The Dallas Cowboys have announced they will look at renegotiating Dak Prescott‘s $240m contract to try to free up more funds to keep other key players, such as Micah Parsons, with the team.
Prescott, the quarterback of the team, currently makes $60m-per-year from the deal he agreed in September 2024. That deal is also topped up with some remaining salary from his previous $40m contract with the NFC East side.
And that’s quite a big hit to the Cowboys‘ cash war chest which is why Jerry Jones‘ son has revealed plans to rework the terms of the agreement so that the financial burden at the AT&T Stadium is lessened.
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“We reworked (Dak Prescott’s contract) every step of the way of his $40 million contract and we’ll be reworking it again throughout on his $60 million contract,” Stephen Jones told 105.3 The Fan. “In terms of pushing the pay day out.
“A little bit of that’s our problem right now, is we’re not only paying for his current $60 million, we’re still paying for part of the $40 million contract that we pushed out.”
How could reworking help the Cowboys?
Reworking the deal doesn’t mean the 31-year-old Prescott will lose any money but it simply moves it around to avoid NFL regulations and is a common thing for teams to do with big-money contracts. For example, the Kansas City Chiefs have done so with Patrick Mahomes.
The Cowboys previously changed Prescott’s roster bonus to a signing bonus in March 2024 and added 2027 and 2028 as voidable years to keep the cap for 2025 at $40m, showing how much leeway these carefully worded agreements have to protect the franchises.
It could keep Micah Parsons with the team as they look to offer a new deal to the key linebacker, who is a four-time Pro Bowler, and he revealed he is actually keen to stay in Dallas for the years to come despite his contract expiring in 2025.
“I’m going to try and work with them as much as possible,” Parsons told reporters. “To help them attack free agency.
“I want to be back with this team. This offseason, I want to be here. I want to get these guys right.”