The Cowboys finally locked up their franchise quarterback, rewarding Dak Prescott with a 4-year extension worth $240 million. Nearly the entire amount ($231 million) was guaranteed. This keeps their star signal caller in Dallas through 2028.
Dak Prescott’s historic contract extension:
— Jess Nevarez (@JessNevarez_) September 8, 2024
🏈 Four years
🏈 $240 million
🏈 $231 million guaranteed
🏈 $60 million per year (the first $60 million player in NFL history)
🏈 The highest-paid player in NFL history
A Dallas Cowboy for life… here we goooooo! pic.twitter.com/d0lKHz6jp8
After signing top receiver CeeDee Lamb to a massive 4-year extension worth $136 million, many wondered if a deal could be done for Prescott. Instead, the Cowboys emphatically responded with a historic agreement. The team is investing nearly $100 million a year in the Prescott-Lamb duo. How will this pan out for the next four years?
Dak Prescott Locked In
The Cowboys have skirted around endorsing Prescott in the past, and their failure to advance in the playoffs has fallen squarely on Prescott’s shoulders. He has been the primary starter for seven of the last eight seasons. Dallas made the playoffs in five of those seven but didn’t advance past the division round in any of their appearances.
Prescott hasn’t been a world-beater for fantasy, cracking the top 10 in fantasy points per game (ppg) 4 times over the 9 seasons he’s been in the league. One season is omitted from consideration, the 2020 season, as he only played five games. Prescott did finish as the QB3 in the 2019 season and was QB5 last year.
It’s also worth noting that from 2020 through 2023, Dak Prescott has averaged 21 ppg with Lamb in the lineup. That number would put Prescott in the QB4-6 range over those seasons. The production has been there in the regular season, and now it’s time to win in the playoffs.
In a recent interview reported on DallasCowboys.com, Prescott said, “That’s what motivates me on being here, just to be the quarterback that does it, that wins it. I don’t think that winning it any other place would be the same as winning it here.”
He also stated that money didn’t motivate him, and Prescott gives the impression that the playoff futility is what drives him.
Prescott is now locked in financially until after his age-35 season. Quarterbacks don’t fall off typically much at that age, and he could be due for another extension in 2027 or before 2028. Who knows what the QB market will be? We could be nearing $80 million a year!
CeeDee Lamb Locked In
Locking in CeeDee Lamb had to influence Prescott’s decision. The Cowboy’s brass was willing to reward each of them as a top player at their position, showing commitment to what they are building. Lamb was the WR1 last season in point per game (23.7) and has established himself as one of the top three receivers in fantasy.
Lamb is locked in at least through 2027, with a potential out after that season even though his contract goes through 2028. That is Lamb’s age-29 season, and he should still be in his prime, barring injuries. He could also be up for another extension around 2027, but the Cowboys have to feel really good about having Dak Prescott and CeeDee Lamb set for the next couple of seasons.
Is There Money Left for the Rest of the Roster?
That’s the first thing I thought of! With nearly $100 million in 2 players, what about the other 20 starting positions? The salary cap is currently set at just over $255 million, and the Cowboys are near $250 million, leaving some wiggle room, even with Prescott’s $55 million cap hit this season.
The cap increases by nearly $20 million in 2025 and projected for almost another $20 million in 2026 ($292 million). The Cowboys are projected to be right in the middle every season and currently would still have over $180 million available on the books in 2026.
DeMarcus Lawrence‘s massive contract expires in 2025 when he will be 34-years old. Long-time guard Zack Martin will be a free agent after 2025 at the young age of 35. Both players will likely not be resigned; if they do, it may be at a discount.
The offensive line may need some attention, and free agency could be an avenue the team needs to take. The line is aging and needs an infusion of talent.
The defense is strong, and Micah Parsons is due a gigantic extension next. He will likely command the largest non-QB contract in league history. The Cowboys can’t afford to let Parsons walk, so will they be able to pay him?
The team will still be able to afford him, especially as the older players on contracts expire. The team can continue to maintain with rookies and inexpensive veterans like Ezekiel Elliott, Eric Kendricks, and Brandin Cooks.
Super Bowl or Bust
The Cowboys are pushing all their chips in, so the time to win is now. Prescott and Lamb give them one of the best duos in the NFL, and their defense is stout. This Dallas team has all the pieces to make a run in the playoffs.
The question remains: Will it be enough to get past the 49ers, Lions, and Eagles?
