Monday and Tuesday at The Star brought a wave of excitement and relief for Dallas Cowboys fans, sealing a pivotal move with the signing of 2023 All-Pro wide receiver CeeDee Lamb to a four-year, $136 million extension. This crucial deal puts an end to Lamb's holdout, ensuring that one of the NFL's premier pass-catchers will stay with the team for the foreseeable future.
The focus for the Cowboys now shifts to another cornerstone of their offensive lineup: quarterback Dak Prescott. Prescott, an instrumental figure in the team's recent successes, is entering the final year of his contract in 2024. His remarkable performance in 2023, leading the NFL with 36 passing touchdowns, underscores his value to the team.
Prescott's Contract Situation
Prescott's current contract includes both a no-franchise tag and a no-trade clause, giving him significant leverage in the upcoming negotiations. Without an extension, Prescott will hit the open market by March 2025—a scenario the Cowboys seem keen to avoid.
In terms of future planning, none of the Cowboys' current quarterbacks, including backups Cooper Rush and Trey Lance, are under contract for 2025. This adds another layer of urgency for the team to secure Prescott's services beyond 2024.
Financial considerations will be paramount in these contract discussions. The market for elite quarterbacks has set a high benchmark, with Trevor Lawrence, Jared Goff, and Jordan Love holding contracts that average $55 million per year. The Cowboys currently have $39.6 million in effective cap space for 2025 and a projected $160.1 million in cap space for 2026, providing some flexibility but also imposing constraints.
Ownership's Perspective
Jerry Jones, the Cowboys' owner, emphasized the immediate priority of the upcoming season opener against the Cleveland Browns. “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,” Jones stated.
However, the significance of securing Prescott cannot be understated. Jones, aware of the monetary intricacies, remarked, “The money and all that will take care of itself as it always has,” reflecting a long-term vision combined with a pragmatic approach to cap management.
Team and Player Perspectives
CeeDee Lamb, fresh off his new deal, expressed optimism about Prescott's future with the Cowboys. “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,” he said.
Prescott, too, appears to be in sync with the broader strategy. “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,” Prescott commented, showing his trust in the negotiation process. He added, “The money and all that will take care of itself as it always has.”
Financial Strategy
Operating under salary cap restrictions remains a complex and risky endeavor. Jerry Jones highlighted the zero-sum nature of the NFL's financial ecosystem: “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 further explained the balancing act involved in roster construction: “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.” Reflecting on past experiences, he acknowledged, “Sometimes it’s worked out really well. Sometimes taking those risks will bite you.”
Since purchasing the Cowboys in 1989, Jones has navigated numerous contract negotiations, and this one with Prescott will test his skill and experience once again. As the season approaches, all eyes will be on how the Dallas Cowboys manage not only their immediate on-field priorities but also the crucial off-field contract dynamics that could shape the franchise's future.