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An exclusive franchise tag means a particular player must be offered a one-year contract worth no less than the average of the top five salaries at the player’s position or 120 percent of the player’s previous year’s salary, whichever is greater.
The exclusive franchise tag prevents another team from negotiating with Prescott.
The exclusive franchise tag for Prescott is worth around $33 million. A non-exclusive tag carried a $28 million price tag. Other teams could have signed Prescott to an offer sheet if they gave him the non-exclusive tag. The deadline for both parties to sign a long-term deal is July 15.
Prescott and Dallas are reportedly at odds over a long-term deal. Prescott is reportedly seeking to be the highest-paid quarterback in the NFL. Russell Wilson, Ben Roethlisberger, Aaron Rodgers, Jared Goff, and Carson Wentz are among the top five highest-paid quarterbacks in terms of average annual salary.
Prescott emerged as one of the top quarterbacks in the league last year. He had his best season in 2019, throwing for 4,902 yards and 30 touchdowns. But the Cowboys failed to make the playoffs.
The Cowboys quarterback said during Super Bowl Week in Miami Beach, Fla., that playing for Dallas has been a “blessing” and wasn’t worried about things out of his control.
“I control what I control. That’s everything I worry about,” he said. “When the time comes up, the time will come. It’s not anything I think about. Obviously, I’m blessed and very fortunate. I don’t play the game for that, but like I said, if it comes it will be a blessing.”