First reported by ESPN, Dallas Cowboys quarterback Dak Prescott plans to sign his exclusive franchise tender on Monday, guaranteeing himself a salary of $31.4 million for the upcoming season.
Prescott’s intent to sign was confirmed to Calvin Watkins of the Dallas Morning News.
The two sides still have until the July 15 deadline to reach a long-term extension before Prescott is locked into playing on the tag for the 2020 season.
Prescott has reportedly already turned down a five-year deal that would have been worth $175 million with more than $100 million guaranteed. It is believed Prescott is seeking a four-year contract that will make him the highest- or second-highest paid quarterback in the league.
By agreeing to play under the tag, Prescott guarantees himself even more money for next season in the event that the Cowboys tag him again and also gets himself one step closer to hitting unrestricted free agency and the possibility of earning a massive payday with another team.
Of course, with the NFL’s 2020 salary cap of $198 million set to plummet thanks to COVID-19, it may be in Prescott’s best interest to work out a long-term deal with Dallas now. Whether he is good enough to merit one is another matter entirely.
Once the 26-year-old signs on the dotted line, he will be contractually obligated to report to training camp on time, which is tentatively scheduled to open the third week of July.
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