Dak Prescott Contract: Dallas Cowboys' QB Will Make Record Salary If Franchised Multiple Times

Dak Prescott has signed his franchise tender for the 2020 NFL season, but that doesn’t mean his contract negotiations with the Dallas Cowboys are finished. The two sides are still hoping to reach a long-term agreement by the July 15 deadline.

The franchise tag would pay Prescott a guaranteed salary of $31.409 million before he heads for free agency in 2021. Dallas could tag the quarterback for a second straight year, though it would be costly.

NFL rules stipulate that being tagged a second time results in a $120% raise, meaning Prescott would make $37.69 million guaranteed on the franchise tag in 2021. It’s a virtual guarantee that the Cowboys wouldn’t franchise Prescott for a third and final time ahead of the 2022 season since it would force Dallas to pay its signal caller a $54.27 million salary.

Signing Prescott to a lucrative multi-year deal, even a record-setting one, would be more cost-effective than using the franchise tag on him year after year. The 26-year-old is reportedly hoping to earn as much money as Russell Wilson, who leads all players with an average yearly salary of $35 million.

The Cowboys’ best offer has fallen just short of Wilson’s deal. Dallas has reportedly offered to make Prescott the second-highest paid player in the league. Ben Roethlisberger currently holds that distinction with a $34 million average yearly salary.

Prescott is reportedly seeking a four-year contract, while the Cowboys want to ink him to a five-year deal.

The Los Angeles Rams gave Jared Goff a four-year, $134 million last year with a record $110 million guaranteed. Dallas has reportedly offered Prescott $110 million guaranteed.

Three straight franchise tags would pay Prescott $123.37 million through the 2022 season.

Prescott has gone 40-24 since Dallas selected him in the fourth round of the 2016 NFL Draft. He has made two Pro Bowls and won two NFC East titles.