Dak Prescott is presently a “$40 million APY” player … who is likely to soon be a “$50 million APY” player – which could make the Cowboys QB the NFL’s highest-paid player … ever.
FRISCO – The Dallas Cowboys have already coyly suggested that Cowboys Nation might “wake up one morning” and learn that a new contract extension has been agreed upon with QB Dak Prescott.
We’re not sure just how easy that’ll be.
We do have an idea, however, how monumental that’ll be – like, $351 million worth of “monumental.”
In addition to the Jones family’s faith in Dak as a player and leader, the Cowboys have essentially made their bed in terms of Prescott being this team’s centerpiece for the long term. The already-large commitment will, for cap reasons, almost surely begat another large commitment in order to not only retain the player but also to spread out his money cap-wise so other business can be done.
Prescott is presently a “$40 million APY” player … who is likely to soon be a “$50 million APY” player – which could make him the NFL’s highest-paid player. … ever.
As noted by Cowboys Wire, the same thing will eventually happen with the likes of the Bengals’ Joe Burrow, the Chargers’ Justin Herbert and the Eagles’ Jalen Hurts. (And maybe the Ravens’ Lamar Jackson, though his circumstances are presently quite messy.) The $50 million annual salary (which is right about where only Aaron Rodgers is presently perched) will become an accepted thing – and of course so will the debate over whether Dak (or most any other QB) is “worth it.”
The debate is understandable; is Prescott really a “top QB”? What’s he done to justify a $50 million salary? Maybe he should accept a discount that is more team-friendly? What’s he done to set in stone the notion that as Cowboys Wire writes, “Prescott’s next deal has to have at least $165 million in total guarantees and at least $124 million in full guarantees at the start of the deal”?
There is, of course, no “has to.” But there are realities that include Prescott as a “Cowboy for Life.” And so, to the Cowboys Wire projection breakdown that features likely “guarantees (that) would be $185 million … year-by-year cash to Prescott through 2029 of $289 million” … and (counting existing money plus the extension) a total cap hit of $351 million.
So here’s Dak Prescott on a possible contract extension he’s expecting. pic.twitter.com/A0lU3UL8tw
— Calvin Watkins (@calvinwatkins) March 7, 2023
That’s seven years, spanning 2023 to 2029. That’s $351 million in cap (and $289 million in salary). That’s a “$50 million APY” player.
This is in part about “supply and demand” and the high cost of doing QB business; that’s the only way to explain the seemingly warped idea of Prescott and some of the others making more than, say, Rodgers. But these prices are not going down. Not ever.
Kansas City’s Patrick Mahomes (who on merit should clearly be No. 1 on the rich list) has a deal that pays him $503 million over a 12-year period. That’s the biggest deal in NFL history. But per year? It’s not the $50 million APY that Dak might get – so in annual salary, based on this projection, Prescott (along with any of the aforementioned young stars) is primed to jump to the top of the heap.
It’s coming. And yes, that will quite something for Cowboys Nation to “wake up to.”