Following the Cowboys' disastrous 6–10 season, owner Jerry Jones admitted that quarterback Dak Prescott has the upper hand in contract negotiations.
"I don't know how you could have any more leverage," Jones said on 105.3 The Fan, via ESPN. "His evolving into an NFL quarterback has been nothing short of a perfect picture. He has great ability, in my mind, to win games. He's talented. ...You wouldn't offer Dak what we offered in the past if you'd not thought he was very special.
"The issue is how do you come together? And that's no stranger to me. I've been doing it all my life, putting things together. We've got to get it together."
With the 2020 season over, Dallas and Prescott's agent can resume negotiations on a long-term deal. Prescott played this season on a $31.4 million franchise tag after rejecting a long-term extension offer last summer. Despite his season being cut short when he suffered a gruesome ankle injury in October, the Cowboys can sign him to another franchise tag for 2021 if he doesn't reach a new deal with them.
The 27-year-old has also been adamant publicly about his desire to work out an agreement with the club. If Prescott does ink a long-term extension, he will almost certainly be the highest-paid player in Cowboys history.
In early December, Cowboys executive vice president Stephen Jones addressed the team's contract negotiations with Prescott, saying the two sides are still discussing the length of a deal.
According to ESPN, the team wanted to sign the signal-caller to a five-year contract, while his agent suggested four years since future television contracts are expected to raise the league's salary cap.
"We have a certain amount, period, that can be paid to players every year. It's a very competitive thing and the longer the term, the more flexibility you've got in any numbers that you have in a contract," Jerry Jones told 105.3 The Fan. "The planning ahead, the looking at what you can spend, what you can give on any other free agents, that's your overall planning."
Prior to his injury, Prescott threw for 1,856 yards with nine touchdowns and four interceptions in 2020. Dallas went 2–3 in his five starts.