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Spotrac projects Cowboys making Dak Prescott $60M man with 3-year extension

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Dak Prescott signed a deal in March 2021 that made him a $40 million man. Now he could be looking a new extension that makes him the league’s first $60 million man.

That’s the latest projection from Spotrac, anyway. The outlet believes the Cowboys will make good on EVP Stephen Jones’s claim from Tuesday that binding the 30-year-old quarterback to the roster is the front office’s top priority this offseason. To do it- and also avoid a debilitating $59.5 million cap hit- they’ll likely have to tread into uncharted financial waters.

Cincinnati’s Joe Burrow is currently the clubhouse leader when it comes to average annual salary, at $55 million. The Chargers’ Justin Herbert, Baltimore’s Lamar Jackson, and Philadelphia’s Jalen Hurts all top $50 million as well. In fact, 11 quarterbacks now make as much as or more than the $40 million per year that Prescott signed for (to wild protests and much gnashing of teeth from many within the fanbase) just three years ago.

Spotrac’s guess for Prescott’s new deal is a three-year extension worth $180 million. Of that, $119 million would be fully guaranteed at signing, with a total of $169 million guaranteed for practical purposes. Prescott would get an unprecedented $75 million signing bonus and an average annual salary of $60 million.

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Such a deal would see Prescott take home a whopping $76.2 million in 2024, $59.5 million in 2025, $54.6 million in 2026, and $53.5 million in 2027, setting 2028 as a void year with a $15 million cap hit. The three-time Pro Bowler will be 35 when the ’28 season begins.

All of that would lower the team’s cap hit for 2024 to $41.6 million, a savings of almost $18 million.

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But the clock is ticking. Miami’s Tua Tagovailoa, Green Bay’s Jordan Love, Minnesota’s Kirk Cousins, and Jacksonville’s Trevor Lawrence are among the quarterbacks also up to establish new paydays this offseason. And any of them getting a deal done with their respective teams before the Cowboys come to terms with Prescott could change the math.

Now, the Cowboys typically don’t do short-term deals like Spotrac’s three-year projection. But they suddenly find themselves in a pivotal moment with a team that is still, realistically, in the conversation as a Super Bowl contender. But not if they start over at the most important position on the field.

And that means Prescott may be about to find out very soon exactly what “all in” really means to the Joneses.

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