For more than a year, the big question for the Dallas Cowboys was whether they would be willing to work out a long-term contract with quarterback Dak Prescott. After Prescott begrudgingly signed his franchise tender a year ago, there was plenty of wonder about his future, particularly coming off of a devastating ankle injury that ended his season early last year.
However, rather than having to once again franchise tag Prescott to the tune of over $37 million, the team announced on Monday evening that they had worked out a longterm deal with the Mississippi State product to keep him in Dallas for years to come.
Cowboys agree to terms on new contract with QB Dak Prescott. pic.twitter.com/cdIjchiHGC
— NFL (@NFL) March 8, 2021
It didn’t take too long for the contract details to get reported once the Cowboys announced the deal, with ESPN’s Adam Schefter bringing word that his deal was a four-year, $160 million contract with a record-setting $126 million in guaranteed money coming his way. Ian Rapoport of NFL Network added that his deal includes a no-trade clause, meaning the Dallas signal-caller will be there at least until he decides he wants out.
Cowboys are giving Dak Prescott a four-year, $160 million deal, including a record $126 million guaranteed, source tells ESPN.
The first three years average $42 million per year.
— Adam Schefter (@AdamSchefter) March 8, 2021
Dak Prescott gets a no-trade clause and no more tag. He gets $126M guaranteed https://t.co/CzhfpdPlzq
— Ian Rapoport (@RapSheet) March 8, 2021
Dak also gets most of that money up front, with $75 million coming in 2021 thanks to a $66 million signing bonus, a record in the NFL.
Highest signing bonus in NFL history:
Dak Prescott $66M
Russell Wilson $65M
Aaron Rodgers $57.5M
Matthew Stafford $50M
Matt Ryan $46.5M
Joe Flacco $40M
Aaron Donald $40M
— Adam Schefter (@AdamSchefter) March 9, 2021
It’s big money for Dak, who gets the financial security he has wanted as well as being paid with the best in the league. Dallas is obviously confident in Prescott as the man who can help lead them to a return to prominence, but now the question turns to whether they have the roster around him to make that jump.