The Dallas Cowboys used the franchise tag to keep Dak Prescott for at least one more year and prevent him from hitting free agency. The quarterback will earn a significant raise, and his salary for the 2020 NFL season is set to be higher than initially thought.

The exclusive franchise tag is a one-year guaranteed contract, based on the top-five salaries of players at each position. According to NFL Network’s Ian Rapoport, the projection for quarterbacks is nearly $5 million more than the previous estimation.

Prescott will reportedly make $31.409 million in 2020 if he plays on the franchise tag.

Philip Rivers and Tom Brady both received notable raises in free agency to increase the average salary of the top signal callers. Rivers left the Los Angeles Chargers for a one-year, $25 million contract with the Indianapolis Colts. Tom Brady will make at least $50 million over two years with the Tampa Bay Buccaneers.

Jared Goff leads all quarterbacks with a $36 million cap hit in 2020.

Prescott won’t necessarily play on the franchise tag. He remains in talks with the Cowboys regarding a long-term contract, one that could reportedly pay him around $35 million per season. The two sides have until July 15 to agree on a multi-year deal.

No matter what happens, Prescott will earn more money than he ever has for one season by a wide margin. A fourth-round pick in the 2016 NFL Draft, Prescott has only been paid $4.9 million by Dallas over the course of his four-year career.

Prescott had a $2.025 million salary for the 2019 season. He only made $630,000 in the previous season.

The 2019 season was the best of Prescott’s career, at least statistically. He set career-highs with 4,902 passing yards, 30 passing touchdowns and 8.2 yards per attempt. Prescott finished in the top five among all quarterbacks in each of those categories.

Dallas went 8-8 and missed the playoffs last season. It was the first time that Prescott didn’t have a winning record.

Amari Cooper signed a five-year, $100 million contract with the Cowboys in March. Dallas gave Ezekiel Elliott a six-year, $90 million deal in September.

Dak Prescott Dallas Cowboys
Dak Prescott #4 of the Dallas Cowboys reacts after carrying the ball against the Seattle Seahawks in the fourth quarter during the Wild Card Round at AT&T Stadium on January 05, 2019 in Arlington, Texas. Tom Pennington/Getty Images