Dak Prescott and Cowboys Reach Historic $240M Contract Agreement

The Dallas Cowboys have locked in their star quarterback, Dak Prescott, with a monumental four-year contract extension worth $240 million. This groundbreaking deal positions Prescott as the highest-paid player in NFL history, ensuring he remains with the Cowboys until the conclusion of the 2028 season, according to sources speaking to ESPN.

Prescott’s contract includes an astonishing $231 million in guaranteed money, setting a new record in the league. The previous record for the most guaranteed money was held by Deshaun Watson of the Cleveland Browns, whose deal was worth $230 million.

With an average annual value of $60 million, Prescott’s contract easily surpasses the recent deals signed by top quarterbacks such as Joe Burrow of the Cincinnati Bengals, Jordan Love of Green Bay, and Trevor Lawrence of Jacksonville, all of whom secured deals averaging $55 million per year. Additionally, Prescott received an unprecedented signing bonus of $80 million, topping the former record of $75 million held by Love.

The Cowboys made the announcement regarding Prescott’s contract extension early Sunday. However, specific terms of the deal were not disclosed at that time.

This record-setting agreement emerged just hours before the Cowboys were set to face the Cleveland Browns in their season opener. Reports indicate that negotiations between Prescott and the Cowboys were ongoing through the weekend.

In a brief period, the Cowboys have secured Prescott’s record-breaking deal along with contracting CeeDee Lamb as the second-highest-paid wide receiver in the league, both extending their commitments through 2028.

This deal for Prescott also mitigates any potential salary cap troubles for the Cowboys, allowing them to avoid seeking a franchise quarterback via free agency, trade, or the draft in the upcoming seasons. Although the journey to securing this lucrative contract was less intricate than the previous one that made Prescott a top earner in team history, it still entailed its share of tension.

At the onset of this season, Prescott was poised to play the final year of a four-year, $160 million contract he signed back in 2021. Throughout the offseason, negotiating terms between Prescott and the Cowboys proved challenging until both parties agreed to meet ahead of the season kickoff.

By finalizing the contract on Sunday, the Cowboys have successfully retained Prescott, preventing him from entering free agency next winter, a time during which many franchises would likely be searching for a quarterback. Moreover, Prescott’s previous contract included a no-trade and no-franchise-tag clause, allowing him to become one of the few unrestricted quarterbacks in their prime on the market.

Now Prescott can continue his journey with the Cowboys, a team he has developed a strong relationship with head coach Mike McCarthy. After a short stint due to a serious ankle injury in 2020 that limited him to just five games, Prescott has since led the Cowboys to the playoffs in each of the last three seasons, recording a commendable 36 wins against just 15 losses with McCarthy at the helm.

This contract gives Prescott an opportunity to end his career as the franchise’s all-time leader in key statistical categories including wins, passing yards, touchdown passes, completions, and attempts. However, a primary objective for both Prescott and the Cowboys remains the pursuit of a Super Bowl title, a feat that has eluded them for nearly three decades.

At 31 years old, Prescott finished the last season with 4,516 passing yards and an impressive 36 touchdown passes, leading the league in that category. As a three-time Pro Bowler, he currently stands as the third-leading passer in Cowboys history, trailing only legends Tony Romo and Troy Aikman, with his tally of 202 touchdown passes placing him second in franchise history.

Throughout his career, Prescott has led the Cowboys to five postseason appearances; however, they have yet to progress beyond the divisional round. In 2016, the Cowboys, possessing home-field advantage, were eliminated in the divisional round by the Green Bay Packers, a team coached at that time by McCarthy. Last season, the Cowboys faced the Packers again in the wildcard round, where despite Prescott’s impressive 403 yards and three touchdowns, they fell short, losing by a significant 27-0 score in the first half.

The Cowboys’ last Super Bowl victory took place during Super Bowl XXX with Aikman leading the team. Their last appearance in an NFC Championship Game occurred during the 1995 season, making them one of the teams with the longest title game drought in the league.

Prescott is keenly aware of the expectations placed upon him to achieve a Super Bowl victory, aiming to live up to the standards set by Hall of Fame quarterbacks Roger Staubach and Aikman. He also actively engages with the community through his Faith, Fight, Finish Foundation and was honored as the Walter Payton Man of the Year in 2022.

Source: ESPN