The vibes surrounding the Dallas Cowboys have improved since the start of the NFL Draft. Not only did the Cowboys select multiple current and future starters, but they signed Ezekiel Elliott, who becomes the elder statesman in the RB room. Dak Prescott is thrilled to have his best friend back in the locker room, which he touched on Wednesday at the team’s annual Reliant Home Run Derby.
Prescott also provided an update on his contract situation. While Prescott said there isn’t necessarily anything new to share about negotiations, he revealed that “communication has been back and forth.” He brushed off the fact that talks have dragged out and doubled down that Dallas is where he wants to be.
It seems inevitable that Prescott will sign an extension. We also know that Prescott will become the league’s highest-paid QB. What that final price is, though, remains a mystery.
As the Cowboys continue to drag their feet with Prescott, they could watch his price tag skyrocket thanks to an NFC rival. A simple reading of the tea leaves suggests that the Packers and Jordan Love could reach an agreement on a contract extension in the very near future.
Packers GM Brian Gutekunst revealed in March that the team and Love have had “preliminary” discussions about a new deal. Rather than exercise Love’s fifth-year option last offseason, Green Bay signed the former first-round pick to a one-year extension. That deal was announced on May 2, so Love is officially extension-eligible. A deal could come to fruition very soon.
Before the draft, ESPN insider Jeremy Fowler reported that “the Packers are committed to getting something done with Love” and that his new deal should put him “somewhere probably in the top-10 highest-paid passers.”
While Love won’t become the highest-paid quarterback, him entering the top-10 would drive up Prescott’s price. Yes, Love beat Prescott and Dallas in the playoffs in January, but if he can command top-10 money after his first full season as a starter, Prescott is likely (and rightly) to command a king’s ransom.
After all, Prescott is entering year nine as the Cowboys’ starter. It goes without saying he has a superior body of work relative to Love. Playoff loss notwithstanding, Prescott finished second in MVP voting last year and was a Second-Team All-Pro after throwing for 4,516 yards and a league-high 36 touchdowns. Love didn’t even qualify for the Pro Bowl as he didn’t hit his stride until the second half of the schedule.
A top-10 contract would pay Love at least $40 million per year. According to the 2024 salary cap, $62.4 million per year would give Prescott “top of the market” money. If Love secures an AAV of $40 million or more, Prescott would be well within his rights to up his asking price to $63-65 million annually.
Anything can happen, but given how slow-moving Prescott’s contract negotiations have been, it seems inevitable that Love will sign before him — thereby raising his price tag that was already expected to make him the highest-paid gunslinger in NFL history.
