Dallas Cowboys owner Jerry Jones rang the ceremonial bell at the New York Stock Exchange on Wednesday morning. The timing couldn’t have been better, because hours earlier, Jones (along with some help from Los Angeles Rams owner Stan Kroenke) rang the bell on the NFL’s financial world.
Actually, Kroenke went first. Late Tuesday night, he gave Rams quarterback Jared Goff a record-setting deal. Goff agreed to a four-year extension worth $134 million. More importantly, the deal includes $110 million guaranteed. That’s a new NFL record for most guaranteed money in a contract.
Then, very early Wednesday morning, Jones made history of his own. He agreed to a six-year, $90 million contract extension with running back Ezekiel Elliott, who was already under contract for $3.8 million this year and $9 million in 2020 (the fifth-year option of his rookie contract). That means Elliott will be under contract through 2026 for more than $100 million, making him the highest-paid running back in NFL history. The deal also includes $50 million in guaranteed money, which is the most for an NFL running back. Todd Gurley of the Rams held the previous high with $45 million in guaranteed money.
But Jones is far from done with wheeling and dealing. In fact, Elliott’s deal is just a start. At some point, Jones wants to give massive contract extensions to quarterback Dak Prescott and wide receiver Amari Cooper – if all that is possible. The Goff deal will have a huge impact on negotiations with Prescott. The Elliott deal will have major implications for Prescott, Cooper and the rest of the Cowboys.
Here’s a look at seven ways the deals for Goff and Elliott will impact the Cowboys, especially Prescott.
7. The goal is to keep the big three together
The Cowboys had “The Triplets’’ in quarterback Troy Aikman, running back Emmitt Smith and wide receiver Michael Irvin when they won three Super Bowls back in the 1990s. The Cowboys view Dak Prescott, Ezekiel Elliott and Amari Cooper as the second coming of “The Triplets.”
Prescott, Elliott and Cooper haven’t won any Super Bowls yet. But they all are young, and owner Jerry Jones wants to keep them together because he believes they can form the nucleus of multiple championship teams. But keeping all three isn’t going to be easy.
6. Too big even for Texas?
In a radio interview before the Ezekiel Elliott deal got done, Cowboys owner Jerry Jones said there were only so many “slices of pie” when it came to deals for Elliott, quarterback Dak Prescott and receiver Amari Cooper. In some ways, that could be true — even though Jones is very good at structuring deals to be as team-friendly as possible toward the salary cap.
But even with creative accounting, having three guys with huge contracts could play havoc with the cap. If Jones is able to sign all three to long-term extensions, it’s probably going to cost him right around $300 million in guaranteed money. Jones has never been afraid to spend money. But the challenge will be finding a way to fit all three under the salary cap without gutting the rest of the roster.
5. Could there be an odd man out?
Ezekiel Elliott already has agreed to terms. But the Cowboys also want to extend the contracts of Dak Prescott and Amari Cooper. There could come a point where it’s impossible to fit all three under the salary cap for the long term.
If that happens, it’s pretty clear who the odd man out will be. It’s not going to be Prescott, because you don’t let a franchise quarterback walk when you’ve got one. Cooper is a very good wide receiver with the potential to get better. At the moment, Brandin Cooks of the Rams will be the highest-paid receiver in the NFL this season at $27.5 million. But that bar could be pushed even higher if Atlanta agrees to an extension with Julio Jones. Does Cooper deserve to be paid as much as Jones? That’s a tough argument to make, but Cooper and his agent will certainly try. But, if the Cowboys decide they can fit only two of their big three under the cap, Cooper will be the one to go. It’s much easier to find a good receiver than it is to find a good quarterback.
4. What is Amari Cooper’s current contract situation?
Since Cooper was a first-round pick, there was an option for a fifth year. The Cowboys picked up that option after getting Cooper from the Raiders, and 2019 is the option year. He’s set to make $13.9 million this year. That’s not bad money for a wide receiver. But Cooper wants something long term, understandably. New Orleans’ Michael Thomas set the bar for wide receivers this offseason with a deal that averages $19.25 million. Is Cooper worth as much as Thomas? Probably not. But he’s not too far off.
3. What is Dak Prescott’s current contract situation?
He’s in the final year of his rookie contract. There is no fifth-year option, because Prescott was not a first-round draft pick. He’s only scheduled to make slightly more than $2 million this season. That makes him one of the biggest bargains in the league. That’s going to change next year — whether it’s in Dallas or somewhere else. And, by the way, the Cowboys might be better off extending Prescott sooner rather than later. If they don’t, he could have a monstrous season, and that would only drive up his market value.
2. Dak Prescott needs to send Jared Goff a thank-you note
Reports have indicated that Prescott and his agent are seeking a deal worth $40 million a year, and the Cowboys have offered around $30 million a year. Dallas’ offer was in line with what Matt Ryan and Carson Wentz make. That seemed like a pretty fair offer until Goff got a four-year extension on Tuesday night worth $134 million, including an NFL record $110 million in guaranteed money. That changes the game and only increases Prescott’s market value.
1. Does Dak Prescott really deserve to be the NFL’s highest-paid player?
In terms of past production, no. But we’re not talking about past production. In the real world of the NFL, they only talk about future production. It’s also an NFL fact that once you become the league’s highest-paid player overall or at a given position, that designation is only temporary. The next guy in line is only going to use that deal to get himself a better contract. Prescott is the next guy in line. He has enormous upside. Plus, he plays the most recognizable position in sports, with the possible exception of center field for the New York Yankees. The Cowboys really have no choice but to give Prescott the biggest contract in NFL history.
Pat Yasinskas has covered the NFL since 1993. He has worked for The Tampa Tribune, The Charlotte Observer and ESPN.com and writes for numerous national magazines and websites. He also has served as a voter for the Pro Football Hall of Fame.
