With the approval of a new labor agreement by NFL players, the road is now clear for the Dallas Cowboys to sign quarterback Dak Prescott and/or receiver Amari Cooper to long-term contract extensions.
But the countdown clock before Monday's deadline for the franchise tag has now moved to warp speed.
The new collective bargaining agreement, which runs through 2030, between the NFL and NFL Players Association features a 17-game regular season, higher salaries, increased roster sizes and larger pensions for current and former players. It also gives the Cowboys the ability to structure contracts with huge signing bonuses and back-loaded base salaries.
But it also takes away the option for team's to use the franchise tag and the transition tag. The change makes it imperative for the Cowboys to get a deal done with either Prescott or Cooper before Monday at 10:59 a.m.
Absent a deal, the Cowboys will place the exclusive franchise tag on Prescott, which could potentially expose Cooper to the free-agent market.
As of now, the current franchise tag number for Prescott would guarantee him $31.9 million in 2020.
Prescott turned down a contract averaging $33 million annually with $105 million guaranteed in September. The Cowboys have recently upped that offer that could potentially surpass Seattle Seahawks quarterback Russell Wilson ($35 million annually) as the league's highest-paid player.
The good news for Prescott is the market for quarterbacks increased almost immediately with the new deal as the Tennessee Titans signed Ryan Tannehill to a four-year deal for $118 million. It averages $29.5 million annually and includes $91.5 million in guaranteed money. The $91 million represents the highest guarantee on a straight four-year deal in league history.
Tannehill got his mega deal after a half-season of good football with the Titans. His body of work pales in comparison to Prescott's four years with the Cowboys. And Prescott is coming off his best season, one in which he threw for 4,902 yards and 30 touchdowns.
The Cowboys had wanted to sign Prescott to a longer deal, but the quarterback has been angling for just four years, which is consistent with the recent contracts signed by Wilson and Tannehill.
Beyond settling the biggest personnel decision the team is facing, getting a new done for Prescott also means he would be available for participate in its offseason program with new coach Mike McCarthy. (Typically, players who are tagged sit out most voluntary offseason team activities as a form of protest.)
Cooper, meanwhile, is looking at a possible deal of at least $18 million annually, but the figure could approach or exceed $20 million if the receiver hits the open market.
If they sign Prescott, they would use the tag on Cooper, absent a deal with him.
The Cowboys have until Monday morning to get it something done.
The road is clearer but the clock is ticking.
There has been a lot of talk about the NFL postponing the start of the league year, set for March 18 with the start of free agency and trades, in deference to the coronavirus pandemic once the CBA was approved.
As of now, things are status quo. But that could change, which could result in the delaying of the franchise tag deadline.
Regarding the new CBA, a 17-game schedule won't happen before the 2021 season. The preseason will be reduced from four games to three.
Rosters will expand from 53 to 55 and there will be larger practice squads.
The league will no longer suspend players for failed marijuana tests.
Base salaries will increase by $90,000.
