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Dak Prescott contract updates Will Cowboys beat deadline sig

Welcome to Dak Prescott contract week. The deadline for the Cowboys to sign their 26-year-old franchise quarterback to a long-term contract is fast approaching, and updates are worth monitoring, because the hours leading up to 4 p.m. ET on Wednesday could significantly Iman Marshall Jersey alter Dallas' salary cap situation.

After roughly a year of contract talks with Prescott but no agreement, the Cowboys in March to keep him away from free agency. Last season was the fourth and final yearof the rookie contract Prescott signed after Dallas selected him in the fourth round of the 2016 NFL Draft.

Prescott last month, so one of two things will happen this week. Either Prescott and the Cowboys will agree to a long-term contract by Wednesday's deadline, or the QB will play the 2020 season (a suming there is a full season) on the franchise tag.

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If Prescott plays the season on the tag, he will account for $31.4 million (his fully guaranteed salary) of Dallas' salary cap space. Which is part of the reason the Cowboys should be pushing to get a deal done before the deadline.

Below is all you need to know about Prescott's situation on the franchise tag as the Cowboys' deadline to sign him to a new contract approaches, including the latest updates on negotiations.

Dak Prescott contract deadlineDate: Wednesday, July 15Time: 4 p.m. ET

When the Cowboys in mid-March, they gave themselves roughly four months to sign the QB to a long-term contract before they would have to pay him $31.4 million for one year.

Below is the NFL's official language on the deadline for teams to sign tagged players to long-term contracts:

“At 4:00 p.m., Nico Siragusa Jersey New York time, deadline for any club that designated a Franchise Player to sign such player to a multiyear contract or extension. After this date, the player may sign only a one-year contract with his prior club for the 2020 season, and such contract cannot be extended until after the clubs last regular season game.”

Prescott last month, a suring that he willearn the full $31.4 million in 2020 if he doesn't agree to a long-term deal with the Cowboys by Wednesday.

Will the Cowboys sign Dak Prescott to a new contract before the deadline?

In theory, there's a better chance for a deal now than there was a week ago, before the Chiefs signed Patrick Mahomes to that could pay him up to $503 million over 12 years. Now the Cowboys and Prescott have something they didn't have before parameters.

Prescott of course will not get the $45 million per year in new money Mahomes is getting, but now the QB market has been reset. Dallas was reluctant to be the team to reset the market with Prescott, so that's no longer an i sue.

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The hold-up on the Prescott deal reportedly has been the Cowboys wanting to sign the QB to a five-year contract and Prescott wanting a four-year deal. (Prescott wants to hit free agency again sooner rather than later so he can capitalize on what's expected to Jaylon Ferguson Jersey be a larger league-wide salary cap.) But the Mahomes deal, a 10-year extension, moves some leverage to the Cowboys' side. If he can agree to 10 years, can't you agree to five?

And if Prescott can land a better average annual salary than the$35 million he reportedly has been seeking, perhapshe will agree to that fifth year.

In the first five years of his new contract, Mahomes will earn an average of roughly $39 million per year. So the Prescott camp can take that figure to the Cowboys and use it as a parameter. OK, we'll agree to that Shane Ray Jersey fifth year if you give us, say, $37 million per year rather than $35 million per year.That would be an ideal compromise for both sides.

Another factor that favors the completion of a long-term contract for Prescott and the Cowboys is the idea that deadlines spur action.

However, recent reports indicate Prescott signed the franchise tender last month because he had a sumed no deal would be made, and that there have been little-to-no discu sions in the days leading up to the deadline.

Regardle s, both sides are well aware that the lack ofan agreement by Wednesday afternoonwill favor Prescott.

The referenced media source is mi sing and needs to be re-embedded.What if the Cowboys don'tsign Dak Prescott to a new contract before the deadline?

For 2020, at least, the answer is simple. If the Cowboys and Prescott don't agree to a long-term contract by Wednesday's deadline, he will play the upcoming season on the franchise tag and earn . It would be by far the in the NFL for 2020.

Things would get more interesting after the season, when Prescott again would become eligible for an extension. The Cowboys would be in the same boat they were in early this year, wanting to extend their quarterback but having the tag as a tool to keep him away from free agency.

As Kirk Cousins can explain, that would be the best-case scenario for Prescott, a suming he can stay healthy through 2020 on the tag. Cousins is the generic case study for QBs and the franchise tag, because from 2016-20, he (137.9 million) than anybody else in the NFL in part because Washington franchise tagged him two years in a row.

NFL rules state that, fora player to be franchise-tagged two straight years, the team must Hayden Hurst Jersey pay 120 percent of the player's previous salary. If it's three straight years, the team must pay the player 144 percent of his previous salary.

So, as Spotrac points out, if Prescott were to be tagged again in 2021, he would earn over the next two years. Mahomes will make just $33.6 million in that time period.

A suming the Cowboys eventually will sign Prescott to a long-term deal, the longer it takes, the more the QB will earn.

Dak Prescott contract updates

From NFL Media's Ian Rapoport on Tuesday: “The Cowboys andDak Prescott and no further talks are scheduled. … It can all change with a phone call. But .”

From NFL Media's Jane Slater on Tuesday: Things are still “” in Dallas regarding a po sible Dak Prescott contract extension.

From ESPN's Todd Archer on Monday: “Despite Wednesdays deadline to sign Dak Prescott to a long-term deal, there are between the Dallas Cowboys and the quarterbacks agent, Todd France, according to multiple sources. While Alex Lewis Jersey things can change quickly with a simple phone call, there was expected to be more urgency in getting a deal done that would lock the team and Prescott together for the long term while making the quarterback one of the highest paid quarterbacks in the NFL.”

From NFL Media'sJane Slater on Monday: “Asource informed tells me that (a deal)will be reached. Its Monday so things can change but thats where the situation sits currently.”

From the Dallas Morning News' Calvin Watkins on Sunday: “Situation could change before July 15 deadline but a source said Sunday afternoo

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