Dak Prescott is in terrific financial position with Cowboys
Dak Prescott is going to get his money. One way or the other.
Prescott, 26, is on the Dallas Cowboys’ franchise tag. If he doesn’t strike a long-term deal with the team by July 15, he’ll be compelled to play the 2020 season on what amounts to a one-year, $33 million deal. Should that scenario play out, the Cowboys could tag him again for 2021 at 120 percent of his current value. As a result, he would have another $39 million guaranteed.
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However, Prescott could also sign this summer and be rich beyond his wildest dreams. If this route comes to pass, Prescott would be wise to wait for Patrick Mahomes to sign his record-setting extension. Once Mahomes signs, the new ceiling will be established for quarterbacks, thus raising the floor for Prescott in negotiations with Dallas.
Kirk Cousins, who famously played out a pair of franchise tags with the Washington Redskins before signing a fully-guaranteed $84 million deal with the Minnesota Vikings, talked about why playing out the situation isn’t a terrible option. Per ESPN:
“…If you’re good enough, the cream’s going to rise to the top, and you’re going to get compensated the way you want to. Sometimes it doesn’t happen as quickly as you would like, but if you deserve it, and you’ve earned it, it’s going to happen. So you’ve just got to stay the course and stay patient. Certainly in my journey, it all worked out. I wouldn’t go back and change a thing.
“So my message to Dak, when I saw him midseason last year, was, ‘Hey, whatever happens, don’t be afraid of the tag. It can be your friend, and you can use it to your advantage.’â€
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After throwing for nearly 5,000 yards in his fourth season out of Mississippi State, Prescott’s value is at its zenith. It should only improve with Mike McCarthy in town as head coach, alongside a receiver corps which included first-round pick CeeDee Lamb, Amari Cooper and Michael Gallup.
When Prescott gets signed, and how much he ends up signing for, remains unknown. However, the basic guidelines are clear.
Dak Prescott won’t sign for more than Mahomes, which is likely to be around $40 million per year. He’s going to net more than Jared Goff both in annual value and guarantees, meaning he’ll come in above $33 million and $110M respectively.
Eventually, Prescott and the Cowboys will settle somewhere in the middle, and all will be right at JerryWorld.
