ITTT: If Dak Prescott Restructures Contract, The Jones Family Look Genius
The rumours are pouring into the media in true Dallas Cowboys fashion, highlighting a "plan" that Stephen Jones has to "restructure" their franchise quarterback, Dak Prescott. This would free up cap space, dropping Dak's contract to a much more manageable level over the next two seasons, and give the Dallas Cowboys more time to continue to build up the foundation they have in place.
In 2024, Trevon Diggs and Jayron Kearse will be free agents, and one year later Dak Prescott, Zack Martin, CeeDee Lamb, Osa Odighizuwa, and Kavontae Turpin contracts expire in 2025.
Add in that Micah Parsons rookie deal runs its course in 2026, and we have a bit of a two-year gap situation that has unfolded.
So What Do The Dallas Cowboys Do?
Well, let's pretend Jerry's “Baby Boy” Stephen Jones actually DOES have a great plan, and Dak Prescott IS on board to sign it.
And he might be.
2024 is the final year of guaranteed money, and we know Dak's history; he missed 11 games in 2020 and 5 games in 2022 due to injuries.
He is on the injury prone waiting list.
If I'm Dak's agent, I like the idea of restructuring; take a little less now for a lot more guaranteed later.
But if I’m BB Stephen Jones, I want another $20m+ guaranteed.
And this seems fair. If you can shrink Dak Prescott's $49m and $52m cap hit in 2023 and 2024 to $39m and $42m, respectively, things become easier to digest.
For the Dallas Cowboys, this would mean freeing up some of Dak’s contract that is eating up 20% of the total salary cap in both ‘23 and ‘24. And for Dak Prescott, it means he gets another $20m guaranteed at minimum.
Probably more if you tag on another 2 or so years to the contract, and the Cowboys seem pretty set on Rayne Dakota retiring in Dallas.
So Both Sides Are On Board; What’s Next?
OK, so a restructuring can make sense for both sides, BB Stephen is able to kick the can down the road not one but two seasons by spreading out a $20m signing bonus (or however that restructuring magic works) over the remaining 4 years of the NEWLY restructured contract, and this frees up $10m in cap space in both 2023 and 2024. Win, win.
What makes this move so genius? Well, mostly the clickbait title, but, also, too, as well, the fact that so many people have HATED Dak Prescott's contract. And now, if the above happens, it looks really damn good.
I will admit, that 20% of a Salary Cap is the HIGH threshold of what I would be willing to pay for any player, but I would certainly be willing to bend that rule enough to make sure I have a franchise QB at the helm of my offense for years to come.
So, if you think Dak Prescott is not that guy, pal, then all of this might be moot (I encourage you to keep reading).
Trust me…
But if you believe Dak Prescott has the tools available, mentally and physically, to lead the Dallas Cowboys to a Super Bowl, even if you think his contract isn't worth the play on the field to date, then we have one last thing to look at.
What’s The Fallout, Damnit?
Without a restructuring, Dak Prescott will be the third highest paid QB in 2023 behind Deshaun Watson ($55m) and Patrick Mahomes ($49m).
If Dak free's up $10m in cap space, he'll be making the same as Josh Allen at $39m (go figure!).
Top quarterback contracts for 2023.
And if that $10m in restructured savings is repeated in 2024, that would make Dak Prescott's the 5th highest paid QB, behind Deshaun Watson ($55m), Kyler Murray ($52m), Matt Stafford ($49m), Patrick Mahomes ($44m), and just above Josh Allen ($42m).
Top quarterback contracts for 2024.
Then, if we add that $20m to his 2025 contract, Dak Prescott would have a cap hit of $42m, 8th highest paid QB in the NFL.
Top quarterback contracts for 2025.
Of course, this is considering no one else in the NFL has a restructuring plan of their own and also doesn't account for quarterbacks who become free agents; Joe Burrow, Tua Tagovailoa, Justin Herbert, Jalen Hurts, and Will Grier are all currently scheduled to test the free market in 2024.
If This Then That Conclusion
For me to really be into this deal, it needs to be a two-year restructuring.
This allows the Dallas Cowboys to sign some homegrown talent like Diggs, Lamb, and Martin if he chooses to continue playing football past his current deal.
That would give the Dallas Cowboys a healthy 2-year window with the foundational pieces they have put in place to date.
And if all the above happens, that is what will make Jerry Jones and his Baby Boy Stephen a couple of geniuses.