In a surprising twist, the Dallas Cowboys and star quarterback Dak Prescott have reportedly reached a mutual understanding to play out the final year of his contract, according to NFL Network Insider Ian Rapoport. Sources close to the situation have revealed that both the club and Prescott have agreed not to make any adjustments to the contract entering the 2024 season.

Many had anticipated that the Cowboys would extend Prescott's contract this offseason in order to alleviate the burden of his massive salary cap figure. However, the team and the quarterback have instead decided to let things unfold naturally and address the situation after the current season.

Earlier this month, the Cowboys took a step towards reducing Prescott's salary cap hit by converting a $5 million roster bonus into a signing bonus, which resulted in a $4 million reduction. Nevertheless, Prescott's cap figure still remains significant at a staggering $55.445 million. To provide further flexibility, the club has also added two additional void years, extending the contract through 2028.

Prescott, who signed a four-year, $160 million contract in 2021 with no-trade and no-tag clauses, is now headed towards free agency in 2025 if an extension agreement is not reached. Should the Cowboys fail to secure a deal, Prescott would count for a substantial $40.46 million against the 2025 salary cap.

In the previous negotiation, Prescott held the upper hand after the Cowboys utilized consecutive franchise tags. This leverage allowed him to secure a shorter four-year deal, while the team had initially desired a longer five-year agreement. With his astronomical cap number, Prescott still possesses significant leverage. However, instead of succumbing to this power dynamic, the Cowboys appear comfortable with allowing the situation to unfold naturally.

Owner Jerry Jones expressed his confidence in the team's current state, stating, "We are where we are. We have our contract. We're locked and loaded for this year, and we can see as we move along how we are thinking." Jones seemingly remains unfazed by the future implications, suggesting that there is still ample time for the two sides to find common ground.

Looking ahead, the next offseason in Dallas could potentially become chaotic, as Prescott appears to be headed towards free agency. The quarterback's future with the Cowboys hangs in the balance, and negotiations will be closely watched by fans and analysts alike.

As the 2024 season approaches, all eyes will be on Prescott and the Cowboys as they navigate an uncertain contract situation. Only time will tell how this chapter in Prescott's career will unfold and whether he will remain with the Cowboys for the long term.