According to Ian Rapoport of NFL Network, both the quarterback's agent and the team denied Prescott turned down a massive deal that would've made him the highest-paid quarterback in NFL history.
The quarterback wanted at least $45 million in the fifth year, according to the report.
According to Adam Schefter of ESPN, "there have been no discussions on other scenarios other than the Cowboys wanting a longer deal and Prescott wanting a shorter deal."
This has been a disagreement for months, with ESPN's Chris Mortensen reporting in March the Cowboys have wanted a five-year extension, while Prescott is hoping for a four-year contract.
Even with a lofty salary offer, the quarterback is holding firm on his stance about four years.
Still, Cowboys executive vice president Stephen Jones is not worried about an agreement.
"We've gotta get his contract—we've gotta get over that hurdle," Jones said earlier this month on 105.3 The Fan (via Ed Werder of ESPN). "But we'll do it, it'll ultimately get done."
Prescott is set to make $31.4 million on a one-year tender in 2020 after the team used the franchise tag on the him. It's already set to be the highest cap hit in the NFL next season, per Spotrac.
It still appears as though the length of his next contract will be more of a hangup than the total salary.