Why the Dallas Cowboys must extend Dak Prescott now

For the Dallas Cowboys and quarterback Dak Prescott, a contract extension is a matter of when, not if. Here’s why it must happen sooner than later.

The Dallas Cowboys and quarterback Dak Prescott will, at some point, finalize a new contract. It is not a matter of if, but when. Whether you like it or not, Prescott will be the Cowboys’ quarterback for quite some time.

Whatever you might think that contract will look like, I can guarantee you the numbers will be astronomical. Here are the facts.

Since Dak became the starting quarterback, Week One of the 2016 season, Prescott has done nothing but put himself in rare air.

• Only the Patriots Tom Brady (38) and the Steelers Ben Roethlisberger (33), have more regular season wins than Prescott’s 32.

• Prescott’s 86 total touchdowns since 2016 ranks eighth best. Of the other seven quarterbacks above him, only Packers quarterback Aaron Rodgers (15) and Brady (21) have less than Dak’s 25 interceptions.

Let’s also take this moment to remind you that Prescott turns 26 in July. Brady is 42, while Roethlisberger and Rodgers are both 36 or older. All of this points to the fact that Prescott is about to get a huge contract. What he deserves and what the Dallas Cowboys will pay him are probably not that far from each other.

Currently, nine quarterbacks average $25M or more per year. Only the 49ers Jimmy Garoppolo and the Raiders Derek Carr are under the age of 30. Four of the nine are 34 years or older. Recently, the Seahawks Russell Wilson reset the market, becoming the highest paid player in the NFL earning $140M with $70M guaranteed. While Prescott is not worth that much, he’s not far from it either.

Using Wilson’s deal as a ceiling and the Garoppolo ($137M total/$48.7M guaranteed) /Carr ($125M total/$40M guaranteed) deals as a floor, it’s safe to assume Prescott is going to be the next $30M per year quarterback in the NFL. If the Dallas Cowboys are smart, they’ll make that happen sooner rather than later for two very important reasons.

You want to get ahead of the market and not let the market dictate your price. Wilson is already in the clubhouse counting his money. Dak, Drew Brees, Philip Rivers, James Winston and Marcus Mariota are all free agents next year.

The following year, Cam Newton, Jared Goff, Carson Wentz, Patrick Mahomes and Deshaun Watson are all set to cash in. Only Newton, Rivers and Brees are older than Prescott. You do not want the others to set Dak’s price for you if you’re the Cowboys.

Mahomes will almost certainly be the highest paid player whenever he inks his new deal. Goff and Wentz will eclipse $30M for sure. Brees and Rivers will too, unless they take less money based on how much they’ve already banked in their careers. Newton and Watson could as well.

You want to send a message to your team that you take care of those who earn it. We all know there are a few others players on this team set to get paid as well. Paying Prescott sends a clear message. If you perform, you will be taken care of appropriately.

Running back Ezekiel Elliott, receiver Amari Cooper, right tackle La’el Collins, cornerback Byron Jones and linebacker Jaylon Smith all have expiring deals after this year. All of the deserve new deals. Paying Prescott first, possibly even back-loading but guaranteeing a significant portion of it, allows you to do so. It also shows outside free agents that you’re locked in for the next five years at the game’s most important position.

The bottom line is Dak Prescott is about to be a very rich man. I think the Dallas Cowboys would be wise to offer him five years and $150M, with $90M guaranteed but structured in a way that he gets $20M each in years one and two. This would allow you room to sign the other guys above, except for either Collins or Jones and still keep the team relatively cap healthy.