. If they’re not able to come to terms, Prescott will probably take his time before putting pen to paper, but ultimately play on the one-year tender. Then, after the 2020 season, the two sides will be free to resume negotiations.

Prescott, of course, is not the league’s best quarterback, but he’s one of the better QBs in the game and these deals ultimately come down to age and timing. He won’t turn 27 until the end of July and he’s in a great position to get what he wants from the Cowboys.

The two-time Pro Bowler threw for 4,902 yards and 30 touchdowns in 2019. Many of those throws went to Amari Cooper, who tallied 79 receptions for 1,189 yards and eight touchdowns en route to a massive payday.

While much of the discussion surrounding Dak Prescott‘s next contract has been focused on AAV and guaranteed money, the length of the contract is also of particular interest to the quarterback. ESPN’s Jeremy Fowler reports (via Twitter) that the Cowboys quarterback may prefer a short-term deal.

As Fowler explains, there’s an expectation that the salary cap will see a significant jump thanks to an extra week of the regular season plus newfound gambling money. Therefore, Prescott is looking to hit free agency again so he can capitalize on that adjustment to the cap, and that means he might prefer a two- or three-year pact.

This is a bit different than how the Cowboys normally operate, as the front office has traditionally handed out longer contracts to their key players. We saw that last year when they signed Ezekiel Elliott to a six-year agreement, and we also saw it when the inked Amari Cooper to a five-year deal earlier this offseason.

We heard last week that there was a belief that Prescott would emerge from negotiations as the NFL’s highest-paid player. From an average-annual-value standpoint, the 26-year-old could still accomplish that. Russell Wilson‘s $35MM-AAV deal remains the NFL’s high-water mark. If Prescott plays next season under the franchise tag, he’ll be making around $33MM per year.