How Tua Tagovailoa's contract impacts Cowboys extending Dak Prescott

Some of the biggest contracts in NFL history have already been handed out in the 2024 offseason, and with every day that passes, the price on the Dallas Cowboys' biggest stars goes up. For quarterback Dak Prescott, the price is going up significantly by the day.

Prescott is in a tremendous situation after the Miami Dolphins extended franchise quarterback Tua Tagovailoa to the tune of $212.4 million over four years. Not only is that the largest contract in Miami Dolphins history, but it's the largest four-year contract in NFL history. The deal for Tua gives Prescott leverage in more ways than one.

First, and foremost, every quarterback that signs a new contract anywhere near the high end of the current market raises the floor for Prescott's next contract. Take a look at the highest average annual values on quarterback salaries right now:

What Tua Tagovailoa's extensions mean for Dak Prescott and the Cowboys

Tagovailoa just passed the $53 million per year mark, and there are two quarterbacks averaging $55 million per season on their latest deals. Dak Prescott has undoubtedly proven more than Trevor Lawrence and he's been more consistent (and more consistently available) than Joe Burrow. Obviously, this isn't Prescott's first major contract extension at the NFL, and the fact that he just turned 30 is somewhat of a factor, but not at the negotiating table.

Given the fact that deals are being signed for 3-5 year windows among these players, Prescott has every right to sit there and demand top of the market value, even exceeding the average annual salaries given out to the likes of Trevor Lawrence and Joe Burrow. There's no way Prescott will get less in average annual value than Lions QB Jared Goff, who signed a massive extension this offseason in Detroit. Goff, Prescott's 2016 NFL Draft classmate, is the guy Tua Tagovailoa just surpassed on the list in average annual value.

The Tagovailoa contract probably means Dak Prescott will wait to see what kind of number gets given to Jordan Love of the Green Bay Packers. Love is almost certain to exceed $50 million in average annual value after his big year in Green Bay last season, which will once again raise the floor for Prescott at the negotiating table.

Do all of these contracts complicate discussions between the Cowboys and Dak Prescott? They could, but ultimately, it would seem to simply delay the end of the discussions more than anything else. Prescott has a chance to reset the market and his agent (Todd France) would be doing him a disservice by taking the first offer he was given when these other players are changing the market.

Tagovailoa's contract is worth $212.4 million in total money, but $167 million in guarantees. There are only seven current quarterback contracts in the NFL with bigger overall guarantees.

Prescott is certainly going to exceed those guarantees after Jared Goff eclipsed $170 million in guaranteed money on his deal. If we go by percentages, Prescott should be in line to receive a four-year deal worth $224 million ($56 million per year) with the same percentage guaranteed as Jared Goff (80.45 percent) which would be $180.32 million.

That would give Prescott the sixth-highest guarantee out of any quarterback in the NFL along with the highest average annual salary among quarterbacks in NFL history.

Thanks to Tua Tagovailoa, those numbers may now be more realistic than ever for Prescott with the clock to start the 2024 season winding down.

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