SANTA CLARA, CA - AUGUST 10: Quarterback Dak Prescott #4 and team owner Jerry Jones of the Dallas Cowboys hug each other during pregame warm ups prior to the start of an NFL preseason football game against the San Francisco 49ers at Levi's Stadium on August 10, 2019 in Santa Clara, California.

Report: Cowboys, Prescott resume extension talks

Thearon W. Henderson / Getty Images Sport / Getty

The Dallas Cowboys and franchise-tagged quarterback Dak Prescott have resumed contract negotiations, a source told ESPN's Ed Werder.

Prescott was hit with the exclusive tender, which means he can't negotiate with another team. If the two parties don't agree to a long-term extension by July 15, the signal-caller will earn $33 million on the one-year deal.

The 26-year-old reportedly turned down a new contract worth $33 million per season with $105 million guaranteed in early March.

That annual figure would've put Prescott behind only Russell Wilson ($35 million), Ben Roethlisberger ($34 million), Aaron Rodgers ($33.5 million), and Jared Goff ($33.5 million).

Prescott is looking for his first career extension after earning $4.03 million over four years on his rookie deal. In 2019, the passer produced career highs in yards (4,902) and touchdowns (30).

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