The Dallas Cowboys are making progress in their negotiations with quarterback Dak Prescott on a new long-term contract that could approach or surpass $30 million annually, a source told the Fort Worth Star Telegram's Clarence E. Hill Jr.

Prescott is entering the final year of his rookie deal and the reported $30 million per year would make the 25-year-old one of the league's top five highest-paid quarterbacks.

"We are sold on Dak," Cowboys owner Jerry Jones told the "Rich Eisen Show" on Monday. "We do want to have him for the long term. We think he is worthy of investing in for the long term. He is going into his fourth year now in the NFL.

"When you look at the snaps he's had, when you look at the situations he's been in, when you look at, first of all, how he got here, and then you see really how he has performed ... we see real upside in Dak."

The Cowboys will have a slew of contracts to work out in the coming year. Corner Byron Jones and linebacker Jaylon Smith are both entering the final years of their contracts, and Ezekiel Elliott - whose fifth-year option keeps him with the club until 2020 - will likely also see a new deal.

Dallas re-signed defensive end DeMarcus Lawrence to a five-year, $105-million contract earlier this offseason.