The 26-year-old Prescott will make $31.4 million in 2020.
It’s official: Cowboys QB Dak Prescott just signed $31.4M exclusive franchise tender, source confirms to @usatodaysports.— Jori Epstein (@JoriEpstein) June 22, 2020
Deadline to negotiate a long-term deal is July 15. Otherwise, Dak will play 2020 on tag.
While that should come as welcome news for Cowboys fans, Prescott’s future with the franchise is still in doubt. He and the Cowboys now have until July 15 to work out a long-term contract.
If that doesn’t happen, Prescott would play 2020 on the franchise tag and then hit the free-agent market. At that point, any team could offer Prescott a mega contract. Prescott is reportedly seeking $40 million per season. The Cowboys have shown interest in signing Prescott to a long-term deal, but haven’t been able to get it done.
History suggests a long-term deal will happen. Of the eight quarterbacks to receive the tag, only two actually played under it. Both of those players — Drew Brees and Kirk Cousins — signed with another team upon reaching free agency.
Prescott has shown flashes of stardom throughout his career. After a promising rookie season, Prescott put up solid — but unspectacular — numbers in both 2017 and 2018. He broke out in 2019, however, setting career bests in passing yards, touchdowns and yards per attempt.
If the Cowboys believe that’s the real Prescott, the team better lock him up now. If Prescott reaches the open market after another fantastic season, the Cowboys could get stuck in a bidding war the team can’t win.
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