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With Patrick Mahomes in negotiations for new deal, the Dak Prescott deadline is even more important

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Dak Prescott’s price tag is only going to get higher if a deal does not get done soon.

Washington Redskins v Dallas Cowboys Photo by Richard Rodriguez/Getty Images

The Dak Prescott and Dallas Cowboys contract talks have been a huge topic this offseason, and the number of days are dwindling until the July 15th deadline.

Prescott has a very strong argument as the best quarterback from the 2016 NFL Draft class, which also includes Rams quarterback Jared Goff (taken first overall) and Eagles quarterback Carson Wentz (taken second overall). Both Goff and Wentz have received contract extensions, but Prescott, the 135th selection of the same draft, is still negotiating his deal.

Wentz was the first of the three quarterbacks to receive a new deal from the team that drafted him, signing a four-year, $128 million extension with $66 million in guarantees last summer with the Philadelphia Eagles. The Rams followed the Eagles’ lead and inked their franchise signal quarterback to a four-year, $134 million extension with a whopping $110 millon in guarantees prior to the 2019 season.

Meanwhile, Prescott decided to bet on himself and play out the final season of his rookie contract. The Cowboys failed to make the postseason, but Prescott had his best statistical season in the NFL as he threw for nearly 5,000 yards, accounted for 33 touchdowns, and was the engineer of the league’s second best passing offense.

Prescott is currently set to play the upcoming season under the franchise tag, but the Cowboys have until the July 15th deadline to get a long-term deal done before that goes into effect.

With the news today that Patrick Mahomes is in talks with the Kansas City Chiefs regarding a contract extension, it would be very beneficial for the Cowboys to go ahead and wrap up a deal this offseason rather than taking their chances a year from now.

There is no denying that Mahomes is on a different planet when it comes to quarterbacks in the NFL. The Texas Tech product already has a regular-season MVP, a Super Bowl MVP, and a ring after just two seasons as the Chiefs’ starting signal caller.

Still, Mahomes’ eventual deal will only increase the market for quarterback contracts. This is not to say that Prescott, or any other quarterback due for a new contract, will match Mahomes’ numbers, but it won’t lower the number either. This is especially true with Deshaun Watson and Lamar Jackson also likely to receive contract extensions sometime in the relatively near future.

For the Cowboys, it would be very smart to find a way to get a deal done this offseason with their franchise quarterback before the middle of July rather than taking their chances with how things will go next year.

With Prescott coming off his best individual season in the NFL, and Mike McCarthy — a well-respected quarterbacks coach — now leading the Dallas Cowboys, plus the addition of CeeDee Lamb to a talented offense, the number could go up for Dak after the 2020 season.