Cowboys reportedly aiming to extend Dak Prescott before free agency

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The Dallas Cowboys are preparing an extension for superstar Dak Prescott. It's a pact they need to resolve imminently.

Prescott carries a $59.455 million cap hit in 2024, which leaves the Cowboys looking to rework his contract before the start of free agency in mid-March to give them more cap maneuverability, per NFL Media. The club reportedly intends to again make Prescott one of the highest-paid quarterbacks in the league. The three-time Pro Bowler is entering the final year of his deal, which includes a no-tag clause, effectually forcing the Cowboys to work out an extension this offseason to avoid Prescott becoming a free agent.

The 30-year-old signal-caller is coming off arguably the best campaign of his career, having finished second to Lamar Jackson in MVP voting. Prescott passed for a league-high 36 touchdowns, 4,516 yards with just nine interceptions. He ranked second in passer rating (105.9) and completion percentage (69.5) among full-time starters. 

He also led Dallas to the NFC East title and a third playoff appearance in as many seasons. The Cowboys lost in the wild-card round, however, for the second time in three years. Prescott threw for 403 yards and three touchdowns but also two interceptions, including a pick-six, as Dallas was blown out by the Green Bay Packers.

A lucrative extension would be the second of Prescott's career. The former fourth-round pick was one of the best bargains in football upon emerging as one of the NFL's better QBs while on his rookie deal. He played the 2020 season on the exclusive franchise tag before signing a four-year, $160 million deal. The Cowboys have gone 12-5 in each season since, but won just one playoff game during this stretch and only two in the course of Prescott's eight-year career. 

Dallas has not reached the NFC title game since the 1995 season, marking the second-longest drought in the conference.