What Dak Prescott's Contract Extension With Dallas Cowboys Could Look Like Before 2019 NFL Season

Contract talks have become the biggest story of Dallas Cowboys’ training camp. Negotiations with Dak Prescott have made the most recent headlines. The team is trying to lock down their quarterback for the long term, though the latest reports indicate that the two sides might not exactly be close to an agreement.

The notion that Prescott is aiming to earn $40 million per year might not be accurate, but the report that he turned down a deal that would pay him around $30 million per season isn’t hard to believe. Prescott has only earned $1.62 million in salary in his three NFL seasons. The $2.025 million salary he’s set to make in 2019 before hitting free agency puts him among the lowest-paid quarterbacks in football.

There’s a debate regarding where Prescott ranks among the NFL’s best quarterbacks. There is no question that he’s been wildly underpaid since being selected in the fourth round of the 2016 draft. Prescott has made two Pro Bowls with a 96.0 career passer rating. He hasn’t missed a single game, going 32-16 as a starter and leading the Cowboys to three straight winning seasons.

The Cowboys don’t want to overpay Prescott, and it’s possible that Dallas will decide to use the franchise tag on him for the 2020 season. But owner Jerry Jones has made it clear in the past that he wants the quarterback to remain in Dallas for a long time.

Let’s assume the Cowboys will sign Prescott to an extension before the start of the 2019 NFL season. Here are three possible deals that could make sense for Dallas and the quarterback:

5 years, $141 million ($71 million fully guaranteed)

Here’s a contract that would give Prescott less than the $30 million average salary that he reportedly turned down, but only Matt Ryan has ever signed a deal worth more than $141 million. The $71 million signing bonus is also just north of what Russell Wilson received in his recent $140 million deal with the Seattle Seahawks. The Cowboys can structure the contract in a way that allows them to move on from Prescott after a few years, similar to the five-year, $137.5 million contract the San Francisco 49ers gave to Jimmy Garoppolo in 2018.

4 years, $130 million ($61 million fully guaranteed)

It’s reasonable to think Prescott is looking for an extension that looks similar to this suggestion since it would eclipse the recent contract signed by Carson Wentz in both average salary and total money. The Philadelphia Eagles gave their quarterback a four-year, $128 million deal with $66.4 guaranteed at signing. Perhaps giving Prescott a slightly lower signing bonus, but one that still ranks fourth among all quarterbacks, would make sense for Dallas.

3 years, $95 million ($95 million fully guaranteed)

It’s extremely unlikely that Prescott is going to get a fully guaranteed contract, but it’s a scenario that can’t be ruled out. Kirk Cousins made history two offseasons ago when he signed a fully guaranteed three-year, $84 million contract as a free agent with the Minnesota Vikings. A $95 million deal would set a record for guaranteed money and give Prescott close to nine figures in NFL career earnings with the option to test free agency in the prime of his career. The Cowboys would fall short of paying their quarterback Wentz’s $32 million average salary without having to commit to him beyond the 2022 season.