Dallas Cowboys quarterback Dak Prescott will play on a one-year contract in 2020 after failing to reach a multi-year deal with the team. — AFP/VNA Photo

LOS ANGELES — Dallas Cowboys quarterback Dak Prescott will play the 2020 NFL season on a one-year "franchise" player contract worth US$31.4 million after failing to get a long-term deal done with the team.

Prescott had turned down a five-year deal worth more than $34 million annually that included $110 million in guaranteed money, the Fort Worth Star Telegram reported, saying the quarterback had wanted a four-year deal.

While neither side would budge before Wednesday's deadline for teams to reach long-term deals with their franchised tagged players both seemed content for Prescott to continue on a one-year basis.

Prescott did that in 2019, playing for $2.1 million in the final year of his rookie contract and passed for 4,902 yards and 30 touchdowns with just 11 interceptions.

Another such season would set the stage for multi-million-dollar deals to come.

Other teams locked up key players for multiple seasons before Wednesday's deadline.

The Tennessee Titans agreed to terms with running back Derrick Henry on a four-year deal worth a reported $50 million shortly before the deadline.

Henry earned the 2019 league rushing title, capping a 1,540-yard, 16-touchdown season with a dominant 211-yard outing in a playoff-clinching Week 17 win over the Huston Texans.

In the post-season he led the Titans to upset wins over the New England Patriots and Baltimore Ravens before Tennessee fell to the Kansas City Chiefs in the AFC Championship game.

Wednesday's deadline was no big deal for Super Bowl champions Chiefs, who inked quarterback Patrick Mahomes' contract extension worth a possible $503 million ($445 million euros).

The Cleveland Browns invested Wednesday in defensive standout Myles Garrett, who signed a five-year contract extension that will run through the 2026 season.

The Browns did not reveal the terms of the deal with the top pick in the 2017 NFL draft, but ESPN reported it was worth $125 million.

That would make the star pass-rusher the highest-paid defensive player in NFL history. — AFP