Dak Prescott Contract: How CeeDee Lamb and Micah Parsons’ Future Depends on Cowboys’ $60 Million Decision

Published 02/21/2024, 5:25 AM EST

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The Dallas Cowboys’ offseason is currently at a crucial point. Targeting the next Super Bowl meant keeping head coach Mike McCarthy on board, his fifth with the club and the last on his current contract. But the team’s success also highly depends on securing the contract extension of star QB Dak Prescott.

The decision to keep Prescott is primarily influenced by possible financial constraints rather than solely relying on his recent playoff performances. Although LB Micah Parsons said he’s ready to commit “for life,” he also understands that the club may have a higher priority in negotiating with wide receiver CeeDee Lamb.

The Cowboys are currently in a financial pickle!


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Dak Prescott’s contract with the Cowboys, a four-year, $160 million deal signed in March 2021, ends after the 2024 season. Despite a significant ankle injury in 2020, this contract, averaging $40 million annually, made Prescott the NFL’s second highest-paid player (after Deshaun Watson’s $63.977 million) at that time.

In 2024, Prescott is set to earn $34 million. Meeting Prescott’s contract demands is vital for the Cowboys’ financial stability. Per his restructured contract, losing him means a $59.4 million cap hit and potential loss of key players like Ceedee Lamb and Micah Parsons.


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According to Spotrac, the team’s current $-16,128,985 cap space complicates the matter. And the only way for the Cowboys to reduce the $16 million negative impact is to either by handing a big contract and re-negotiating how it hits them or trading players away. Securing Prescott’s extension is vital for retaining essential players and managing long-term agreements.

USA Today via Reuters

Additionally, according to Bleacher Report’s Jordan Schultz, Prescott “is going to command somewhere along the lines of $60 million per year,” and the team won’t be looking to release Parsons or Lamb at any cost.

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Therefore, the Cowboys face a tough decision, potentially parting with supporting cast players to accommodate their stars’ lucrative contracts. And since Prescott can’t be franchise-tagged next year, renegotiating this year is necessary for cap space to save players like Parsons or Lamb, who will be highly sought after for their talent if traded. Although Prescott hasn’t disclosed his wish, Lamb and Parsons have already clarified their expectations with the team.

CeeDee Lamb and Micah Parsons, and their contract expectations!


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Entering the final year of his rookie contract, CeeDee Lamb’s contract extension talks are intensifying gradually in the offseason. Talking about his expectations with himself and the team, Lamb, on Micah Parsons’ The Edge podcast, said, “I can’t give you no numbers right now. But I’ll tell you this, one of the top-paid receivers for sure, if not the [highest-paid receiver]. That’s always the goal.

USA Today via Reuters

He emphasized his commitment to the Cowboys, aspiring to be a “Cowboy for life.” On the other hand, Parsons, too, shared a similar mindset, expressing, “I’m ready to be a Cowboy for life, this is the team I wanna be with, this is the team I want to win a championship with.”


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Their desire to stay is rooted in strong relationships, especially with QB Dak Prescott, for stating no issues and believing in him by expressing confidence in Prescott’s leadership to guide them to a Super Bowl. So, will Prescott make a way out to return the same love to his star players, Parsons and Lamb?

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Written by:

Bhwya Sriya


One take at a time

Bhwya Sriya is a senior NFL writer at EssentiallySports. She actively covers Live games and Breaking News with a specialization in injury reports. Certified for excellence in beat reporting, Bhwya also leads our annual Super Bowl coverage.
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Edited by:

Shubhankar Adhikari