The Dallas Cowboys face a pivotal offseason managing negotiations with key players like quarterback Dak Prescott, wide receiver CeeDee Lamb, and pass-rusher Micah Parsons.
Despite the financial challenges posed by impending extensions, the Cowboys remain optimistic about retaining their star trio.
Prescott’s stellar performance in the 2023 season, culminating in a runner-up finish for the NFL MVP award, has elevated discussions about a contract extension. Not only would extending Prescott’s contract secure their franchise quarterback, but it could also provide relief for the team’s 2024 salary cap constraints.
With Prescott carrying a hefty $59.5 million cap hit in 2024, an extension is expected to place him among the highest-paid quarterbacks in the league, likely in the range of $50 million to $55 million annually.
However, securing Prescott’s future in Dallas comes with its own set of challenges, particularly regarding the team’s ability to retain other key players.
Cowboys’ Retention Strategy
Lamb, currently playing on his fifth-year option, is poised for a significant payday after expressing his desire to be one of the top-paid wide receivers in the NFL. With a potential contract comparable to Tyreek Hill’s $30 million per year deal, the Cowboys face a daunting task in meeting Lamb’s salary expectations.
Meanwhile, Parsons, in the fourth year of his rookie contract, presents a unique opportunity for the Cowboys.
Despite his impressive performance and a modest $5.3 million cap hit in 2024, discussions about a contract extension are on the horizon. However, the team may opt to prioritize extensions for Prescott and Lamb, potentially deferring Parsons’ extension to a later date.
As the Cowboys navigate the complexities of contract negotiations, executive vice president Stephen Jones remains hopeful about the team’s ability to retain its star players.
Balancing financial considerations while ensuring long-term competitiveness will be paramount for Dallas as they strive to secure their core talent for the seasons ahead.
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