Monday and Tuesday were pivotal days at The Star in Frisco, Texas, as the Dallas Cowboys organization and their fans shared a sense of excitement and relief following the signing of All-Pro wide receiver CeeDee Lamb to a four-year, $136 million extension. Lamb's signing not only ended his holdout but also secured one of the NFL's top wideouts for the foreseeable future.
With Lamb's situation resolved, the Cowboys' attention now shifts to another cornerstone of their offensive unit: quarterback Dak Prescott. Entering the final year of his contract in 2024, Prescott emerged as a key figure, leading the NFL with 36 passing touchdowns in 2023.
The Importance of Dak Prescott
The contract extension for Lamb means the Cowboys can now focus on addressing Prescott’s future with the team. Owner Jerry Jones underscored the significance of the season opener, emphasizing that the team's immediate focus is on their Week 1 matchup against the Cleveland Browns. "We’re continuing to, first of all, put all of our focus on what’s coming up here in the next 10 days, two weeks. That game [Week 1 at the Cleveland Browns] takes priority over anything," Jones stated.
Prescott's current contract, which includes no-franchise tag and no-trade clauses, ensures his autonomy in the negotiating process. If an extension is not achieved, Prescott is poised to enter the open market by March 2025. The Cowboys' predicament is compounded by the fact that none of their other quarterbacks, including Cooper Rush and Trey Lance, are under contract for 2025.
Financial Implications
Negotiating an extension with Prescott involves navigating the complex financial landscape of NFL contracts. High-profile quarterbacks like Trevor Lawrence, Jared Goff, and Jordan Love currently command average annual salaries of $55 million, setting a benchmark for Prescott’s potential deal. The Cowboys are operating with $39.6 million in effective cap space for 2025, and a projected $160.1 million in cap space for 2026. Managing these financial aspects is integral to maintaining a competitive roster under salary cap constraints.
Jerry Jones pointed out the delicate balance of financial management in the NFL. "You’ve always got to remind everybody that this is a zero-sum game. Any dollar one player gets is a dollar another one doesn’t get. If you can get the most and the best players out there for the least amount of the cap, you’re doing your very best job," Jones remarked. "Sometimes it’s worked out really well. Sometimes taking those risks will bite you."
Confident Voices
CeeDee Lamb expressed confidence that a resolution will be reached with Prescott, emphasizing the strong on-field chemistry between the quarterback and his receivers. "You look at our numbers together, they're at the top of the charts. I have no doubt that they're going to get a deal done. We all know that I want Dak here. Jerry [Jones] wants Dak here, too, so let's just get this under control and kill the speculation and let's go win," Lamb asserted.
Prescott himself maintains a composed stance regarding his contract situation, entrusting his agent Todd France to handle negotiations. "There’ve been conversations back and forth, but for the most part, as y’all know, I let my agent (Todd France) handle that, especially as we get right here into training camp. The money and all that will take care of itself as it always has," Prescott noted.
As the Cowboys aim to solidify their roster, the upcoming season opener will serve as an immediate challenge, with contract negotiations lurking in the background. The resolution of Prescott’s extension will not only play a critical role in the Cowboys’ future but will also define the landscape of NFL quarterback contracts.
With Jerry Jones at the helm since purchasing the Cowboys in 1989, the organization has navigated numerous high-stakes decisions. This situation with Prescott promises to be another defining moment in the franchise's storied history.