As suggested by Jerry Trotta of FanSided, one bold move the Cowboys could make to save money is by extending quarterback Dak Prescott. Extending Prescott’s contract could save the Cowboys over $23 million.
The Cowboys could save money with a Dak Prescott contract extension.
“With that in mind, the Cowboys should extend Prescott for however many years they desire, whether it be three, four, or even five,” says Trotta. “A Dak extension would save Dallas a whopping $23.868 million in cap room.”
Trotta details that while Prescott’s salary is modest, his total cap hit ($49.13 million) is “crippling,” as it ranks second in the league.
“Prescott is signed through next season, and will make $31 million in 2023 (fully guaranteed),” says Trotta. “While a reasonable salary, the QB will account for a crippling $49.13 million cap hit. While Prescott has certainly been worth the price of admission, Dallas will be hard-pressed to spend big to improve the roster with Prescott accounting for that significant of a cap hit. Only Deshaun Watson has a larger cap number for 2023.”
How Cowboys Save Money With Dak Prescott Extension
Vincent Frank of Sportsnaut goes into further detail how a restructuring of Prescott’s contract could save the Cowboys money. Long story short, by removing the void years and adding more years to his current deal — which runs through 2024 — it would decrease the cap numbers significantly.
“The Cowboys would save in the neighborhood of $22 million by restructuring Prescott’s deal,” says Frank. “It could save even more if an extension is agreed to, with Prescott pushing back larger cap hits to future years while earning more guarantees.
Cowboys Open to Dak Prescott Contract Extension
Despite failing to lead Dallas to a conference championship appearance during his seven seasons as starter, Prescott has the confidence of the organization. According to Cowboys executive Stephen Jones, Dallas is “committed” to Prescott and they would be open to extending his deal.
Via Nick Eatman of Cowboys.com:
“The Cowboys seem fully committed to Dak Prescott for many years to come,” says Eatman. “Stephen Jones said Dak could be the QB in Dallas for the “next 10 years.” Basically saying he’s going to be here and they would be open to extending his deal which would lower his current cap hit.”
Signed back in March of 2021, Prescott’s deal runs through the 2024 season with void years in 2025 and 2026. In addition to his large cap hit in 2023, Prescott is slated to count $49.13 million against Dallas’ overall figure in 2024. By removing the void years and adding more seasons to his current deal, both cap numbers would decrease significantly.”
The Cowboys are $7.6 million over the cap entering the offseason, which isn’t exactly a great situation. According to Spotrac, Dallas ranks 21st in the league.
Dallas has pressing offseason in priorities in re-signing running back Tony Pollard and tight end Dalton Schultz. Pollard is the team’s biggest playmaker coming off of his first Pro Bowl berth. According to Spotrac, Pollard’s projected market value is $9 million per year, which would make him the eighth-highest paid running back in the league. Meanwhile, Schultz’s projected market value is $15.1 million per year, which would make him the second highest-paid tight end in the league.
Extending Prescott’s current deal would go a long way towards saving the Cowboys money now and in the future.