Dak Prescott Rumors: 'Small Chance' Cowboys, QB Agree to New Contract Before Week 1

It looks like Dak Prescott will enter the 2024 NFL regular season on an expiring contract.

Mike Florio of ProFootballTalk reported Saturday night that there is only a "small chance" that Prescott and the Cowboys agree to terms on a new contract prior to Sunday's matchup against the Cleveland Browns.

Prescott is set to hit unrestricted free agency following the 2024 season and could be the top quarterback available on the open market.

Prescott is set to have a cap hit of $55.1 million in 2024 and will likely see a new deal that exceeds that in average annual value. Joe Burrow, Jordan Love and Trevor Lawrence currently lead the league in that metric with a $55 million hit.

Based on Prescott's previous play, he has quite the case to exceed that number. Prescott has 29,459 career passing yards and 202 passing touchdowns while compiling a 73-41 regular season record. In 2023, he threw for 4,516 yards with 36 touchdowns and just nine interceptions and was named second-team All-Pro.

He led the Cowboys to a 12-5 record and a division title last season and the team has similar expectations for 2024. A motivated Prescott could be a benefit for this Cowboys team, but the longer it takes to extend him, the more likely they enter 2025 with a new starting quarterback.