Dak Prescott will make $31.4 million under the one-year franchise tender with the Dallas Cowboys in 2020 barring a last-minute breakthrough Wednesday before the 4 p.m. ET deadline.
Multiple outlets reported Prescott and the Cowboys weren't close to a long-term deal, and the expectation from both sides was for the quarterback to play this season under the terms of the franchise tag.
The Cowboys announced June 22 that Prescott signed his tender for the 2020 season.
The same is reportedly true for Los Angeles Chargers tight end Hunter Henry, who caught 55 passes for 652 yards and five touchdowns in 12 games last season. Henry and the Chargers haven't talked contract in recent days, per reports.
Henry signed his $10.6 million tender and plans to report to training camp, he said earlier this month.
"I'm just going to go out there. I get a chance to play this year and do my thing this year," Henry told the Orange County Register. "I'm pretty locked in on what I got ahead of me in the 2020 season. That's what I'm locked in for, you know, I don't like to look too far ahead."
Prescott's contract talks with the Cowboys have simmered on and off, but owner Jerry Jones said during the 2020 NFL Scouting Combine the team would only do a deal that made sense financially.
The market for quarterbacks shifted in a massive way last week. Kansas City Chiefs quarterback Patrick Mahomes signed a 10-year extension worth up to $503 million.
Previously, Seattle Seahawks quarterback Russell Wilson was the top-paid passer in the NFL with an annual average value of $35 million. He signed a four-year, $140 million deal in April 2019.
Prescott, who turns 27 on July 29, reportedly turned down a five-year, $175 million contract this offseason.
Tagging Prescott a second time next spring would cost the Cowboys nearly $40 million, based on current projections.
A two-time Pro Bowl selection, Prescott set career highs in 2019 with 4,902 passing yards and 30 touchdown passes. He added three rushing scores for the Cowboys, who finished with an 8-8 record and missed the playoffs.
Prescott has thrown for 15,778 yards and 97 touchdowns while adding 21 rushing scores in 64 career games since being selected by Dallas in the fourth round of the 2016 NFL Draft.
Other franchise-tagged players unexpected to reach long-term extensions by Wednesday's deadline include Cincinnati Bengals wideout A.J. Green and New England Patriots left guard Joe Thuney, per reports.
--Field Level Media