Before any other contract is signed, the Cowboys need to figure out what they want to do with quarterback Dak Prescott, who is entering the final year of his contract with a $59.45 million cap hit and a dead cap value of $61.91 million. The Cowboys cannot realistically construct a winning team with Prescott's contract as it is, so they'll inevitably have to either extend him, trade him, or cut him.
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“If we get to March and the Cowboys, for whatever reason, have decided they don't want to extend Prescott… then things get interesting," ESPN's Dan Graziano said. "Prescott's 2024 money is not guaranteed. The Cowboys could cut or trade him prior to paying the March roster bonus and save $34 million on their 2024 cap."
Regardless of the salary cap, there isn't any clear path to a quarterback upgrade for Dallas. Kirk Cousins and Baker Mayfield will be the headliners of a lackluster free agency, and any trade will likely result in a downgrade at the quarterback position.
Finding a franchise quarterback is a daunting task, and Prescott is a three-time Pro Bowler who just had an All-Pro season despite coming up short in the playoffs again. Only a handful of quarterbacks would represent an obvious upgrade, and none of them will be available for trade. All that leaves are the quarterbacks that Dallas currently has on their roster . San Francisco gladly traded Lance away just two years after spending multiple first-round picks to draft him third overall, so it's unlikely that he's a viable answer.
"The Cowboys know how hard it is to get a good quarterback and Prescott is largely considered a top-10 passer in this league,"
ESPN's Jeremy Fowler said. "So, it would be mildly surprising if they moved on from him, but with that 2-5 playoff record, certainly that could be a negotiating point for Dallas that comes up over the coming months."
Extending Prescott is the most reasonable move if Dallas wants to remain competitive. And remaining relative and competitive is our owners first priority. He appears to be “ All In” on this current core of stars even recently stating we will go as far as Dak takes us.
Also worth noting is in McCarthys lame duck season without a contract extension it’s very doubtful they change QB’s. That leaves us basically negotiating how big and how long the extension.