Watch Now: Dak Prescott Signs $31.4M Franchise Tender (4:01)

With the July 15 deadline quickly approaching, Dallas Cowboys fans are on the edge of their seats -- hoping a Dak Prescott extension is close to coming to fruition. According to a new report, however, that is seeming more and more unlikely. On Monday, Clarence Hill of the Fort Worth Star-Telegram reported that the two sides have not had contract talks since March -- when the Cowboys offered a five-year deal worth more than $34 million per year with $110 million guaranteed.

Last month, Prescott officially signed the exclusive franchise tag that will pay him $31.4 million in 2020. It was a move that showed good faith, as it proved Prescott had legitimate intentions of signing a long-term contract with Dallas at some point in the future. CBS Sports' original reporting in February noted the biggest sticking point in the talks was the number of years involved and not the average annual salary, with the Cowboys seeking upwards of a seven-year term and Prescott countering with three-year offer. Both sides have since compromised and the team stands firm at five years while Prescott plants his flag on four, with the hopes of renegotiating again sooner than later under the cash-rich salary cap structure, which will be provided by both the new collective bargaining agreement and new NFL television contracts. 

CBS Sports' Patrik Walker reported in June that there had not been any traction in talks since mid-spring, and there were several reasons for that. One, the passing of Prescott's brother caused both sides to take a pause, and the quarterback also had turned his focus to social injustice -- offering up half of his 2019 salary to promote equality. It was assumed that Prescott and the Cowboys would enter talks again in July, but apparently that has not happened. 

Just last week, Kansas City Chiefs quarterback Patrick Mahomes signed a monster, 10-year contract extension worth up to $503 million. Walker noted that both the Cowboys and Prescott could benefit from this landmark deal, and it could create a more robust and intriguing dialogue if indeed they do engage in talks within the next two days.