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Dak Prescott is helping out the Dallas Cowboys as he still awaits a long-term extension from the team.
Both sides agreed to rework the quarterback’s contract for the 2024 season, converting a $5 million roster bonus into a signing bonus, ESPN reported Monday. With the move, Prescott’s cap number for the upcoming season was lowered to $55.455 million, opening $4 million in cap space for the Cowboys.
However, the restructure also adds two more void years to Prescott’s contract, giving him four void years total that run through the 2028 season. Prescott is entering the last season of his deal, so if the two sides are unable to agree to a new deal and the star quarterback leaves in free agency next offseason, the void years will count as a dead cap hit for the Cowboys.
The contract restructure doesn’t preclude the two sides from negotiating an extension. With the addition of two more void years, the Cowboys could be more incentivized to get a deal done with Prescott to avoid having dead cap charges for the foreseeable future as they also work to keep a few other notable names in Dallas.
Prescott and the Cowboys have both said that they aim to get an extension done this offseason, so he isn’t playing in a contract year, which isn’t too frequent for an established starting quarterback. The Cowboys have done that twice in the past though with Prescott, giving him the franchise tag twice after his rookie deal expired before agreeing to a four-year, $160 million deal in 2021.
Earlier in March, Prescott was optimistic that the two sides would agree to an extension.
Should Cowboys fans be worried about a potential Dak extension?
“I’m definitely confident,” Prescott said on his contract situation. “Obviously, it helps the team. It’s important for the numbers. I think I’ve heard Jerry [Jones] say that. … It is a process. Both sides understand that. Everything’s great.
“It’ll happen.”
Jones seemed hopeful that an extension will get done at some point as well,…
Source link : https://www.foxsports.com/stories/nfl/awaiting-extension-from-cowboys-dak-prescott-restructures-deal-creates-cap-space
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Publish date : 2024-03-18 13:35:57
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