Dallas Cowboys quarterback Dak Prescott is preparing to enter the final year of his deal and has reached a stalemate with the team in contract negotiations. The Cowboys say they want to keep Prescott long term, but they may not be willing to empty their bank account for him.

All along, the rumor was that Prescott was seeking $60 million annually. Well, now, Jacksonville Jaguars signal-caller Trevor Lawrence just landed a five-year, $275 million extension. That's good for $55 million per year.

As a result, $60 million seems possible for Prescott, per Ian Rapoport of NFL media.

The Cowboys still have not made any progress in contract talks with Prescott, but there is still plenty of time to get a deal done, Rapoport notes. He adds that $60 million is “no longer crazy” and “now pretty real” for Prescott, who he says has all of the leverage here.

And remember: Prescott is a “gambling man.”

Will the Cowboys make Dak Prescott the NFL's highest-paid player?

Dallas Cowboys quarterback Dak Prescott (4) goes through a drill during practice at the Ford Center at the Star Training Facility in Frisco, Texas.
Chris Jones-USA TODAY Sports

Lawrence tied Cincinnati Bengals star Joe Burrow for the highest average annual salary in football. Could Prescott surpass that?

Here is the thing: Prescott has been better than Lawrence overall. Lawrence had a terrific year in 2022, but in three NFL seasons, he really hasn't been all that great. He had a terrible rookie campaign and was actually very pedestrian this past season.

Meanwhile, Prescott just led the NFL with 36 touchdown passes and finished second in MVP voting.

But there is a catch: Prescott is about to turn 31 years old. Lawrence is 24, and Burrow was 26 when he signed his deal last offseason. How much will Prescott's age factor into negotiations? You have to figure it will count for something.

Plus, Burrow has already taken his team to a Super Bowl, so Jerry Jones and Co. may very well use that tactic against Prescott when exchanging figures. In fact, a legitimate argument can be made that Lawrence's deal may have actually hurt Prescott's chances of landing $60 million annually, as Lawrence did not reset the market.

But Rapoport is right in stating that Prescott does have leverage here.

Do the Cowboys really want to allow Prescott to test free agency next March? Let's say Dallas ends up losing Prescott. Then what? What will the Cowboys do at quarterback?

Say what you want about Prescott. Yes, he is 2-5 in the playoffs. Yes, he is fairly inconsistent. Yes, he played miserably throughout most of the team's dreadful Wild Card loss to the Green Bay Packers back in January. But he is also probably a top-10 quarterback in football, and quarterbacks don't grow on trees. You can't just dispense Prescott and find a better option at the drop of a hat.

The funny thing with Prescott is that he said he didn't play the game for money earlier this offseason. If that's the case, then he should be willing to take a pay cut in order to open up some money for Dallas to improve the rest of the roster. Maybe he will do that in the end, but right now, it appears that Prescott is aiming for the top financially.