Cowboys News: Dak Prescott contract, Ezekiel Elliott reunion, Stephon Gilmore update

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New England Patriots v Dallas Cowboys / Richard Rodriguez/GettyImages
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For the second time in his five seasons as Dallas Cowboys head coach, Mike McCarthy is forced to navigate a prolonged contract extension involving his quarterback. After initial reports hinted that Dak Prescott and the Cowboys would reach an agreement before free agency, it's suddenly possible that the team has a new quarterback as soon as 2025.

According to NFL Network's Ian Rapoport, the Cowboys have not offered Prescott a contract and both sides have an understanding of his situation. This has seemingly cleared a pathway for Prescott to hit free agency next offseason.

This concerning update comes in light of Dallas converting Prescott's $5 million roster bonus into a signing bonus to clear $4 million off his cap number. The number is still a crippling $54.44 million, but the move needed Prescott's approval. The collaboration was a sign of optimism that they'd eventually agree to a new deal.

Now, it seems the Cowboys and Prescott decided the best path forward is to play out the final year of the deal and figure things out in 2025.

Dak Prescott contract talks hit snag, Cowboys QB could hit free agency in 2025

Of course, it's possible Prescott gets re-signed before ever reaching free agency. The Cowboys wield that power, but it's still a baffling negotiation tactic to prolong contract talks. Depending on how many QBs ink new deals between now and then, Prescott's value could surge from $60 million per year to $65 million.

The important thing to remember is that Prescott still has all the leverage and despite the lack of urgency, the door remains open for a deal to get done this offseason, during the 2024 season or early in the 2025 offseason.