Dallas Cowboys owner Jerry Jones addressed ongoing contract negotiations with quarterback Dak Prescott in an interview with Stephen A. Smith Wednesday.
Jones expressed skepticism the team could afford to re-sign Prescott to a new contract and have enough salary cap space to sign other key players.
Jones pointed to recent restructuring of contracts that will ensure the Cowboys have to continue paying Prescott millions after this year whether he re-signs or not. Prescott will count $40 million against the team’s salary cap in 2025 if he ends up on another team.
“We have the challenge of not only recouping what we have spent on him over the last four years, we’ve gotta add that to what we’re gonna be paying him for the future,” Jones said. “That’s not Dak’s problem on the end that it’s the Dallas Cowboys’ problem because that money is not going to be there to spend on supporting cast.”
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Dak Prescott of the Dallas Cowboys before a game against the Detroit Lions at AT&T Stadium Dec. 30, 2023, in Arlington, Texas. (Cooper Neill/Getty Images)
In March, the Cowboys converted Prescott’s $5 million roster bonus into a signing bonus and added two more voidable years. That move freed up $4 million in cap space this year, knocking down his cap hit to $55.4 million. However, that $4 million doesn’t go away. It moves to next year’s dead cap money, which is now over $40 million in 2025, just for Prescott.
Now, Prescott, 31, figures to become a free agent at the end of this season while taking on a historic $55 million hit against the team’s salary cap. But his next annual salary could end up being even higher.
Prescott’s next contract could end up being more lucrative than those signed by Cincinnati Bengals star Joe Burrow and Jacksonville Jaguars quarterback Trevor Lawrence, who both signed for five years and $275 million. Those contracts are tied for the most lucrative in NFL history.
For Jones, another Prescott contract could create serious problems for his team’s salary cap. He remains optimistic his team can make it work, but he’s not certain.
The team just re-signed wide receiver CeeDee Lamb to a record-breaking four-year, $136 million contract extension. Star linebacker Micah Parsons is coming up on the last base year of his rookie contract this season and could become the recipient of the first $200 million contract for a non-quarterback in NFL history.
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Dallas Cowboys owner Jerry Jones walks off the field after warmups prior to a game against the Washington Commanders at FedEx Field. (Geoff Burke/USA Today Sports)
“We gotta ask ourselves, can we have the kind of success that Dak deserves, we deserve, his teammates deserve, our fans deserve? Can we do that and get in the range to afford Dak?” Jones asked. “I think we can.”
Prescott told reporters Aug. 29 he often disregards whatever Jones says when asked about the owner’s recent comments about a potential contract extension or a replacement strategy for the quarterback.
“I stopped, honestly, listening to things (Jerry Jones) says to the media a long time ago. It doesn’t really hold weight with me,” Prescott said.
Prescott’s response came when he was asked about comments Jones had made a day earlier when Jones was asked about the state of contract negotiations.
“Dak’s situation right now for me has more to do with our situation than it does with the merits of Dak Prescott being the quarterback of the Dallas Cowboys,” Jones told reporters.
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Troy Aikman, left, talks with Dak Prescott of the Dallas Cowboys before a game against the Washington Redskins at AT&T Stadium Nov. 22, 2018, in Arlington, Texas. (Wesley Hitt/Getty Images)
Jones was also asked if the team had a “Plan B” for Prescott, since the team has no quarterback under contract in 2025.
“Contracts isn’t the end-all solution, and some of the best decisions that I’ve been a part of with the Cowboys have been when we didn’t have contracts one way or the other, with a player on our team or some other team,” Jones said.
When Prescott was approaching the end of his rookie contract ahead of the 2019 season, the two sides were working toward an extension before he was set to hit free agency that summer. But no deal was reached before the start of the season. Then Prescott had his best season statistically in 2019 with career highs in passing yards and touchdowns.
Jones failed to re-sign Prescott during the 2020 offseason, and the team used its franchise tag on him that year. Prescott only played in five games that season before suffering a season-ending compound fracture and dislocation of his right ankle against the Giants in Week 5. The Cowboys stumbled to a 6-10 record without their quarterback. Then, Jones signed Prescott to his current deal in March 2021.
Once again, Prescott is coming off the best season of his career in 2023. He threw for a league-leading 36 touchdown passes and a career-best 105.9 passer rating and finished second in the MVP voting.
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