The Dallas Cowboys slapped a franchise tag on QB Dak Prescott, but they are still working to secure his services for the forseeable future with a long-term deal. The two sides are reportedly close on parts of the deal, but neither is budging on the length of the contract. Prescott wants to re-enter the market in four years, Dallas wants at least a five-year deal to be able to manage the cap hits and lock the player in for as many years as possible.
Prescott in turn wants a significant increase in average salary for once again putting on hold his payday, like he did for the 2019 season. Lucky for him, another domino fell in the QB market, almost assuredly pumping up the bill that Jerry Jones-or someone else-will front for his services.
The 2019 Comeback Player of the Year, Ryan Tannehill, signed a four-year contract extension with the Tennessee Titans, capping off an unlikely turn of events for the 31-year-old veteran QB. Acquired for mere scraps before last season, Tanehill eventually ascended to the starter’s role and guided the Titans to seven wins in their last ten games, and two playoff wins. Tennessee now looks to build off an AFC Championship game appearance with Tannehill entrenched as its starter.
The #Titans have agreed to terms with QB Ryan Tannehill on a 4-year deal worth $118M, source says. He gets $91M in total guarantees and $62M in fully guaranteed money. A huge payday after leading Tennessee to the playoffs.
— Ian Rapoport (@RapSheet) March 15, 2020
The Tannehill extension has direct implications on the current quarterback landscape, which should officially end any wishful thinking regarding Prescott signing anything less than a market-setting contract. Suddenly Tannehill, whose career seemed to be on the brink of a backup journeyman trajectory, finds himself earning within the top ten of QBs in terms of average annual value.
(This, by the way, is analyzing the new money on deals, not the total money.) https://t.co/JoTqViN6i8
— Albert Breer (@AlbertBreer) March 15, 2020
Tannehill’s earnings within the the highest paid players at his position reflects the current QB market on the eve of the new league year. There’s a clear divide between Tanehill and Prescott in terms of both age and production, providing nice leverage for Prescott’s team as they negotiate for the best possible deal.
Top 10 QB contracts by AAV, year signed (via OverTheCap):
Russell Wilson: $35M, 2019
Ben Roethlisberger: $34M, 2019
Aaron Rodgers: $33.5M, 2018
Jared Goff: $33.5M, 2019
Carson Wentz: $32M, 2019
Matt Ryan: $30M, 2018
Ryan Tannehill: $29.5M, 2020
Kirk Cousins: $28M, 2018
Jacoby Brissett: $27.975M, 2019
Jimmy Garoppolo: $27.5M, 2018
In fact, Cousins signed a two-year extension on Monday that actually lifts his average salary over the next three years to over $32 million.
Considering Prescott has reportedly already turned down Jared Goff money, he’s done well to position himself towards a deal that seemed out of reach not too long ago. Whether by APY, total value, or guaranteed money, Prescott’s upcoming deal will top lists and turn heads-at least until the next wave of young quarterbacks sign second contracts.
Top 10 QB contracts by total value, year signed:
Matt Ryan: $150M, $100M total guaranteed, 2018
Russell Wilson: $140M, $107M total guaranteed, 2019
Jimmy Garoppolo: $137.5M, $74.1M total guaranteed, 2018
Matt Stafford: $135M, $92M total guaranteed, 2017
Jared Goff: $134M, $110M total guaranteed, 2019
Aaron Rodgers: $134M, $98.2M total, 2018
Carson Wentz: $128M, $107.8M total guaranteed, 2019
Derek Carr: $125M, $70.2M total guaranteed, 2017
Ryan Tannehill: $118M, $91M total guaranteed, 2020
Cam Newton: $103.8M, $60M total guaranteed, 2015
This is the price the Cowboys pay for not prioritizing an extension with Prescott when they had the chance. Dallas’s hand is now forced, sent to enter the 2020 offseason with $72M in cap space, and now Prescott’s tag price of at least $31 million will start to hinder the clubs ability to round out a roster with several vacancies.