'I Don't Fear Losing Dak!' Cowboys Owner Jerry Jones Reveals Confidence in Prescott Contract

'I Don't Fear Losing Dak!' Dallas Cowboys Owner Jerry Jones Reveals Confidence in Prescott Contract vs. Future Free Agency

FRISCO - For almost two weeks, we've known that the Dallas Cowboys and Dak Prescott were "ready'' to open negotiations on an extension as the MVP quarterback is about to enter the final season of his current contract in 2024.

But progress has been slow, if it's existed at all. Concerns have been raised.

Along the way, there have been breathless with "news'' such as, "they haven't had any substantial talks" about a long-term contract. ... and next think you know, Bleacher Report's reaction is, "the Dallas Cowboys don't seem to be showing much urgency to get a new deal done with their star quarterback.''

And now? On Friday night in Indianapolis at the Scouting Combine, Jerry Jones held court with the DFW and was asked about whether he harbored any "fear'' of losing his MVP quarterback. 

“I don’t fear,'' the owner said. "No. I don’t fear that. No, I do not.''

And why not?

"Well,'' he said, "because I’ve got my mind on being better than we were last year and that’s where the focus should be.”

The "fear'' is of course about the possibility that no extension agreement can be reached, leaving Prescott to depart Dallas after 2024.

There is a "deadline'' of sorts of March 13 to be cap-compliant, with a move on Dak's present $59.4 million cap hit the motivation for eventual change.

'All In'? Cowboys NOT Meeting With Dak, Micah, CeeDee on New Contracts?

As CowboysSI.com has detailed in depth, Dallas entered this process with a trio of options here, including what we're terming "The Voidable-Years Band-aid'':

OPTION 1) Stick with the original plan of believing in Dak and give him an extension, maybe worth $60 million APY, that would make him the highest-paid player in NFL history. ... but one that would also provide Dallas with $20 million of cap room.

OPTION 2) Let it ride. Leaving that $59.4 million as is would be crippling in terms of roster-building, because it wouldn't provide that aforementioned cap room. But if there is a distrust of what Prescott is as a QB? Let him be a prove-it lame duck, just like coach Mike McCarthy.

And then either pay him later ... once he's winning playoff games ... or don't.

OPTION 3) Flip the Switch, Apply the 'Band-aid.' As we've written before, most Cowboys contracts include "automatic conversions,'' what we call "flipping a switch'' that "converts base salary to bonus'' ... and pushes money into future years.

Jerry Jones on getting a contract extension done with Dak Prescott pic.twitter.com/YCkAG4NeKK

— Jon Machota (@jonmachota) March 2, 2024

In Dak's case, there are already two voidable years on the contract after 2024. So the Cowboys could "flip a switch'' and knock his $29 million salary for 2024 down to the league minimum of $1.21 million.

We know this last option is a legit consideration. And even after using it, Dallas can continue to negotiate with agent Todd France. But Dak's side could also say, "No thanks,'' in which case he's a free agent after next season ...

A circumstance that Jerry Jones insists he does not "fear.''