Cowboys rumors: Why Dallas has plenty of incentive to sign Dak Prescott to multi-year deal

Dak Prescott officially signed his franchise tender with the Cowboys, but it would be in the team's best interest to negotiate a long-term contract.

Dak Prescott officially signed his franchise tender with the Dallas Cowboys on Monday, but it would be in the team's best interest to negotiate a long-term contract. ESPN's Ed Werder explained why Dallas has plenty of incentive to sign Prescott to a multi-year deal this offseason.

Dak Prescott signing his $31.4M franchise tag should not decrease team’s interest in securing multi-year deal. That would lower cap charge. Otherwise it goes up in 2021. League source: “They don’t want a $37M player next year on a shrinking cap so there’s plenty of incentive.”

— Ed Werder (@WerderEdESPN) June 22, 2020

Despite signing his exclusive franchise tag on Monday, Prescott can still negotiate a deal with the Cowboys. Both sides will have until July 15 to work out a long-term extension. If neither side can agree on a deal, then Prescott could be headed toward a similar fate in 2021.

However, it would be wise for the Cowboys to finalize a new contract with Prescott this offseason. In the event that Dallas and Prescott come to terms on a multi-year deal, then that would lower his cap charge in 2021. That would be a smart move for the Cowboys, especially if the NFL salary cap decreases next season due to COVID-19.

Throughout all of the reports this offseason, it seems as if Prescott wants a four-year deal, while the Cowboys want to give him five years. Joel Corry, a former NFL agent and contract expert, believes that Dallas will cave and give Prescott the four-year deal he desires.

In recent months, the Cowboys and Prescott haven't made much progress in getting an extension done. But with the clock ticking down, Dallas should be working vigorously to get a deal completed before July 15 rolls around.

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