Report: Cowboys, Prescott expected to negotiate new deal in offseason

The Dallas Cowboys are expected to negotiate a new contract with quarterback Dak Prescott this offseason, sources told Ian Rapoport of NFL Network.

Prescott has one year remaining on the four-year, $160-million contract he signed in 2021. The contract carries a cap hit of $59.4 million in 2024, per Over The Cap, which includes a no-trade and no-tag clause.

The new deal is expected to make him one of the highest-paid players in the NFL and structured to lower his 2024 cap hit, Rapoport adds.

Prescott is arguably playing the best football of his career in 2023. He boasts 3,408 yards with 28 touchdowns and only six turnovers through 12 games. He leads the league in QBR (75.5) while ranking second in passer rating (108.3) and completion percentage (70.1).

The 30-year-old has elevated his play to new heights since the team's 42-10 loss in Week 5 to the San Francisco 49ers. Prescott has led all quarterbacks in EPA per play since that contest, per Ben Baldwin's database.

In the first five games of the season, Prescott averaged 6.6 air yards per attempt, compared to nine air yards per throw over the last seven games. His ability to push the ball down the field has helped Dallas' offense lead the league in points per game.

The Cowboys are sitting at 9-3 and will face off against the Philadelphia Eagles on Sunday Night Football in Week 14.

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