NFL Rumors: Cowboys' Stephen Jones reveals timeline for Dak Prescott's contract extension

Dak Prescott has been the face of the Dallas Cowboys since taking over at quarterback in the 2016 season. The team took the Mississippi State signal caller in the fourth round of the 2016 draft. It's been quite the journey for Prescott at America's Team.

Dallas is looking to extend the two-time Pro Bowler, according to Senior NFL Insider Dianna Russini of The Athletic, who appeared on the "The Ryen Russillo Podcast" recently. Russini gave the timeline for a new deal for Prescott per Stephen Jones, the Cowboys CEO and executive vice president:

"He said, 'Look, we're going to get through this season and Dak Prescott is going to be our quarterback. It'll be one of the priorities. Once the season wraps up, we will get that deal done.'

"So you know, just hearing him and having that belief and it was just very apparent. As many questions that Dak gets on a weekly basis, he certainly has a supportive ownership."

Prescott signed a four-year, $160 million deal with Dallas in March 2021 with $126 million guaranteed. The deal came after the team gave him the franchise tag in 2020.

This season, Dak Prescott is the eighth-highest-paid quarterback in the NFL at $31 million. He's thrown for six touchdowns and four interceptions with 1,333 yards in six starts in 2023.

He's led the Cowboys to four playoff appearances, making it to the NFC Divisional Round twice.

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What would Dak Prescott's extension look like?

Despite not being a free agent until 2025, it seems clear that Jones wants to bring Prescott back. It's important to note that his cap number will be $59 million, should an extension not be reached.

His new deal could look similar to his first extension but with more money. Per Spotrac, Prescott could get a four-year that sees him getting $44.4 million per season.

That projected deal would place him ninth amongst fellow signal-callers. The question becomes how much-guaranteed money is in play and if would be more than the $126 million given the first time.

Currently, Prescott ranks third in team history in passing yards and second in touchdowns to Tony Romo. He's tied with Hall of Famer Troy Aikman in game-winning drives with 20. The 30-year-old being mentioned alongside Aikman speaks volumes.

We'll see if a new deal happens between Prescott and the Cowboys as they continue to chase the Lombardi Trophy.