Dallas Cowboys quarterback Dak Prescott signed his franchise tender on Monday.
Prescott is under the tag through the 2020 season, guaranteeing him $31.4 million in salary. Now, the Cowboys and Prescott have until July 15 to reach a long-term deal.
The Cowboys do have an offer on the table for Prescott that would make him the second-highest-paid quarterback in the NFL behind Russell Wilson, according to Todd Archer of ESPN. Prescott is currently the seventh-highest-paid quarterback in the league.
Prescott has said that he doesn’t want to leave the Cowboys. Plus, there is incentive for the Cowboys to get a long-term deal done. If Prescott agrees to a multi-year deal, his cap charge for 2021 would be lower. It would increase if a deal isn’t reached.
Dak Prescott signing his $31.4M franchise tag should not decrease team’s interest in securing multi-year deal. That would lower cap charge. Otherwise it goes up in 2021. League source: “They don’t want a $37M player next year on a shrinking cap so there’s plenty of incentive.”
— Ed Werder (@WerderEdESPN) June 22, 2020
“Their problem is the second year because this salary cap is going to crash unless there’s an intermediate deal. They would have to gut their team to keep him then. So there’s even more incentive for the Cowboys to do a long-term deal with Dak because of the coronavirus and where the cap might be next year,” a Cowboys source told ESPN.
Prescott signing the franchise tag is a good thing since the Cowboys have a new head coach in Mike McCarthy. Last year, he threw for 4,902 yards and 30 touchdowns and had almost 300 yards on the ground and three rushing scores.
