Dallas Cowboys owner Jerry Jones addressed ongoing contract negotiations with quarterback Dak Prescott in an interview with Stephen A. Smith on Wednesday.
Jones expressed skepticism that the team could afford to re-sign Prescott and have enough cap space to sign other key players.
Jones noted that the recent contract restructuring will ensure that the Cowboys will have to continue paying Prescott millions after this year, regardless of whether he re-signs. Prescott will count $40 million against the team's salary cap in 2025 if he ends up with another team.
“We have the challenge of not only recouping what we've spent on him over the last four years, but we have to add that to what we're going to pay him going forward,” Jones said. “That's not Dak's problem, it's the Dallas Cowboys' problem, because that money isn't going to be available to spend on supporting players.”
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Dak Prescott of the Dallas Cowboys before a game against the Detroit Lions at AT&T Stadium on December 30, 2023, in Arlington, Texas. (Cooper Neill/Getty Images)
In March, the Cowboys converted Prescott’s $5 million bonus into a signing bonus and added two more voidable years. That move freed up $4 million in cap space this year, reducing his cap hit to $55.4 million. That $4 million doesn’t go away, though. It rolls over into next year’s dead cap money, which now tops $40 million in 2025 — for Prescott alone.
Now, Prescott, 31, will become a free agent at the end of this season and take on a historic $55 million hit on the team's salary cap. But his next annual salary could end up being even higher.
Prescott's next contract could prove to be more lucrative than those signed by Cincinnati Bengals star Joe Burrow and Jacksonville Jaguars quarterback Trevor Lawrence, who signed five-year, $275 million contracts. Those contracts are tied for the most lucrative in NFL history.
For Jones, another Prescott contract could create serious problems for his team's salary cap. He remains optimistic that his team can pull it off, but he's not sure.
The team just re-signed wide receiver CeeDee Lamb to a record four-year, $136 million contract. Star linebacker Micah Parsons is set to play out the final base year of his rookie contract this season and could become the recipient of the first $200 million contract for a non-quarterback in NFL history.
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Dallas Cowboys owner Jerry Jones leaves the field after warmups before a game against the Washington Commanders at FedEx Field. (Geoff Burke/USA Today Sports)
“We have to ask ourselves: Can we have the kind of success that Dak deserves, that we deserve, that his teammates deserve, that our fans deserve? Can we do that and be able to afford to pay Dak?” Jones asked. “I think we can.”
Prescott told reporters on Aug. 29 that he often ignores Whatever Jones says when asked about the owner's recent comments about a possible contract extension or replacement strategy for the quarterback.
“Honestly, I've stopped listening to what (Jerry Jones) says to the media for a long time. To me, it doesn't carry much weight,” Prescott said.
Prescott's response came when he was asked about comments Jones had made a day earlier when asked about the status of contract negotiations.
“To me, Dak's current situation has more to do with our situation than it does with Dak Prescott's merits as quarterback of the Dallas Cowboys,” Jones told reporters.
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Troy Aikman, left, talks with Dak Prescott of the Dallas Cowboys before a game against the Washington Redskins at AT&T Stadium on Nov. 22, 2018, in Arlington, Texas. (Wesley Hitt/Getty Images)
Jones was also asked if the team had a “Plan B” for Prescott, as the team does not have any quarterbacks under contract in 2025.
“Contracts are not the end-all-be-all, and some of the best decisions I've been a part of with the Cowboys have been when we didn't have contracts in one form or another, with a player on our team or some other team,” Jones said.
As Prescott neared the end of his rookie contract before the 2019 season, the two sides were working toward an extension before he became a free agent that summer. But no deal was reached before the start of the season. Prescott then had his best season statistically in 2019 with career-highs in passing yards and touchdowns.
Jones failed to re-sign Prescott during the 2020 offseason, and the team used its franchise tag on him that year. Prescott only played in five games that season before suffering a season-ending compound fracture and dislocation of his right ankle against the Giants in Week 5. The Cowboys stumbled to a 6-10 record without their quarterback. Jones then signed Prescott to his current contract in March 2021.
Prescott is once again coming off the best season of his career in 2023. He threw a league-leading 36 touchdown passes and a career-best 105.9 passer rating while finishing second in MVP voting.
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