Cowboys' Dak Prescott 'Definitely Confident' About Getting Contract Extension Done

Even though Jerry Jones is keeping open the possibility that Dak Prescott could play out the final season of his current contract, the three-time Pro Bowl quarterback sounds optimistic about working out a new deal with the Dallas Cowboys.

Speaking to reporters on Monday, Prescott said he's "definitely confident" the two sides will get something done.

Jones told reporters at the NFL scouting combine over the weekend they "don't need to" extend Prescott right now, but they "can if everybody wants to solve it."

At the very least, it seems likely the Cowboys and Prescott will renegotiate his current deal. His $59.5 million cap hit in 2024 ranks second among all quarterbacks, trailing only Deshaun Watson ($63.98 million).

The Cowboys are $4 million over the cap and need to pull some levers to get cap-compliant, as well as free up space to make additions to their roster this offseason. They can free up $18 million by restructuring Prescott's deal.

A long-term extension would almost certainly be more beneficial to the Cowboys. It would allow them to lower his cap hit by even more than the $18 million they can currently do, while giving them the peace of mind of knowing they have their franchise quarterback under contract for several more years.

Prescott would seem to wield more power over this situation than the club. His four-year, $160 million extension that was signed in March 2021 came with a no-tag clause, giving him the ability to hit true free agency next offseason if he wants to test the market.

NFL insider Jordan Schultz noted in February that Prescott could eventually sign a deal worth $60 million per season, either from the Cowboys or another club if he gets to free agency.

The Cowboys won the NFC East with a 12-5 record, but lost in the wild-card round of the playoffs to the Green Bay Packers. They are the first team in league history to win at least 12 games in three consecutive seasons and failed to make the conference championship game at least once.

Prescott is coming off the best season of his career in 2023. He threw for 4,510 yards and tied for the league lead with 36 touchdowns to finish second in NFL MVP voting.