Cowboys let him play out his current deal.

Dallas Cowboys have made a smart decision on quarterback Dak Prescott’s deal, choosing for a “modest kicking of the salary-cap can in 2024.” Prescott’s contract will expire in 2024, with a hefty cap figure of $55.455 million. The Cowboys appear to have no immediate intentions to extend his contract or deploy the franchise tag in 2025, indicating that they are content to let him finish out the current agreement.

The team’s decision represents a shift in leverage, as Prescott would have had the upper hand if the Cowboys were forced to sign him to an extension. However, by waiting to see how things play out, the Cowboys may have hampered Prescott’s ability to negotiate a market-value deal. This strategy could eventually lead to Prescott testing the open market in 2025, where his talents will be prized by other clubs.

The big question is how much other clubs will be willing to pay Prescott. Similar to Kirk Cousins, who signed a $45 million contract with the Falcons after leaving the Vikings.

Prescott’s cap number suggests he could earn $55 million per year, although this is $10 million less than the current high-end average. The Cowboys’ decision to wait and see may result in another team making an offer, determining Prescott’s market value.

Dak’s future in Dallas is in doubt

If Prescott leaves, he will still count for more than $50 million against the cap next year, so the Cowboys should re-sign him before this happens to better control the financial ramifications. However, for the time being, the organization has decided not to let the fear of Prescott’s cap number or possible departure push them to pay more than they are willing to.

Prescott will have to make a decision next March: accept the Cowboys’ best offer or seek a new team with a potentially lesser national profile. The first step in this situation is for another team to offer him more money than the Cowboys are willing to pay.

In summation, the Cowboys’ decision to wait and watch how things play out has the potential to change the dynamics of Prescott’s contract discussions, paving the way for an exciting offseason in 2025.