Dak Prescott, Cowboys Agree To New Contract
CONGRATULATIONS TO DAK PRESCOTT!!!!
FRISCO, Texas – Dak Prescott’s long-awaited new contract is finally here.
The Cowboys announced Monday night that Prescott and the club have agreed to terms on a new deal. Terms have not been disclosed; further information and details will be released at a formal press announcement on Wednesday, the club said in a press release. According to multiple reports, it’s a four-year deal worth at least $160 million that includes over $120 million guaranteed.
Both sides have agreed to terms before Tuesday’s tentative NFL deadline to place a second straight franchise tag for Prescott. This year’s one-year tag for quarterbacks is worth $37.7 million. While the full details aren’t yet known, a new multi-year deal will conceivably help the Cowboys spread out the money and reduce the 2021 salary cap hit, creating more room to operate in free agency when the new league year begins next week.
The Cowboys and Prescott’s representatives have been negotiating on and off for roughly two years once Prescott, 27, became eligible for a new contract in 2019 following his third NFL season. Last year Prescott played on a one-year, $31.4 million franchise tag before a compound ankle fracture and dislocation ended his season after five games.
The Cowboys have remained confident that Prescott will be cleared for on-field activities sometime this spring, and indeed, his injury rehab with the Cowboys’ athletic training staff has been on track this offseason.
Now he has long-term security, too.
Prescott set career highs in 2019, the final year of his rookie contract that paid him about $2 million. His 4,902 passing yards were one yard short of Tony Romo’s single-season franchise record, and he reached 30 touchdown passes for the first time ever. In 2020, he was on an early-season pace to set the NFL single-season record for passing yards (1,856) before the Oct. 11 ankle injury against the Giants.
Prescott’s rise is among the most impressive in the league at any position, particularly at quarterback given its in-game demands and off-the-field scrutiny. Drafted in the fourth round out of Mississippi State in 2016, Prescott went from fourth string in the spring to starter by Week 1 following preseason injuries to former quarterback Tony Romo and Kellen Moore, who’s now the Cowboys’ offensive coordinator.
Prescott won NFL Offensive Rookie of the Year honors that season and the Cowboys won a franchise-record tying 13 games, with running back Ezekiel Elliott also claiming the NFL rushing title in his first year.
All along the Cowboys have stated that a new deal for Prescott was their top priority. And all along Prescott has maintained he wants to be a Cowboy his entire career.
Finally, a new deal is done.
Dak Prescott
Dak Prescott signed a 4 year, $160,000,000 contract with the Dallas Cowboys, including a $66,000,000 signing bonus, $126,000,000 guaranteed, and an average annual salary of $40,000,000. In 2021, Prescott will earn a base salary of $9,000,000 and a signing bonus of $66,000,000, while carrying a cap hit of $22,200,000 and a dead cap value of $95,000,000.
| Bonus Breakdown | Cap Details | Cash Details | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year | Age | Base Salary | Signing | Roster | Cap Hit | Dead Cap | Yearly Cash | ||||||||
| 2021 |  |
28 | $9,000,000 | $13,200,000 | – | $22,200,000 | $95,000,000 | $75,000,000($75,000,000) | |||||||
| 2022 | |
29 | $20,000,000 | $13,200,000 | – | $33,200,000 | $72,800,000 | $20,000,000($95,000,000) | |||||||
| 2023 | |
30 | $31,000,000 | $13,200,000 | – | $44,200,000 | $39,600,000 | $31,000,000($126,000,000) | |||||||
|
|||||||||||||||
| 2024 | |
31 | $29,000,000 | $13,200,000 | $5,000,000 | $47,200,000 | $26,400,000 | $34,000,000($160,000,000) | |||||||
| 2025 | |
32 | – | $13,200,000 | – | $13,200,000 | $13,200,000 | – | |||||||
| 2026 | |
33 | – | – | – | – | – | – | |||||||
| 2025 | |
34 | UFA | ||||||||||||
|
Contract Notes:
 The Cowboys broke the Internet on Monday with the announcement that they had signed Dak Prescott to a four-year contract extension worth a total of $160 million, with a record amount of guaranteed money in the form of $126 million. It’s a moment that calls for plenty of celebration, both for the team locking down their franchise quarterback and for Prescott finally getting the big deal and long-term financial security. The Cowboys do have a lot of things working in their favor right now. Prescott will be there for at least the next four years, as well as several other really talented players. They’re led by a head coach who’s already won a Super Bowl in Green Bay, flanked by two coordinators who drew head coaching interest this past offseason and another who already won 43 games as a head coach and won a Super Bowl as a coordinator. And they have the tenth overall pick in the draft, a golden opportunity to add a really talented young player to this team. WHO IS DAK PRESCOTT Rayne Dakota Prescott(born July 29, 1993) is an American football quarterback for the Dallas Cowboys of the National Football League (NFL). He played college football for the Mississippi State Bulldogs and was selected by the Cowboys in the fourth round of the 2016 NFL Draft. Intended to serve as a backup in his rookie season, Prescott became the Cowboys’ starting quarterback after starter Tony Romo was injured in the preseason, and earned recognition during the year for his on-field success, which included helping the team clinch the top seed in their conference. Prescott set several rookie quarterback records and was named the NFL Offensive Rookie of the Year, and also earned a Pro Bowl selection. His career passer rating of 97.3 currently ranks seventh all-time. Career highlights and awards
 Cowboys franchise records
Looks like Dak Prescott and Jerry Jones are getting ready for an even bigger payday for both of them — coming soon. This deal is for just four years, which means Prescott will be a free agent again at the still-in-his-prime age of 31. If the Cowboys want to keep Prescott — who also has a no franchise tag clause in this contract — they’ll have to be back at the negotiating table in just three years. That gives Prescott a fortuitously timed second bite at the free agent apple right when the new media deals, which are being negotiated now and which could command double the rights fees from the television networks, will be exploding team coffers, with the pandemic-caused revenue dip for 2021 long in the rearview mirror. Nobody knows that better than Jones. And, presumably, Prescott and his agent.
|
|||||||||||||||
