It has been an offseason that has seen Dak Prescott’s contract situation remains the top topic of conversation around the Dallas Cowboys. There has yet to be any significant traction toward a new contract to keep Prescott for the long haul. That uncertainty has only lingered as the extension deadline for players on the franchise tag is about a week away. That said, Jerry Jones has already made one massive mistake that he will regret with the entire matter.

Dak Prescott’s contract situation

Throughout much of the offseason, the Cowboys’ focus has centered on Dak Prescott’s contract situation.

Since placing the franchise tag on him back before the start of free agency, but there hasn’t been any significant movement toward an extension. The two sides have had ongoing discussions, but that hasn’t resulted in a new deal hammered out. Instead, the two sides have reached a bit of a standstill over the contract’s length, with Prescott wanting it in four years rather than the five that the Cowboys are eyeing.

There is keen mutual interest from both sides to get another deal worked out. Things remain at a point where there isn’t any certainty that it will be in place before this month’s deadline. The pressure is on Dallas to get the extension in place, but Jerry Jones may have already made a huge mistake that could backfire on him.

Jerry Jones will regret one massive mistake he made with Dak Prescott

The Cowboys have known for quite some time that they will have to pay Dak Prescott a bit more than they would like on his next extension.

That has led to Jerry Jones standing on firm ground with their offers and the years they want it to be. However, things have taken yet another interesting turn outside of situation with Patrick Mahomes inking his record-breaking deal with the Kansas City Chiefs on a 10-year extension worth up to $503 million.

There is no other way to look at but that it raises the price tag on Dak Prescott’s next deal as he wants to be paid like the league’s highest-paid quarterback. Dallas won’t give him an overall deal anywhere that much, but his annual salary asking price just went up again as Mahomes’ extension pushes him to an average of $45 million a year.

It had been hinted at the time that Prescott was potentially eyeing $40 million a year, which that number could balloon further now. The 26-year-old’s deal will be a franchise-record deal, but it will also be a figure that the team may be comfortable in committing to their Pro Bowl quarterback for the next several seasons.

Will Jerry Jones get Dak Prescott a new deal before the deadline?

The Cowboys have a week before the franchise tag deadline to secure Dak Prescott to a long-term extension, which there has yet to be any serious movement in that direction.

There is a strong belief that things will come rapidly together, possibly at the last second on or before July 15. The ball is in Dallas’ court as they know what exactly Prescott is looking to obtain regarding the number of years on the deal, and will have to come closer to his annual figure to get it hammered out. He’s scheduled to make $31.4 million this year, which that number would raise to $37.68 million in 2021 if franchise tagged again.

Jerry Jones would like to avoid this contract situation hovering over yet another season that led to things falling flat earlier this offseason. It’s a situation that Prescott holds the cards, but one that the Cowboys could get resolved by making that significant financial commitment to him. One thing is for certain; the longer Dallas waits, the more they will have to pay to keep their quarterback.