Jerry Jones on Dak Prescott extension: 'We're operating under the existing contract'

Dak Prescott is entering the final year of his contract with the Dallas Cowboys and does not yet have an extension to sign. Both parties have stated talks have continued but with the season opener getting closer, those will begin to fizzle. Prescott’s top goal is finding a way to win and does not want contract issues during the season.

Jerry Jones was asked for an update regarding on potentially getting something done, saying talks are still ongoing at the moment. But for now, the Cowboys are going to let Prescott play under his current deal.

“We’re just continuing to talk,” Jones said via Nick Harris of DallasCowboys.com. “…Since we’re [approaching] in-season, we’re operating under the existing contract.”

There is a big risk of letting Prescott walk into the season without a fresh contract. Free agency is potentially looming for the 31-year-old quarterback. If he were to hit the open market, you have to assume multiple teams would be interested in bringing him on, even with a hefty price tag attached.

Earlier in the summer, Ian Rapoport of the NFL Network speculated it would be hard to imagine Prescott returning to Dallas if he were to become a free agent.

“The contract is a big deal,” Rapoport said. “As it stands right now, Dak Prescott heading into the final year of his contract with the kind of leverage that we have rarely seen a quarterback have. the Cowboys cannot trade him, they cannot franchise him. If they don’t do a deal with him, he’s going to be a free agent.

“Will he sign with the Cowboys after they let him be a free agent? I guess anything’s possible but certainly hard to imagine there.”

Prescott has not shied away from the topic either. One of the top quotes from Cowboys training camp was Prescott saying playing for another team might be a “reality” for him at some point.

“I want to be here but when you look up — all the great quarterbacks I watched played for other teams,” Prescott said. “So, my point in saying that is that that’s not something to fear. That may be a reality for me one day. It may not be my decision. So, that’s the freedom I have.”

If Dallas and Prescott cannot reach a deal soon, March 12, 2025, at 4 p.m. ET will become quite an important date. The Cowboys will have from the end of their season until then to extend Prescott — otherwise, he might be wearing a new uniform next year.