The Dallas Cowboys and Dak Prescott have finally agreed to a contract extension. The megadeal is a four-year, $160 million contract, including $126 million guaranteed. Prescott’s signing bonus is $66 million, the highest in NFL history, with a record $75 million due in year one. The first three years of the deal average $42 million per year. The Cowboys announced they had agreed to a contract with Prescott but did not disclose terms. The Cowboys will place the franchise tag on Prescott on Tuesday as a procedural matter. Prescott’s salary-cap number for this season will be $22.2 million instead of the $37.7 million that would have come along with the franchise tag, a savings of $15.5 million against this season’s cap.
The process to reach a long-term deal with Prescott covered three offseasons, multiple mega-million offers and hours of negotiations. The Cowboys, all along, said they wanted Prescott to be their franchise quarterback for the present and future, and Prescott said he wanted to remain with the Cowboys. Dak Prescott, who will turn 28 in July, is coming off a compound fracture and dislocation of his right ankle suffered in the Week 5 win against the New York Giants in October, but he was predicted to make a full recovery during the offseason. The Cowboys have missed the playoffs in three of the past four seasons. Prescott’s absence in 2020, however, showed how integral he is to their success. Before getting hurt, he threw for 1,856 yards with nine touchdowns and four interceptions in five games.
In five seasons, Prescott has a team-record seven 400-yard passing games and 24 rushing touchdowns, the most by a Cowboys quarterback. He is second to Tony Romo in 300-yard passing games with 15. Prescott also has proved to be clutch with 15 game-winning drives. Dak Prescott, the Cowboys’ 2016 fourth-round pick, has posted a 42-27 record with 17,364 passing yards to go along with 106 touchdown passes and 40 interceptions. There were rumors that the Cowboys were looking at the Russell Wilson situation.