Todd Archer of ESPN reported the following Friday:
"The Cowboys have an offer that, according to sources, would make Prescott the second-highest-paid NFL quarterback in terms of average per year. That figure would fall behind Seattle Seahawks quarterback Russell Wilson, who makes $35 million a season and received guaranteed money that is on par with Jared Goff's $110 million guarantee from the Los Angeles Rams."
The Cowboys placed the exclusive franchise tag on Prescott, who is due to make at least $31.4 million in salary in 2020 if the two sides do not come to a contract agreement by an NFL-imposed July 15 deadline, per Archer.
Dallas has made it clear that the team wants to re-sign Prescott, with executive vice president Stephen Jones making these remarks to 105.3 The Fan on May 6, per ESPN's Ed Werder: "Dak is the quarterback of our franchise now, and for many years to come. We’ve gotta get his contract—we’ve gotta get over that hurdle. But we’ll do it, it’ll ultimately get done."
The sticking point appears to be contract length, per ESPN's Adam Schefter.
"To clarify any recent speculation on Dak Prescott’s contract negotiations: there have been no discussions on other scenarios other than the Cowboys wanting a longer deal and Prescott wanting a shorter deal, per source," Schefter wrote.
Jori Epstein of USA Today expressed similar sentiments.
"Prescott and his representation aren’t entertaining extensions longer than four seasons. The Cowboys want to lock up their franchise quarterback for at least five. It’s that dispute that didn’t line up with a report that gained traction this week from former NFL quarterback Chris Simms, who now works for NBC Sports," he wrote.
Simms told 105.3 The Fan that Prescott was offered a five-year, $175 million deal and that the ex-Mississippi State star wanted north of $45 million in his final season. That report has been refuted by a few sources, including Ian Rapoport of NFL Network:
Ian Rapoport @RapSheet
According to the team side and Dak Prescott’s agent, the report (👇🏽) from @CSimmsQB is definitely not true. The two sides have never discussed such scenarios or anything like it. Dak wants a shorter deal, the #Cowboys want a longer one. July 15 is the deadline. https://t.co/yUgxcz5qcq
Prescott, 26, has completed 65.8 percent of his passes for 97 touchdowns and 36 interceptions in four years with Dallas, which has won two NFC East titles since selecting the Louisiana native in the fourth round of the 2016 draft.