Kirk Cousins emerged as a rare veteran starting quarterback entering the NFL’s open market in 2024, potentially paving the way for Dak Prescott to follow suit in 2025. Despite Prescott’s recent expressions of confidence in securing a long-term contract with the Dallas Cowboys, indications now suggest he is set to play out his existing deal in 2024, with no immediate signs of an extension.
According to Ian Rapoport, Prescott and the Cowboys have reached “a mutual understanding” regarding his contract situation, with no contract offers from Dallas despite entering a contract year. Team owner Jerry Jones echoed this sentiment at NFL owners meetings, stating that the Cowboys are currently focused on the upcoming season without a firm plan for an extension.
However, our insider report offers a different perspective, indicating that Dallas does intend to negotiate a new deal with Prescott and is not considering allowing him to enter free agency in 2025. Nonetheless, Anderson highlighted that discussions are not currently underway.
This recent development stands in contrast to Prescott’s earlier optimism, where he expressed confidence in reaching a new agreement with Dallas ahead of the 2024 season.
“Obviously it helps the team,” he said at the time. “It’s important for the (salary-cap) numbers. I’ve heard Jerry say that. … Both sides understand that. Everything is great. It’ll happen.”
Since then, Jones has notably reversed course on the notion the Cowboys are “all in” on the 2024 campaign, revealing this week Dallas may have to “do more with (less)” as a result of financial obligations. Prescott, meanwhile, is owed more than $55 million in 2024 — more than all but one other quarterback in the NFL — as part of a four-year, $160 million extension he signed in 2021.
It should be noted that Prescott’s current deal includes no-tag and no-trade clauses, meaning in the absence of an extension or an approved move to another team ahead of the trade deadline, the ninth-year veteran will hit free agency after the 2024 season.
Prescott had one of his most prolific seasons in 2023, leading the NFL with 36 touchdown passes while guiding Dallas to a third straight playoff appearance. He and the Cowboys went one-and-done in the postseason for the second time in three years, however, and he enters 2024 seeking just the third playoff victory of his entire career.