There is an expectation Cowboys quarterback Dak Prescott will sign an exclusive franchise tag tender on Monday, according to sources, thus ensuring he will be in training camp when it opens.
Prescott’s decision to sign the tender before the July 15 deadline for a long-term deal will earn him the highest-base salary in the NFL at $31.4 million. The move can be viewed in various ways:
1. The two sides are not close to a deal, so Prescott decided to get his money now.
As it stands, the Cowboys have offered Prescott one of the largest contracts in league history. Sources have said the Cowboys’ offer to Prescott would give him more guaranteed money than what the Los Angeles Rams’ Jared Goff received ($110 million) and is just second in average salary to Seattle’s Russell Wilson ($35 million). Wilson has the highest average salary for a quarterback in the NFL, and Goff has the most guaranteed money.
The deals Wilson and Goff signed were four-year extensions in new money. Prescott is seeking a four-year deal, while the Cowboys’ offer is five years. The one-year difference is one of the sticking points in getting a deal completed.
2. The two sides are close to a deal.
If the Cowboys agree to a four-year contract or Prescott accepts a five-year deal, we’re in business. So why sign the tag? In case something breaks down during the course of the negotiations, Prescott has a total of $31.4 million waiting to get direct deposited twice a month over 17 weeks. By signing the tag, it eliminates any concerns about Prescott’s absence at training camp. The new CBA prohibits players from holdouts under contract, so if he didn’t sign the tag, Prescott could just chill in Prosper and wait. By signing it, he’s telling the Cowboys he’s coming to training camp, whenever it starts.
The Cowboys expressed a desire for Prescott to become a face of the franchise for a long time and when he signs the tag, it doesn’t end contract talks. The two sides have until July 15 to reach a deal, so more discussions will occur this summer. With Prescott’s 2020 season secured at least from a contractual standpoint, it takes a little pressure off the talks.
3. The future is uncertain due to COVID-19.
The NFL salary cap is $198.2 million for 2020, and regardless of what Prescott is paid this year, the team has room for that. But the future is uncertain. There’s a strong possibility the NFL season will be played without fans or a limited number in the seats because of the pandemic. The NFL salary cap is formed by revenue generated in various forms. One is revenue from gate receipts at NFL stadiums. If the 2020 season doesn’t produce enough income, then the salary cap for 2021 might get reduced.
Over the last 10 years, the salary cap has jumped an average of $10 million per year, and NFL teams project future salaries based on this. If the salary cap is lower in 2021 or 2022, that could impact Prescott’s future earnings. Prescott’s agent is aware of a possible lower salary cap in the future and getting the $31.4 million is smart business.
A source said the NFL has not spoken to the NFLPA about a lower salary cap in future years, but team executives and agents are monitoring the situations closely.
So the worry over whether Prescott signs the tender or agrees to a new contract should be lessened Monday. Prescott has always been committed to the Cowboys long term. He believed the Cowboys were a Super Bowl contender last season and has the same expectations in 2020. He’s not trying to play anywhere else. But he wants to be paid fair market value, and this is the tricky part of everything.
The signing of the franchise tag is the first step of getting everything accomplished and maybe turning an unsettled summer into one of calmness.
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