The Dak Prescott contract situation is one of the biggest stories in the NFL right now.
Prescott, 30, is headed into his ninth season; the last on his current deal.
And while his postseason history leaves much to be desired, his on-field success is paramount.
Three Pro Bowl appearances, the second-most passing touchdowns in Cowboys history, and a second-place finish in the 2023 MVP voting is nothing to scoff at.
The finalists for NFL MVP:
Dak Prescott
Lamar Jackson
Christian McCaffrey
Josh Allen
Brock Purdy— Jon Machota (@jonmachota) January 25, 2024
Simply put, it is rare to see a quarterback with his talent this close to free agency.
In recent history, the only top signal callers to hit the open market are Kirk Cousins and Tom Brady.
Those guys got paid a hefty sum, despite their age and an Achilles injury for Cousins.
With youth and higher potential on his side, the Prescott contract will be a whole lot more than what those guys got.
The question is, will his yearly average break the NFL’s record?
Recent Contracts Boost Price Tag
Much to the dismay of Owner Jerry Jones’ pockets, quarterback contracts are higher than ever.
Without exaggeration, the price tag at the position is on a meteoric rise.
With all due respect, when you hear names like Baker Mayfield, Daniel Jones, Derek Carr, and Deshaun Watson, you don’t immediately think of elite quarterback play.
Yet, the average annual salary for those four guys comes out to $39.2M.
That number is barely below Prescott’s current salary of $40M.
And, I think most of us can agree he is clearly the best quarterback of the four I just named.
Nowadays, the price tag for upper-tier quarterbacks isn’t $40M, or even $50M.
Highest-paid QBs by annual average:
Joe Burrow – $55M
Justin Herbert – $52.5M
Lamar Jackson – $52M
Jalen Hurts – $50M
Kyler Murray – $46.1M
Deshaun Watson – $46M
Patrick Mahomes – $45M
Kirk Cousins – $45M
Josh Allen – $43M
Daniel Jones – $40M
Dak Prescott – $40M— NFL Stats (@NFL_Stats) March 22, 2024
The most recent contract extensions for the league’s best are in the $51-56M range, and the latter number is being hit more frequently.
This means whichever quarterback gets paid next will likely become the top yearly earner.
And that one could be the first in NFL history to reach $60M per season.
The question will be which team gives it away first, and does that become the new benchmark for quarterbacks in the future.
Is Prescott Next In Line?
While Cowboys fans are locked in on the Prescott contract dispute, there is more than one notable quarterback who could reach the $60M mark first.
Pro Bowlers Jordan Love and Tua Tagovailoa will both be free agents in 2025 without an extension.
Both of those guys are essentially a lock to be extended before free agency, however.
Because of the recent extensions for guys like Trevor Lawrence and Jared Goff, you can expect both Love and Tagovailoa to surpass their numbers.
Trevor Lawrence's $55 million new-money average on his contract extension, per @RapSheet, matches Joe Burrow as the NFL's highest-paid player.
Next up: Jordan Love, Tua Tagovailoa and pending free agent Dak Prescott … pic.twitter.com/zk9F72CqAV
— Tom Pelissero (@TomPelissero) June 13, 2024
The Jaguars paid their signal caller a record-tying $55M per year, and the Lions gave Goff $53M.
Essentially, this is all setting up for the next guy to become the new record holder.
It also means Prescott is not the most likely guy to become the first $60M per year player.
Both the Dolphins and Packers seem hell-bent on getting a deal done with their leaders before this season starts.
Jordan Love was asked today if he's optimistic his extension could get done before camp starts.
"Yes."
What makes him optimistic?
"It's what I've heard."
— Matt Schneidman (@mattschneidman) June 11, 2024
The Cowboys, on the other hand, are playing the waiting game with all of their extension-eligible players.
There has been some smoke that they want Prescott extended before free agency.
But, it’s nothing as concrete as what Green Bay and Miami are saying.
I do believe in the end the Prescott contract extension will happen before the season.
Unfortunately, that will likely be after Love and Tagovailoa get paid, meaning his price will be even higher.
If both of those guys get $60M a year before Prescott, as I believe they will, you can expect Prescott to demand at least that from Dallas.
Prescott is as close to a lock as there can be to have the highest salary per year in NFL history, a few guys might get that title before he does, however.
