Cowboys Rumors: 'No Indications' Dak Prescott Will Get New Contract; No Offers Made

Dak Prescott may be heading into his last season with the Dallas Cowboys.

Ian Rapoport of NFL Network reported the Cowboys and Prescott have a "mutual understanding" regarding his contract situation, and there is "no indication" an extension will be reached.

"We are where we are, locked and loaded for this year," owner Jerry Jones said Tuesday.

Prescott is heading into the final season of a four-year, $160 million deal. He cannot be franchise-tagged next offseason, meaning the Cowboys are seemingly willing to allow him to hit unrestricted free agency.

On paper, the Cowboys not extending Prescott seems implausible. He carries a $55.5 million cap hold for the 2024 season, ranking second in the NFL behind Deshaun Watson. The Cowboys would also take on a $40.4 million dead cap hit if they allow Prescott to hit free agency, per Spotrac.

The only way to reduce those charges is to extend Prescott's deal now. The Cowboys' refusal to do so—and their relative silence in free agency—speaks volumes.

If this were a year ago, perhaps not offering Prescott an extension would make some sense. He was coming off a miserable 2022 campaign that saw him set a career-high with 15 interceptions while missing five games due to injury.

In 2023, Prescott turned everything around and performed like an MVP candidate. He threw for 4,516 yards and led the NFL with 36 passing touchdowns while reducing his interceptions to nine. While the Cowboys fell short again in the playoffs, it wasn't Prescott on the field allowing 48 points to the Green Bay Packers.

Still just 30 years old, Prescott has plenty of prime years left as a high-level NFL starter as well. The fact a deal isn't done already makes it more likely than ever that a divorce is coming after the 2024 season.