Dak Prescott Rumors: Latest On Cowboys Contract Negotiations

If the Dallas Cowboys want to keep Dak Prescott from hitting the open market, they better act fast.

After spending literal years dawdling at getting a deal done, it’s coming down to the wire for the Cowboys.

But now, more so than ever, the two sides are making progress, according to The Dallas Morning News’ Calvin Watkins.

“With the deadline for the Cowboys to place the franchise tag on quarterback Dak Prescott a week away, multiple sources said Tuesday night talks for a new contract are progressing. One source characterized discussions as ‘more productive than they have been’ in previous months,” Watkins wrote.

The Cowboys have a few options. Dallas could hit Prescott with the franchise tag by March 9, which would pay him $37.7 million for the 2021 campaign, while giving them the chance to continue negotiating until July 15.

Or, they could do nothing and allow him to become a free agent March 17.

Then, of course, there’s the likely preferable option of reaching an extension before the start of the new league year, that way Prescott has some long-term security while the Cowboys don’t have to worry about him signing elsewhere.

Prescott is working his way back from a devastating ankle injury, but reportedly could be back at 100 percent by April.