Former Bulldog Dak Prescott reportedly signs franchise tender with Cowboys

Prescott still has time to negotiate a long-term deal

Former Mississippi State quarterback Dak Prescott still doesn't have the long-term deal with the Dallas Cowboys that he desires, but he does at least now have a signed contract for the 2020 season in the event a longer agreement doesn't come together.

Multiple outlets reported on Monday that Prescott inked his franchise tender with the Cowboys. That means he is set to make $31.409 million in 2020, which would make Prescott the highest-paid Dallas Cowboy ever in terms of amount per year. 

The caveat to all this is that there is still time for Prescott and the Cowboys to come to an agreement on a longer pact. There is a July 15 deadline for the two sides to come together on an extension, or else Prescott will play in 2020 under the one-year franchise tag deal he signed Monday.

For weeks now, Mike Fisher of Sports Illustrated's Cowboy Maven has reported Dallas has offered Prescott a five-year deal with an average annual value of $35 million per year and over $106 million guaranteed. The catch has been that Prescott is reportedly desiring only a four-year deal, which would allow him to hit free agency again at the age of 30 and be able to cash in yet again on a lucrative deal at that point.

Regardless of what eventually happens with the extension talks, Prescott signing the franchise tender Monday is good news for Dallas. At the very least, it seems to signal that Prescott won't hold out of training camp with the Cowboys.