Monday and Tuesday at The Star brought a wave of excitement and relief for Dallas Cowboys fans and the organization alike, as the team secured a key player for their future. The 2023 All-Pro wide receiver, CeeDee Lamb, signed a four-year, $136 million extension, quelling any concerns that arose from his holdout and ensuring that one of the NFL's premier pass-catchers remains in Dallas for the foreseeable future.
With Lamb's contract settled, the focus now shifts to another critical piece of the Cowboys' offensive puzzle—quarterback Dak Prescott. Prescott is on the verge of entering the final year of his contract in 2024, a situation fraught with both opportunity and uncertainty. Leading the NFL with 36 passing touchdowns in 2023, Prescott has proven himself to be an elite talent and an indispensable asset for the Cowboys.
The Clock Ticking on Prescott’s Deal
The urgency around Prescott's contract situation is palpable. His current contract includes both a no-franchise tag and a no-trade clause, which means he could potentially hit the open market by March 2025 if an extension isn’t reached. Significantly, none of the Cowboys' current quarterbacks, including backups Cooper Rush and Trey Lance, are under contract for the 2025 season, emphasizing the urgency of locking down Prescott to secure their quarterback position.
Owner Jerry Jones, aware of the high stakes involved, made it clear that securing Prescott’s future is a priority but also acknowledged the complexities involved. "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," Jones remarked, emphasizing the delicate balance required in managing the team's salary cap.
Financial Implications and Market Dynamics
Financial considerations loom large in contract negotiations. With quarterbacks like Trevor Lawrence, Jared Goff, and Jordan Love holding some of the highest average annual salaries in the NFL at $55 million per year, the market is set at a high bar. For the Cowboys, who have $39.6 million in effective cap space available in 2025 and a projected $160.1 million in cap space in 2026, strategic financial planning is crucial.
Prescott, for his part, remains focused on the immediate goal—winning games. "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," said Jerry Jones, underscoring the importance of the upcoming season opener. Prescott added, “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. The money and all that will take care of itself as it always has."
The Stakes in Securing Prescott
CeeDee Lamb expressed his confidence in reaching an agreement that would retain Prescott, noting their on-field success and the mutual desire to continue their partnership. "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 urged.
Jones, experiencing both the highs and lows of contract negotiations throughout his tenure since purchasing the Cowboys in 1989, highlighted the risk-reward aspect embedded in these decisions. "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," Jones said, summing up the strategic challenge. "Sometimes it’s worked out really well. Sometimes taking those risks will bite you."
As the Cowboys prepare for their season opener and navigate the critical task of securing their franchise quarterback, one thing is certain: the decisions made in the coming months will chart the course for the team's future. With financial acumen, strategic foresight, and a focus on winning, the organization aims to ensure that cornerstone talents like Dak Prescott and CeeDee Lamb remain integral to their success for years to come.