Cowboys' reported offer to QB Dak Prescott is five years, $175 million

In March, the Dallas Cowboys used the franchise tag to retain the rights to quarterback Dak Prescott for the 2020 campaign. 

One NFL insider believes the Cowboys could soon commit to Prescott on a long-term basis. 

While speaking with the "K&C Masterpiece" program on Dallas radio station 105.3 The Fan on Tuesday, former pro QB and Pro Football Talk analyst Chris Simms explained that he's heard the Cowboys have offered Prescott a five-year contract that could be worth $175 million.

From Mike Fisher of Sports Illustrated, Simms elaborated: 

"(Prescott) wants a four-year deal. If they do agree to a five-year deal they would like a really big number at the end of that fifth year to cover their butts for what the market might be at the position five years from now. And I've heard he's asking for somewhere like north of $45 million in that fifth year."

While the Cowboys put pen to paper on a deal with former Cincinnati Bengals starter Andy Dalton during the offseason, Dallas executive Vice President Stephen Jones said earlier this month that transaction had nothing to do with Prescott's contract situation. 

The Cowboys have until July 15 to sign Prescott long-term before he'd play under the franchise tag, but it seems as if it's a matter of when, not if, he receives a major payday from the team that drafted him in 2016. Prescott holds a regular-season record of 40-24, he turns only 27 years old in July and the Cowboys aren't in a position to tank and hope to draft a top-tier prospect such as Clemson's Trevor Lawrence. 

In short, it's a good summer to be Dak.