Dak Prescott, Cowboys expected to work out long-term contract extension in offseason

Dak Prescott could be on the verge of a MVP season — the first such campaign in Dallas since the Clinton Administration.

That excellence appears set to be rewarded this coming offseason.

NFL Network Insider Ian Rapoport reported Sunday on NFL GameDay Morning that Prescott and the Cowboys are expected to work out a long-term contract extension this offseason that will make Dak one of the highest-paid QBs in the league.

Any potential extension — while warranted by Prescott’s play on the field this season — also serves as a practical bookkeeping measure. Prescott currently sits to carry a $59.455 million salary-cap hit in 2024 — the final year of a four-year, $160 million contract signed in 2021. Such a cap hit would significantly hinder what Dallas could do during free agency — the team also has extensions for young stars Micah Parsons and CeeDee Lamb on its to-do list — so expect talks to ramp up once the season ends.

Rapoport reported Sunday that Prescott is due a $5 million roster bonus due on the fifth day of the new league year, so a potential extension likely would occur before that deadline. Prescott’s current deal also contains no-trade and no-franchise tag clauses. 

Prescott currently is playing some of the best ball of his career and is fresh off a three-TD performance in a prime-time win over the Seahawks on the heels of winner NFC Offensive Player of the Month for November. Thursday’s win over Seattle marked Prescott’s sixth consecutive game with two or more touchdowns, and his 20 TDs through the air are the most in Cowboys history since 1970 over a six-game span.

“I understand nobody’s opinion defines me, that’s the great part about life and that’s the great opportunity that we all have, that people can say whatever they want, but you know I have the pen, I have the paper and I’m the one writing,” Prescott told reporters on Thursday night when asked how it feels to be silencing critics with his recent play. “So, because I’m playing as well as I am now doesn’t mean I’m going to stop, doesn’t mean I’m going to listen to them now.”