Dak Prescott ‘confident’ in Cowboys extension with $60M cap hit, free agency looming: ‘It’ll happen’

The Cowboys quarterback discussed his contract situation with reporters Monday at a Dallas charity event he hosted alongside former Dallas signal-caller Troy Aikman.

“I’m definitely confident,” Prescott said when asked about getting an extension done. “Obviously it helps the team. It’s important for the numbers. … Both sides understand that. Everything’s great. It’ll happen.”

Prescott’s approaching the final season of a four-year, $160 million contract extension he signed in 2021. His deal counts $59.4 million against the salary cap in 2024, an albatross of a number as the Cowboys look to improve their roster in hopes of a Super Bowl run.

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Jerry Jones wants to go ‘all in’

Owner Jerry Jones has vowed to go “all in” on a competitive roster this offseason. Doing so would require significant maneuvering with the Cowboys roughly $4 million over the salary cap before free agency begins. Extending and restructuring Prescott’s contract would allow the Cowboys to redistribute his cap hit and free up space to improve the roster.

Dak Prescott is confident in getting a deal done with the Cowboys. 
Jones less enthusiastic about Prescott extension

With all that, Jones isn’t as confident in getting an extension done as Prescott. So he said last week when speaking with reporters at the NFL scouting combine.

“We don’t need to, but we can if everybody wants to solve it,” Jones said about working out an extension. “You can get in and get on the same page and see if you can come to an agreement. If you can’t, what we have in place works.

“And so obviously, if you do it one way, you’ll be working through some of the other areas on the team in a different way, but you can’t really plan on that until you see when you’re there.”

So what is Jones’ plan to work out the Cowboys’ cap challenges without a new deal for Prescott? He didn’t offer any specifics.

“You just have to adjust where you’re going and how you’re going all-in,” Jones said.

Does Jones want to sign Prescott to an extension?

Prescott’s fresh off arguably the best regular season of his career with 36 touchdowns and 9 interceptions in a 12-5 campaign. He followed it up with a disaster of a playoff performance that saw him throw two interceptions in a 48-32 loss to the Green Bay Packers.

One interception was a pick-6, and the other set Green Bay up for a touchdown. The Cowboys are now 2-5 in the playoffs with Prescott and haven’t advanced past the divisional round. Jones is clearly growing weary of the lack of postseason success in Dallas.

“But my point is that we can be better,” Jones told reporters when discussing going “all in.” “Dak can play better than he has maybe, we could argue one of the best years he’s ever had in his career.

“But the good news is, I’m convinced that he can play better, and I’m convinced that we can do some things better all the way around, and so we’re all in.”

Playoff success or not, quarterbacks of Prescott’s caliber aren’t readily available. Allowing him to hit the open market in 2025 presents a significant risk. Thanks to a clause in his contract, he’s not eligible for the franchise tag. If Jones is willing to let Prescott walk, the question is begged: What’s the alternative?

Add in the fact that an extension would offer significant help to Jones’ goal of going “all in” in 2024, and it makes a lot of sense for him to be motivated to get a deal done alongside Prescott.

But he clearly doesn’t want to say so in public.