Monday and Tuesday were momentous days for Dallas Cowboys fans and the organization. The excitement was palpable as the team secured their star wide receiver, CeeDee Lamb, to a four-year, $136 million extension. This timely move put an end to Lamb’s holdout, allowing both fans and the organization to breathe a sigh of relief. Lamb—widely regarded as one of the NFL’s premier pass-catchers—remains the centerpiece of the Cowboys’ offensive playbook for the foreseeable future.
However, with Lamb's contract secured, attention now shifts to another cornerstone of the Cowboys' offense—quarterback Dak Prescott. Entering the final year of his contract in 2024, Prescott emerged as a key player when he led the NFL with 36 passing touchdowns in 2023. The negotiations for his contract extension could prove to be a high-stakes game for the Cowboys’ management.
Contracts and Cap Space
Prescott's current contract includes both a no-franchise tag and a no-trade clause, ensuring he has considerable leverage in negotiations. Should the Cowboys fail to reach an extension agreement, Prescott would hit the open market by March 2025. Jerry Jones, the Cowboys' owner, emphasized the importance of the upcoming season opener first and foremost, saying, “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.”
Unlike Lamb, who has secured his future, none of the Cowboys' current quarterbacks—including Cooper Rush and Trey Lance—are under contract for 2025. This poses a considerable challenge for the Cowboys as they navigate financial considerations. The team has $39.6 million in effective cap space to work with in 2025, but this will need to stretch to cover essential contracts. By 2026, the Cowboys have a projected $160.1 million in cap space, but managing an NFL roster under salary cap restrictions is an intricate balancing act brimming with inherent risks.
Financial Comparisons
In the broader context of NFL contracts, quarterbacks like Trevor Lawrence, Jared Goff, and Jordan Love are drawing average annual salaries soaring up to $55 million per year. This financial landscape will undoubtedly influence Prescott’s negotiations. “The money and all that will take care of itself as it always has,” Prescott remarked, demonstrating a laid-back approach to the looming contract discussions. Prescott’s agent, Todd France, will be handling most of the negotiation details as they head into training camp.
A High-Stakes Game
“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,” Jones reflected, underscoring the financial tightrope that comes with managing a team under a salary cap. For Jerry Jones, who purchased the Cowboys in 1989, it's crucial to strike that balance. “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. Sometimes it’s worked out really well. Sometimes taking those risks will bite you,” Jones added, encapsulating the volatility and complexity of NFL roster management.
Within the Cowboys’ camp, there’s optimism and a sense of determination to secure Prescott’s future with the team. CeeDee Lamb, buoyed by his own contract resolution, stated, “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.”
As the Cowboys prepare for the upcoming 2024 season, all eyes will be on the negotiations between the team and their star quarterback. The outcome could shape the franchise’s trajectory for years to come.