Ed Werder of ESPN reported the sides resumed talks, though it's unclear how far apart they are in negotiations. The Cowboys currently have a $26.8 million charge on their 2020 cap after tagging Prescott.
The Cowboys and Prescott have been at a stalemate in extension talks dating back to last offseason and did not appear close to a deal before the franchise-tag deadline earlier this month. The two sides have until mid-July to reach terms on a contract or Prescott will have to play the 2020 season on the tag.
Prescott's contract is the biggest piece of business the Cowboys have remaining this offseason after wide receiver Amari Cooper signed a five-year, $100 million contract and cornerback Byron Jones left for the Miami Dolphins. It's likely Prescott will sign a contract that will make him one of the highest-paid quarterbacks—if not the highest-paid quarterback—in football.
Cowboys executive vice president Stephen Jones said last month the team was waiting to see how the new collective bargaining agreement played out before discussing Prescott's deal. With the new CBA now signed and ratified, the two sides should be able to sit down and work out a long-term deal.
"I'm not going to get into any of the details of the contract and franchising and that type of thing," Jones told reporters. "Our goal is to get it done with Dak. I know he wants to be here. We want him to be here long-term and he's our guy. We've got nothing but the highest regards for him and we want to get the deal done."
Prescott is coming off arguably the best season of his career, throwing for 4,902 yards and 30 touchdowns against 11 interceptions. He had never topped 4,000 yards in any of his previous three seasons.