Why Jerry Jones and the Cowboys had to sign Dak Prescott now

National Football League

Published Sep. 8, 2024 1:19 p.m. ET

The idea of becoming the biggest free agent in NFL history next March had to be tantalizing for Dak Prescott and his agents. He could’ve had his pick of at least a half-dozen franchises, maybe more, including some of the most storied ones in the league. And his price then would’ve blown away anything he would receive now.

But that truly would have been the nightmare scenario for the Dallas Cowboys. Jerry Jones didn’t have a Plan B at quarterback. He didn’t have a choice.

He had to get the Prescott deal done right now.

And in typically dramatic fashion, he did. Just hours before the season opener on Sunday, Jones signed Prescott to a record-setting, four-year, $240 million contract extension with a remarkable $231 million guaranteed. It’s a hefty price for a quarterback with just two playoff wins in eight seasons. Prescott is now the highest-paid player in the history of the league.

Not that the price was much of a surprise. This was a deal that could’ve been done a long time ago. The same thing was said about the four-year, $136 million extension receiver CeeDee Lamb signed in late August. Both players got exactly what everyone around the NFL always expected and predicted. It seems so unnecessary that either one had to wait so long.

Jones, of course, has a history of making deals at the last minute and an apparent love for showing a dramatic flair. But Prescott playing out the final year of his contract was the kind of drama he didn’t need — and probably couldn’t handle. There are already enough questions about the Cowboys this season, especially after Jones promised to go “all-in” and then basically sat free agency out. And there are likely to be weekly referendums on the future of his head coach, Mike McCarthy, who’s in the last year of his contract.

This team couldn’t have withstood questions about Prescott’s future too.

Tom Brady on Dak Prescott’s contract extension with the Cowboys

That’s because teams can withstand uncertainty at head coach. For the most part, they’re easily replaceable. But franchise quarterbacks are not. Ask any team that doesn’t have one. They can spend years searching for the right fit. And once they find one, most teams are smart enough to never let him go.

So imagine what it would’ve been like if the Cowboys had let this play out. There was already rampant speculation about where Prescott would play next season. Teams like the Pittsburgh Steelers, the New York Giants, the Las Vegas Raiders, and the Seattle Seahawks could’ve been bidders. And a case could be made for a half dozen more teams to potentially be involved.

It’s not crazy to think Prescott would’ve gotten $70 million per year in free agency, and maybe for longer than four years. That’s how quickly quarterback prices go up. Nine years ago Aaron Rodgers was the highest-paid quarterback in the NFL at $22 million per season. It’s only been four years since Patrick Mahomes became the first to break the $40 million-per-year barrier.

Really, if the 31-year-old Prescott became the first elite quarterback in his prime to hit the open market, who knows how crazy the bidding would’ve gotten? And if that happened, even the Cowboys had to know he probably would’ve been gone.

And where would that have left them? Their current backup is Trey Lance, the third overall pick of the 2021 NFL draft who so far looks like one of the biggest draft busts in NFL history. And if the Cowboys couldn’t re-sign Prescott, next year’s free agent market will likely be headlined by quarterbacks like Sam Darnold and maybe Daniel Jones.

That alone makes it easy to see why the Cowboys had no choice — why they probably should have approached this deal with a little more urgency than Jones showed. If they had let Prescott play out his deal, also would’ve been saddled with weekly questions and headlines about Prescott’s future. Try as they might to circle their wagons and maintain their focus, Prescott’s free agency would’ve been a distraction all season long.

Now they can play football, content to know that their future is at least somewhat secure with Prescott and Lamb headlining the offense for at least four more seasons. They still have to sign Micah Parsons, but at least he’s under contract through next season. And McCarthy’s future is uncertain, but that will end up being clear by how this season goes.

And with Prescott now distraction free, the season should go well — at least the regular season. There are legitimate concerns over Prescott in the playoffs, where he’s just 2-5 in eight seasons. But he’s also 73-41 as a starter. He threw for 4,516 yards and a league-best 36 touchdowns last season with just nine interceptions.

He’s a huge reason why the Cowboys have gone 12-5 and made the playoffs three years in a row.

When a team has a quarterback like that — a truly elite one who is one of the five best in the entire league — they simply don’t let them go. In fact, they rarely let them even get close to free agency. Jones, obviously, is a different type of businessman. Maybe he likes the drama and the tension. Maybe he thought waiting so long would tip some of the negotiations his way.

Of course, it was Prescott who had all the leverage, though — something he and his agents knew. The Cowboys were the ones who had to be desperate to get this deal done. Prescott was going to get paid by someone next season. Even if he had gotten hurt this season, someone was going to give him $60 million per year, if not more.

But the Cowboys had no clear vision of a post-Prescott future. Any scenario they considered had to look bleak. Locking Prescott up was a necessity for their future. It was the only way to keep their short-term championship window open.

It also allowed everyone in the organization to take a deep breath as they begin what could be a huge season. Maybe that’s what Jones wanted on the morning of the season opener. Maybe he just liked toying with the press and reading the headlines all summer long.

Whatever. In the end, Jones did the only thing he could — and to be honest, he’s lucky Prescott was willing to play along and sign an extension now. Because the Cowboys had no choice here, and deep down, Jones knew it.

At quarterback, in both the short and long term, Prescott was the only answer they had.

Ralph Vacchiano is an NFL Reporter for FOX Sports. He spent the previous six years covering the Giants and Jets for SNY TV in New York, and before that, 16 years covering the Giants and the NFL for the New York Daily News. Follow him Twitter at @RalphVacchiano.