After signing the $31.4 million franchise tag back in June, the Cowboys and Prescott had until Jul. 15 to come up with a long term deal.
The Cowboys had an offer on the table that included $33-35 million a year for five years and $110 million guaranteed. Prescott refused because he wanted a four-year deal, the NFL reports. The two parties were not able to come up with a deal together before the deadline and now Dak will have to play under the franchise tag this season.
This means that the Cowboys are not allowed to finalize another deal until Mar. 2021. Next year his tag would be $37.68 million, which puts Dallas in a tough spot. Depending on how much revenue the Cowboys will get this season if the pandemic continues, Dallas may not be able to afford Prescott’s franchise tag next year.
If Dallas wants to keep Prescott long-term, they will have to consider releasing some players. The Cowboys’ 2021 projected salary cap would be $212 million, though it may change amid the pandemic. The Cowboys this season owe Prescott $31.4 million, Amari Cooper $22 million, DeMarcus Lawrence $22 million, Zach Martin $15 million and Ezekiel Elliot $13.7 million, ESPN reports. Signing Prescott to a long term deal next year may lead to the Cowboys releasing some of their star players to make room in their salary cap.
Prescott had a great reaction after the deadline though not being able to finalize a deal. “I am a Cowboy and I couldn’t be happier” Prescott said to USA Today. “I look forward to working alongside Coach McCarthy, the staff, and my teammates to be the best team we can be in pursuit to our goal of a Super Bowl.”
However, his older brother Tad Prescott had a different approach to the situation. After hearing that the Cowboys were not able to sign Dak to an extension his brother tweeted:
— Tad Prescott (@86Prescott) July 15, 2020
Not signing Prescott to an extension now can be costly for the Cowboys. There is a chance that Prescott may not return next season to the Cowboys if they cannot afford to keep him. The Cowboys will have to start considering drafting a quarterback in the first round in 2021 in order to reduce space on their salary cap, according to The Star.
If the Cowboys can make it to the playoffs and possibly the Super Bowl, Dallas will have serious thinking to do on how to maintain their star quarterback, while also keeping their other star players on the roster as well.
Time will tell from here what the future of Prescott is for the Cowboys. Dak wants to stay in Dallas, and so do his fans. It will be interesting to see how the situation with Dak progresses as the season goes on in 2020.