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Dak Prescott will play the 2024 season under the final year of his $160 million contract extension with the Dallas Cowboys. The team will not offer him a contract extension and will revisit their partnership next offseason.
Prescott’s contract expires after 2024, so he will be free to sign with other teams while the Cowboys don’t get anything in return. However, ESPN NFL insider Adam Schefter thinks the Cowboys might have a plan if Prescott leaves in 2025.
Schefter said in the April 9 episode of NFL Live:
“What are they going to do at quarterback if they lose Dak? That’s interesting. And that’s why I think the Dallas Cowboys just might be a sleeper team in the quarterback market in the NFL Draft.”
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The Cowboys will have seven picks in the 2024 NFL Draft, including a first-rounder. But by the time they are on the clock in Round 1, the top quarterback prospects like Caleb Williams, Jayden Daniels, and Drake Maye might be off the board.
There are speculations that teams like the Minnesota Vikings, Denver Broncos, and Las Vegas Raiders are looking to trade up for quarterbacks like J.J. McCarthy or Bo Nix. If the Cowboys go this route, they might lose significant draft capital for this season.
However, giving up picks will diminish their capability to address other roster spots of concern. Sportskeeda’s Mock Draft Simulator shares that the Cowboys need an offensive tackle after Tyron Smith signed with the New York Jets.
Dallas can use upgrades at running back after Tony Pollard’s departure and at center after Tyler Biadasz joined the Washington Commanders. On defense, the Cowboys must address their depth charts at linebacker, cornerback, safety, and defensive tackle.
Despite those scenarios and considerations, Schefter added that the Cowboys must find Dak Prescott’s successor, whether in the 2024 draft or soon after:
“Because, at some point in time, they might have to draft a quarterback, higher than you’d think, at some point in time, because Dak is going into the last year of the contract, and it might be time to get somebody in there to start grooming. Just like they found Dak Prescott in Round 4, it might be time to go find another quarterback, in another round, to begin getting him ready.”
Cowboys will absorb Dak Prescott’s massive 2024 cap count
Since Dak Prescott will play the 2024 NFL season without a contract extension, the Cowboys will absorb any remaining cap hits from his four-year, $160 million deal.
That’s why, per Spotrac, the former Mississippi State standout will count for $55.4 million against the $255.4 million salary cap for 2024. That includes his $29 million base salary, $13.2 million from his pro-rated signing bonus, and $13.25 million from contract restructuring.
Releasing him won’t help because Dallas will incur a $66.9 million dead cap, which could be the second-highest dead money after Russell Wilson’s $85 million with the Broncos.
