According to Adam Schefter of ESPN, Dallas Cowboys quarterback Dak Prescott is planning to sign an exclusive franchise tender worth $31.4 million on Monday. Prescott and the Cowboys will have until July 15 to work out a long term deal.
When the deal is officially signed, Prescott will be contractually obligated to report to training camp on time whether or not he’s able to reach a long-term agreement with the Cowboys by then, according to Schefter. The deal will serve as a one-year contract for Prescott, 26, which could allow him to become an unrestricted free agent in 2021. It will also mean he carries the largest cap hit in the NFL.
Cowboys’ QB Dak Prescott is planning to sign his exclusive franchise tender by Monday, according to @AdamSchefter
Prescott’s PFF Grade and rank since 2016
2019 – 78.6 (12th)
2018 – 74.3 (19th)
2017 – 69.5 (24th)
2016 – 81.7 (9th) pic.twitter.com/FixBDaW4O1
— PFF (@PFF) June 21, 2020
Prescott was selected by the Cowboys in the fourth round of the 2016 NFL Draft. Last season, the two-time Pro Bowler posted career highs in passing yards (4,902) and touchdowns (30).
Prescott has made less than $5 million so far in his career. But if no deal is reached by July 15, Prescott will make $31.4 million in 2020 and then either hit free agency in 2021, sign a long-term deal with the Cowboys next offseason, or be guaranteed at least $37.7 million in 2021 if the Cowboys were to franchise him again.
The Cowboys do not want to use the franchise tag too much as they would struggle to franchise tag Prescott in 2022 when it would cost the organization $54.3 million for a one-year deal. He would then become an unrestricted free agent, where he would have a massive amount of leverage in a league in which the cap was either undergoing or about to undergo a dramatic shift forward.
- MLB releases 60 Game Schedule for 2020 - July 6, 2020
- Five Potential Nicknames for Cleveland’s MLB Team - July 6, 2020
- Seven Potential New Nicknames for Washington’s NFL Team - July 3, 2020