New on Sports Illustrated: Report: Cowboys' Dak Prescott to Sign $31.4 Million Exclusive Franchise Tender

Cowboys quarterback Dak Prescott is expected to sign his $31.4 million exclusive franchise tender by Monday.

Cowboys quarterback Dak Prescott is expected to sign his $31.4 million exclusive franchise tender by Monday, according to ESPN’s Adam Schefter.

The agreement means the two sides now have until July 15 to work out a long-term deal. Once Prescott officially signs his franchise tender, he will be contractually obligated to report to Cowboys training camp whether or not the two have a long-term agreement in place.

The Cowboys and Prescott have been discussing a possible extension for months on end, according to CowboyMaven’s Mike Fisher.

Throughout the offseason, though, the Cowboys have made it clear that Prescott is in their plans for the future. New head coach Mike McCarthy didn’t hesitate when asked in February if Prescott was the team’s franchise quarterback.

Definitely,” McCarthy said. “It’s exactly where we want to be with Dak. I think what he’s done to this point speaks for itself. Dak is in a business situation right now. I’ve gone through this as a head coach with a number of my players in the past and, like anything, I think it’s just time to be patient and let the business people work out the business matter.”

Prescott has also been adamant publicly about his desire to work out an agreement with the club, telling Yahoo Sports in mid-February, among other instances, that he had confidence in the parties involved in the negotiation that “something will get done.”

If Prescott does ink a long-term extension, he will almost certainly be the highest-paid player in Cowboys history.

Prescott, 26, threw for the second-most passing yards in the NFL last season (4,902) and the fourth-most touchdowns (30). He also added nearly 300 yards on the ground and three rushing scores.