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Source: Cowboys have sent a new contract offer to Dak Prescott that is at least $33.5M annually

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Another update on a potential Dak Prescott deal.

NFL: Dallas Cowboys at Philadelphia Eagles Bill Streicher-USA TODAY Sports

The last seven days have featured a couple of updates regarding the numbers reportedly associated with what the Dallas Cowboys are offering Dak Prescott to be their quarterback for the foreseeable future. Last Monday, ESPN reported that the offer included $33M on an annual average value basis. Las Friday The Dallas Morning News reported that same yearly figure, but they also noted that the offer reportedly had $105M guaranteed. Neither of these figures would put Prescott inside the top three of his position.

It is now a new week and another, sort of, report has emerged. ESPN’s Todd Archer reported on Monday morning that with the franchise tag looming - Thursday is the deadline for teams to apply tags - the Cowboys are back at work with Prescott.

With the franchise tag deadline coming Thursday, the Cowboys have sent a new proposal to the agent of Dak Prescott in hopes of kick-starting talks on a multi-year deal, according to a source. Russell Wilson ($35 million) and Ben Roethlisberger ($34 million) have the highest average salaries followed by Aaron Rodgers and Jared Goff ($33.5 million). The Cowboys’ new proposal would likely at least be in the Rodgers and Goff neighborhood, if not more, since Prescott’s side turned down $33 million.

Where this particular report is different from what we’ve seen to this point is Archer notes that it is “likely” that the offer Dallas made to Dak is in the neighborhood of Aaron Rodgers and Jared Goff, incidentally both Cal quarterbacks by the way.

This point is obviously in relation to the annual average value as Rodgers is not among the top-paid quarterbacks as far as total guarantees are concerned.

Top 5 Quarterbacks by AAV (per OverTheCap.com)

  1. Russell Wilson....................... $35M
  2. Ben Roethlisberger............... $34M
  3. Aaron Rodgers...................... $33.5M
  4. Jared Goff.............................. $33.5M
  5. Carson Wentz........................ $32M

Top 5 Quarterbacks by Total Guaranteed Money (per OverTheCap.com)

  1. Jared Goff.............................. $110M
  2. Carson Wentz........................ $107.9M
  3. Russell Wilson........................ $107M
  4. Matt Ryan............................... $100M
  5. Aaron Rodgers....................... $98.2M

For the Cowboys to be “likely” near Rodgers and Goff means that they have upped their offer (assuming it was literally $33M per year). It’s possible that it is slightly higher than both Cal quarterbacks and that the Cowboys are therefore noting that they are putting Dak in the top three as far as highest-paid quarterbacks.

It is important to note that both Goff and fellow 2016 draftee Carson Wentz are signed through 2024. While they both signed four-year extensions an offseason ago, the reason for this is that 2020 is technically their fifth-year option year off of their rookie contract. Dak Prescott does not have a deal in place for this upcoming season which means the Cowboys would have to structure his extension to be a year longer than Goff and Wentz’s in order to put him on the same timeframe as them (remember that the earlier Dak hits free agency again the earlier the team will have to go through all of this again).

If the Cowboys truly want to lock down Dak for a year longer than Goff and Wentz’s extensions are then they are likely going to have to top Goff’s $110M in total guaranteed money as there is no incentive for Prescott to give up that extra year. Dallas might have to top that figure anyway because, as many have noted over this process, that is how the market works.