Report: Cowboys, Dak Prescott have had no contract talks, August floated as possible date

Round and round we go on Dak Prescott extension reports.

The biggest obstacle to the Dallas Cowboys’ being bigger spenders in free agency remains a contract extension with quarterback Dak Prescott. The franchise signal-caller came out this week and discussed how “everything is great” and a new extension “will happen,” acknowledging it could allow the team financial flexibility.

Although owner Jerry Jones is optimistic about eventually completing a contract with Prescott, he mentioned that it could be postponed until 2025. Jane Slater of NFL Network says there have been no new contract talks, signaling Jones is comfortable with keeping things as they are before free agency.

Dak Prescott and the Cowboys have had no talks at all on a contract extension, NFL Network’s Jane Slater reported Wednesday.

Slater added, however, that it’s unlikely to be cause for alarm and that she could foresee a deal coming to fruition closer to August.

Prescott is headed into the final season of his current deal and has a giant $59.4 million salary cap hit on the Cowboys’ books for 2024. That number alone begs for a new deal to lower the cap hit for Dallas.

As noted by Slater, even though there have been no negotiations as of yet, it’s unsurprising to see some back and forth through the media.

Speaking to reporters at the NFL Scouting Combine, Cowboys owner Jerry Jones opined that Prescott could play better than he has and he also has no “fear” of this being Prescott’s final season with the team.

The nearly $60 million cap hit is a looming Nimbostratus cloud (the scientific name for a dark cloud) over the Cowboys’ offseason plans. As usual, they could restructure a few contracts with veteran players like Zack Martin, Trevon Diggs, and DeMarcus Lawrence to free up cap space. And as reported earlier this offseason, the front office can convert some of Prescott’s 2024 salary into a signing bonus to free up around $18 million without negotiation. If an extension is unlikely, look for this to happen before next week, ahead of free agency.

So when would an extension happen? Slater alludes to August as a potential month to circle. Maybe it’s something in the air of Oxnard, but the Cowboys have gotten numerous contract extensions done with players in training camp. Prescott could be the latest one to do so, especially if the quarterback has a firm deadline to table talks before the regular season to limit distraction.

Make no mistake—both sides want to close a new deal. Fans might wish for Dallas to speed up their timeline, given that the legal tampering period starts on Monday, and the team could use a few more top-tier players. If the Cowboys were committed to an all-in approach, signing a contract extension with their franchise quarterback would be their top priority However, there isn’t any rush for Jones to finalize a new deal with Prescott, as the Cowboys can do the restructure, along with restructuring other veteran contracts, and free up money for their usual modest spending in free agency.