Dak Prescott Positioned To Become NFL's Highest-Paid Quarterback

The Dallas Cowboys are one of the hottest teams in the NFL, and in large part, it's thanks to how well quarterback Dak Prescott has played.

In his past eight games, Prescott has completed 201 of 290 passes for 2,444 yards, with 25 total touchdowns and just two interceptions. Dallas is 7-1 during that stretch, and Prescott has become a top MVP candidate.

As his odds of being NFL MVP increase, so does his price tag for his next contract. Prescott has one year remaining on his deal after 2023, but he will have plenty of leverage in negotiations for a couple of reasons besides his exceptional play.

Prescott's 2024 Cap Number is Nearly $60M

Because Prescott was franchise-tagged twice before, his tag number in 2025 would require a 44 percent increase from the cap number in the final year of his deal. This practically means he can't get tagged again, so he's guaranteed to become a free agent in 2025. It’s the closest thing to having a no-tag clause.

On top of that, due to multiple contract restructures, Prescott’s cap number for next year is a whopping $59.455 million. The easiest way for Dallas to lower it is by doing an extension. So the Cowboys need to redo the deal far more than Prescott does.

Prescott became the second-highest-paid quarterback when he signed a four-year, $160 million deal in 2021. Now he's tied for 10th because the quarterback market saw five resets this past offseason. Those included new deals for Lamar Jackson, Jalen Hurts, Justin Herbert and Joe Burrow, along with an adjusted contract for Patrick Mahomes. Burrow is the highest-paid quarterback in average annual value at $55 million per season.

With all the leverage he’ll have, Prescott can push to become the NFL's first $60 million-a-year quarterback. And as Dallas learned the first time it did a deal with Prescott, his agents drive a hard bargain in negotiations.

Cowboys' Offseason Will Be Expensive

“He’s under contract now, but we’d like to do this after the season,” COO Stephen Jones recently said. “Once the season is over, we will focus on that. Dak will be our quarterback.”

The Cowboys will also have receiver CeeDee Lamb and pass rusher Micah Parsons up for contract extensions this offseason.

It’s a big reason why this is the season for Dallas to capitalize on a potential Super Bowl run. Soon enough it will become time to back up the Brinks truck for the Cowboys' star players, including their MVP candidate quarterback.