Monday and Tuesday at The Star were filled with transformative moments for the Dallas Cowboys and their fans, catalyzed by the signing of 2023 All-Pro wide receiver CeeDee Lamb to a four-year, $136 million extension. This pivotal move concluded Lamb's holdout, ensuring that one of the NFL’s top pass-catchers remains with the Cowboys for the foreseeable future.
However, the spotlight quickly shifted to another cornerstone of the Cowboys' offensive engine—quarterback Dak Prescott. With Prescott entering the final year of his contract in 2024, the urgency to secure his future with the franchise is mounting. Remarkably, Prescott led the NFL with 36 passing touchdowns in 2023, asserting his crucial role in the team's offensive strategy.
A Season of High Stakes
Jerry Jones, the Cowboys' owner, emphasized the critical nature of the upcoming season opener. “We’re continuing to, first of all, put all of our focus on what’s coming up here in the next 10 days, two weeks. That game [Week 1 at the Cleveland Browns] takes priority over anything,” Jones stated, highlighting the immediate pressures atop the long-term vision.
Adding to the intricacies of Prescott's situation are the specific stipulations in his current contract, which includes both a no-franchise tag and a no-trade clause. This means Prescott would hit the open market by March 2025 if an extension isn’t sealed. And it's not just Prescott in focus—none of the Cowboys' current quarterbacks, including Cooper Rush and Trey Lance, are under contract beyond 2024.
The Financial Balancing Act
Financial considerations have become a substantial factor in these high-stakes negotiations. Trevor Lawrence, Jared Goff, and Jordan Love currently hold contracts with the highest average annual salary in the NFL, capping at $55 million per year. In contrast, the Cowboys have $39.6 million in effective cap space to leverage in 2025 and a projected $160.1 million in cap space for 2026.
Jones, who acquired the Cowboys in 1989, is well-versed in the complexities of managing an NFL roster under salary cap restrictions. “You’ve always got to remind everybody that this is a zero-sum game. Any dollar one player gets is a dollar another one doesn’t get,” he said, underscoring the balancing act necessary for building a competitive team. “If you can get the most and the best players out there for the least amount of the cap, you’re doing your very best job.”
CeeDee Lamb is optimistic about Prescott's future with the Cowboys, reflecting on their synergy on the field. “You look at our numbers together, they're at the top of the charts. I have no doubt that they’re going to get a deal done. We all know that I want Dak here. Jerry [Jones] wants Dak here, too, so let's just get this under control and kill the speculation and let’s go win,” Lamb emphasized.
Prescott’s Perspective
For Prescott, the focus remains unwaveringly on football. “There’ve been conversations back and forth, but for the most part, as y’all know, I let my agent (Todd France) handle that, especially as we get right here into training camp,” Prescott remarked. And while the negotiations are undeniably significant, he maintains that “the money and all that will take care of itself as it always has.”
As the Cowboys gear up for a pivotal season, the franchise’s decisions in the coming months will resonate for years. Balancing the financial demands while retaining cornerstone players like Prescott and Lamb is a delicate act Jerry Jones and his management are all too familiar with. “Sometimes it’s worked out really well. Sometimes taking those risks will bite you,” Jones admitted, encapsulating the unpredictable nature of NFL roster management.
The Cowboys, armed with a blend of high-caliber talent and strategic foresight, are poised at a potential tipping point. How they navigate these negotiations and on-field challenges will be closely watched by fans and analysts alike, setting the stage for their short and long-term success.