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The negotiations began recently, and now there is something tangible to go off of. The Dallas Cowboys have apparently formulated their first offer to quarterback Dak Prescott on a new contract and are awaiting to hear the response from he and agent Todd France. Prescott, entering the final year of his rookie deal, has been the Cowboys starting quarterback since coming into the league, and the team wants to build around him moving forward.
The first major contract domino was when the club signed DeMarcus Lawrence to a five-year, $105 million deal prior to the draft. Now Prescott is the next priority and will likely shatter Lawrence’s status as the highest-paid player in franchise history.
#Cowboys team sources tell me “we’re very comfortable with Dak (Prescott) being our future” but a deal with the QB is still not what they would describe as “close”. I’m told the Cowboys presented his agent with their first offer and are currently awaiting his counter offer.
— Jane Slater (@SlaterNFL) May 7, 2019
Owner Jerry Jones had visited with the Rich Eisen Show on Monday, were Cowboys legend Michael Irvin has been a fill-in host. He spoke about the progress made in the negotiations with Prescott, prior to the news breaking a proposal had been submitted.
Via the Star-Telegram‘s transcription:
Prescott has his detractors, but his stats and the team’s record in his starts indicate he’s on a similar trajectory to some of the game’s best quarterbacks.
Prior to free agency, Cowboys Wire put out an article explaining why Prescott should be in line for a $29 million a year average deal. The market has changed a bit, but we still stand behind the logic of the number. Compared to his contemporaries there is every reason to believe Prescott will continue to improve on his stellar stats and is capable of leading Dallas to the Super Bowl.
Wherever the offer to Prescott is, the ball is now in the court of he and his representatives to come up with a counter offer. Dallas would like to have a new deal in place before the start of the regular season.
It will be interesting to see the makeup of whatever deal is in place, as Dallas could easily structure it to pay Prescott the going rate for franchise quarterbacks, while simultaneously protecting themselves beyond a three-year window.
For instance, a deal where his base salary remains at $2 million and he gets a $15 million bonus (spread over 5 years of the cap) that would only increase his 2019 hit to $5 million.
With our $87 million-guaranteed projection, that leaves $70 million to be paid out over the 2020 and 2021 seasons.
Normally we’d project Dallas to plan to restructure a huge 2020 base salary, but they may not have to. Already accounting for Lawrence’s $21.9 million hit, the Cowboys still have a projected $94 million of space remaining based on a projected cap of $200 million but not yet accounting for the next two draft classes or any 2019 carryover.
The Cowboys could absorb a full $35 million base salary for Prescott in 2020 and pay their other stars comfortably.
Doing this in 2020 and 2021 would mean the Cowboys would have very little dead money in 2022 should they for some reason no longer want to move forward with Prescott as their franchise QB; just $6 million in total.
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The first major contract domino was when the club signed DeMarcus Lawrence to a five-year, $105 million deal prior to the draft. Now Prescott is the next priority and will likely shatter Lawrence’s status as the highest-paid player in franchise history.
#Cowboys team sources tell me “we’re very comfortable with Dak (Prescott) being our future” but a deal with the QB is still not what they would describe as “close”. I’m told the Cowboys presented his agent with their first offer and are currently awaiting his counter offer.
— Jane Slater (@SlaterNFL) May 7, 2019
Owner Jerry Jones had visited with the Rich Eisen Show on Monday, were Cowboys legend Michael Irvin has been a fill-in host. He spoke about the progress made in the negotiations with Prescott, prior to the news breaking a proposal had been submitted.
Via the Star-Telegram‘s transcription:
“I am confident we will get this (deal) done.”
”We are sold on Dak,” Jones said. “We do want to have him for the long term. We think he is worthy of investing in for the long term. He is going into his fourth year in the NFL. When you look at the snaps he has had, the situations he has been in and how he has got here and you see he has performed, we see real upside in Dak.
“You don’t have it all yet. We love the way he logically progresses through a game. You see when the going gets tough, when he’s got to come from behind, when he turns it loose a little bit. You see him make those plays. He emboldens me to make a deal with him that puts him here for the long term.”
Prescott has his detractors, but his stats and the team’s record in his starts indicate he’s on a similar trajectory to some of the game’s best quarterbacks.
Prior to free agency, Cowboys Wire put out an article explaining why Prescott should be in line for a $29 million a year average deal. The market has changed a bit, but we still stand behind the logic of the number. Compared to his contemporaries there is every reason to believe Prescott will continue to improve on his stellar stats and is capable of leading Dallas to the Super Bowl.
Wherever the offer to Prescott is, the ball is now in the court of he and his representatives to come up with a counter offer. Dallas would like to have a new deal in place before the start of the regular season.
It will be interesting to see the makeup of whatever deal is in place, as Dallas could easily structure it to pay Prescott the going rate for franchise quarterbacks, while simultaneously protecting themselves beyond a three-year window.
For instance, a deal where his base salary remains at $2 million and he gets a $15 million bonus (spread over 5 years of the cap) that would only increase his 2019 hit to $5 million.
With our $87 million-guaranteed projection, that leaves $70 million to be paid out over the 2020 and 2021 seasons.
Normally we’d project Dallas to plan to restructure a huge 2020 base salary, but they may not have to. Already accounting for Lawrence’s $21.9 million hit, the Cowboys still have a projected $94 million of space remaining based on a projected cap of $200 million but not yet accounting for the next two draft classes or any 2019 carryover.
The Cowboys could absorb a full $35 million base salary for Prescott in 2020 and pay their other stars comfortably.
Doing this in 2020 and 2021 would mean the Cowboys would have very little dead money in 2022 should they for some reason no longer want to move forward with Prescott as their franchise QB; just $6 million in total.
Gallery
9 Free Agents Cowboys should consider after the draft
Continue reading...