Dak Prescott Rumors: Cowboys Franchise Tag Salary Is $31.4M Amid Contract Talks

Dallas Cowboys quarterback Dak Prescott's franchise tag for the 2020 season is reportedly worth $31.409 million, according to NFL Network's Ian Rapoport. 

The tag was originally worth $26.824 million, but since it is dependent on the average of the top five quarterback salaries in the league once the restricted free agent signing period is over, the number was adjusted and is now official.

Per Spotrac, Prescott will be the seventh-highest-paid quarterback in the NFL in terms of annual salary if he signs his franchise tender.

The 26-year-old Prescott is coming off a career year statistically, as he completed 65.1 percent of his passes for 4,902 yards, 30 touchdowns and 11 interceptions, while also rushing for 277 yards and three touchdowns.

Despite his production and the fact that the Cowboys were first in the NFL in total offense, they went just 8-8 and failed to reach the playoffs.

Prescott was a two-time Pro Bowler and won the Offensive Rookie of the Year award during his four-year stint under head coach Jason Garrett, but former Green Bay Packers head coach Mike McCarthy is now in charge. There will be some continuity, though, since McCarthy retained Kellen Moore as offensive coordinator.

There is no question that Prescott has far outperformed his status as a fourth-round pick in the 2016 NFL draft. Prescott has started all 64 games since entering the league, going 40-24, and leading the Cowboys to two NFC East titles and playoff appearances.

He is undoubtedly in line for a massive contract extension in the near future that could make him the highest-paid quarterback in NFL history, but the two sides have been unable to reach an agreement for the past year.

Provided Prescott signs the franchise tender and play 2020 under the franchise tag, he will have plenty of weapons in place to help him land the contract he desires, including running back Ezekiel Elliott and wide receivers Amari Cooper and Michael Gallup.

There is still a chance Prescott and the Cowboys could reach a long-term deal before the 2020 season starts, though, as the deadline to sign a franchised player to a multiyear contract is July 15.