The Dallas Cowboys and quarterback Dak Prescott have mutually agreed that there will be no adjustment to his current contract entering the 2024 season according to Ian Rapoport of NFL.com.

At this point, Prescott is scheduled to become a free agent in March 2025.  It was assumed the Cowboys would need to extend Prescott's contract this offseason to lower the massive salary cap figure. Ultimately, the club and QB decided it was best to play out the deal and figure things out on the other side of the season.

Earlier this month, the Cowboys converted a $5 million roster bonus into a signing bonus, shaving $4 million off Prescott's salary cap figure. That number still sits at a whopping $55.445 million. The club also added two additional void years through 2028.

Prescott signed a four-year, $160 million contract in 2021, which included no-trade and no-tag clauses. With no extension forthcoming, Prescott is on his way toward free agency in 2025. If Dallas doesn't eventually sign the QB to an extension, he'd still count $40.46 million against the 2025 salary cap.

In 2021, Prescott owned all the leverage after Dallas used back-to-back franchise tags on the QB. That leverage allowed him to negotiate a shorter, four-year deal than the five-year pact the club preferred. Given his massive cap number, Prescott still owns a ton of leverage. Instead of bowing to that power, the Cowboys seem to be content to let things play out.