Cowboys quarterback Dak Prescott plans to sign his exclusive franchise tender on Monday, a source confirms to The Dallas Morning News' Calvin Watkins.
Once Prescott officially signs his franchise tag, he will be contractually obligated to report to training camp on time, whether or not he and the Cowboys have agreed upon an extension.
Training camp will take place at The Star in Frisco, Texas. It is tentatively scheduled to open the third full week of July, but at this stage, the NFL has not made a determination on when camps will officially open.
Prescott's franchise tag number increased from $26.8 million to $31.4 million after salaries for restricted free agents were finalized this offseason.
The two sides still have until the July 15 deadline to reach an extension before Prescott is locked into playing on the tag in 2020.
The news was first reported by ESPN's Adam Schefter.
TIMELINE OF PRESCOTT'S NEGOTIATIONS
Here's a synopsis of where negotiations stand at the moment, according to sources.
The Cowboys are offering a five-year deal. Todd France, who represents Prescott, wants four.
The club has not put an offer on the table that equals or surpasses the average of Russell Wilson. The average falls short of the Seattle quarterback's $35 million but ahead of the $34 million average of Pittsburgh's Ben Roethlisberger.
The Cowboys nudged their guarantee above the $107.9 million of Philadelphia's Carson Wentz earlier this year. When the two sides spoke again in April _ a conversation described by a source at the time as "very positive" _ it appears the club increased the guarantee above the $110 million Jared Goff received from the LA Rams.
The bottom line: the Cowboys' current offer gives Prescott the league's top guarantee and the second-highest average. But remember, that's over five years. Wilson, Goff and Wentz signed four-year extensions.
Now, let's chart the progression.
July 2019: The Cowboys presented Prescott with a proposal that averaged $30 million and a guarantee of $90 million entering training camp, putting him among the top five players at the position at that time.
September 2019: In an effort to strike a deal before the regular season began, the club upped that offer to an average of $33 million with a guarantee of close to $105 million.
February or March: The team offered a deal that bumped the average above $34 million with a guarantee of above that of Wentz.
April: The current deal averages roughly $34.5 million with a guarantee slightly above $110 million for five years.
June 21: Source confirms Prescott plans to sign franchise tag.
