Monday and Tuesday at The Star brought a wave of excitement and relief for Dallas Cowboys fans and the organization alike. The signing of 2023 All-Pro wide receiver CeeDee Lamb to a four-year, $136 million extension effectively ended Lamb's holdout, ensuring that one of the NFL's premier pass-catchers remains with the team for the foreseeable future.
A Crucial Extension
With Lamb secured, the Cowboys' focus shifts to another cornerstone of their offensive squad—quarterback Dak Prescott. As Prescott approaches the final year of his contract in 2024, the pressure mounts for the Cowboys' management to negotiate an extension. Prescott's performance has been nothing short of stellar, leading the NFL with 36 passing touchdowns in 2023.
Jerry Jones, the Cowboys' owner, has highlighted the significance of the upcoming season opener, indicating that the team's immediate priorities take precedence but also stressing the importance of handling contract negotiations with precision. "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 said.
Dak's Contract Situation
Prescott's current contract includes both a no-franchise tag and a no-trade clause, which puts the Cowboys in a challenging position. If a contract extension isn't reached, Prescott would become a free agent by March 2025. The team has no quarterbacks under contract for the 2025 season, including backups Cooper Rush and Trey Lance, making Prescott's contract situation even more critical.
Prescott, for his part, has remained focused on football, leaving negotiations to his agent Todd France. "There’ve been conversations back and forth, but for the most part, as y’all know, I let my agent handle that, especially as we get right here into training camp," Prescott noted. He further expressed confidence in the process, saying, "The money and all that will take care of itself as it always has."
Financial Juggling Act
The financial considerations surrounding Prescott's contract are complex, with the average annual salary of top NFL quarterbacks like Trevor Lawrence, Jared Goff, and Jordan Love reaching $55 million per year. Currently, the Cowboys have $39.6 million in effective cap space to work with in 2025 and a projected $160.1 million in 2026, offering some flexibility for negotiations but also highlighting the challenges of managing an NFL roster under salary cap restrictions.
Jerry Jones emphasized the delicate balancing act required in these situations. "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," he explained. "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."
Risk and Reward
Jones acknowledged the inherent risks involved in these financial decisions. "Sometimes it’s worked out really well. Sometimes taking those risks will bite you," he admitted. Ensuring they strike the right balance will be crucial for the Cowboys, particularly in securing key players like Prescott and effectively utilizing their cap space.
CeeDee Lamb, already solidified with his new contract, expressed confidence about Prescott's situation being resolved soon. "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 wants Dak here, too, so let's just get this under control and kill the speculation and let's go win," Lamb stated emphatically.
All Eyes on the Future
With the critical elements of their offense at the forefront of contractual discussions, the Cowboys aim to navigate these uncertain waters while staying competitive. Jerry Jones, who purchased the Cowboys in 1989, has seen both the highs and lows that come with such high-stakes negotiations. This time, ensuring that Prescott stays with the team could shape the Cowboys' success for years to come.