The Wednesday afternoon deadline for the Dallas Cowboys to sign franchise quarterback Dak Prescott to a long-term contract has passed. Instead, Prescott will play on a one-year contract worth $31.4 million guaranteed for the 2020 NFL season.
Prescott signed his exclusive franchise tender last month, which guarantees him an amount that is no less than the average of the top five salaries at his position. The deal grants the Cowboys exclusive negotiating rights with the two-time Pro Bowl quarterback and is good for only the 2020 season.
Multiple sources reported the Cowboys offered Prescott a five-year contract in March and that no substantive progress was made since.
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Prescott reportedly favors a four-year contract, which would allow him to become a free agent sooner, and a deal that offers more guaranteed money than the Cowboys have apparently offered to date.
Prescott has started all 67 regular season and postseason games the Cowboys have played in his four years in the NFL, going 40-24 and twice reaching the playoffs. He burst onto the scene as a rookie in 2016, leading the team to a 13-3 mark.
The Mississippi State product set career highs in 2019 with 4,902 passing yards and 30 touchdown passes.
After 2020, Prescott will either become a free agent, sign an extension with the Cowboys next summer, or be placed under the franchise tag a second time.