Dallas Cowboys quarterback Dak Prescott plans to sign his $31.4 million exclusive franchise tender by Monday, a source told ESPN’s Adam Schefter.
The two sides still have until July 15 to work out a long-term deal. The Cowboys had placed the franchise tag on Prescott on March 18.
By signing his franchise tender, Prescott will be contractually forced to report to training camp on time, whether or not he and the Cowboys can figure out a long-term deal.
Prescott’s decision to sign the franchise tender is not an indication that a long-term agreement is close, league sources told ESPN’s Ed Werder. The fact that Prescott will be one of the highest-paid players in the NFL — and the potential his franchise tag increases by a obligatory 20% next season to $37.7 million with a flat or lower cap in 2021 — is incentive for Dallas to secure a long-term deal before the July 15 deadline.
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This offseason, the Cowboys made a long-term offer to Prescott that would put him among the highest-paid quarterbacks in the NFL, ESPN’s Todd Archer previously reported. Seattle’s Russell Wilson is the highest paid at $35 million per campaign, followed by Pittsburgh’s Ben Roethlisberger at $34 million.
Cowboys owner and general manager Jerry Jones and executive vice president Stephen Jones have repeatedly expressed their belief that Prescott is the team’s quarterback of the future and capable of leading the franchise back to a Super Bowl.
Prescott, who turns 27 on July 29, has said on multiple instances that he never wanted to leave the Cowboys.
Prescott completed 388 of 596 passes for 4,902 yards and 30 touchdown passes last season. Despite career highs in yardage and touchdowns, Prescott had his worst record as a starter (8-8) as the Cowboys missed the playoffs. His growth as a passer, however, was obvious as the Cowboys had two 1,000-yard receivers in Amari Cooper and Michael Gallup.
In his four seasons, Prescott ranks among the top five quarterbacks in victories (40), passing touchdowns (97), rushing TDs (21) and Total QBR (68), becoming one of the NFL’s biggest bargains. He earned $4 million in salary and signing bonus the past four seasons.
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