Source: QB Prescott plans to sign franchise tag

Dallas Cowboys quarterback Dak Prescott plans to sign his $31.4 million exclusive franchise tender by Monday, a source told ESPN’s Adam Schefter.

The two sides still have until July 15 to work out a long-term deal. The Cowboys had placed the franchise tag on Prescott on March 18.

By signing his franchise tender, Prescott will be contractually obligated to report to training camp on time, whether or not he and the Cowboys can figure out a long-term deal.

This offseason, the Cowboys made a long-term offer to Prescott that would put him among the highest-paid quarterbacks in the NFL, ESPN’s Todd Archer previously reported. Seattle’s Russell Wilson is the highest paid at $35 million per season, followed by Pittsburgh’s Ben Roethlisberger at $34 million.

Cowboys owner and general manager Jerry Jones and executive vice president Stephen Jones have repeatedly expressed their belief that Prescott is the team’s quarterback of the future and capable of leading the franchise back to a Super Bowl. Prescott, who turns 27 on July 29, has said on multiple occasions that he never wanted to leave the Cowboys.

Dak Prescott plans to sign his $31.4 million exclusive franchise tender by Monday, a source told ESPN, officially linking the quarterback and the Cowboys for the 2020 season. Patrick Smith/Getty Images

The Cowboys had hoped to sign Prescott to an extension last offseason that would have guaranteed him nine figures, but the quarterback bet on himself, willing to play for $2.02 million in 2019.

Prescott completed 388 of 596 passes for 4,902 yards and 30 touchdown passes last season. Despite career highs in yardage and touchdowns, Prescott had his worst record as a starter (8-8) as the Cowboys missed the playoffs. His growth as a passer, however, was obvious as the Cowboys had two 1,000-yard receivers in