The Dallas Cowboys have reached a contract agreement with quarterback Dak Prescott, sources told Yahoo Sports' Charles Robinson.
The Cowboys confirmed the deal Monday afternoon.
Record money in first year
ESPN's Adam Schefter reports that the extension is for four years and $160 million with $126 million guaranteed and includes a no-trade clause. The contract includes a $66 million signing bonus and is worth an NFL-record $75 million total in its first year, according to the report.
Lengthy negotiations conclude day before franchise tag deadline
The deal brings an end to a lengthy saga that saw Prescott play under the franchise tag and owner Jerry Jones repeatedly address the negotiations in public. While playing under the one-year franchise tag last season for $31.4 million, Prescott suffered a season-ending compound fracture of his right ankle that required multiple surgeries.
Monday's news arrives a day before the franchise-tag deadline for the 2021 season. Another year under the franchise tag would have been worth roughly $37 million for Prescott.
Prescott reportedly balked at $33M annually in 2019
The two sides were reportedly close to a deal in 2019 for $33 million annually before Prescott reportedly asked for more. Jones' son and Cowboys vice president Stephen Jones addressed that report in 2020 prior to Prescott signing the franchise tender.
“I don’t want to get into the details, but we have offered him significant money,” Jones told Fort Worth Star-Telegram. “The money we have offered Dak no matter how you look at it would put him as a top five quarterback in the NFL. That is the way we feel about him. He is one of the best.”
Did Cowboys' struggles after injury give Prescott leverage?
Prescott, 27, is approaching his sixth NFL season. Prior to signing the franchise tender in 2020, he played his entire career under a rookie contract he signed as a fourth-round pick that paid him less than $5 million total.
In five seasons, Prescott has completed 66 percent of his passes for 255.5 yards per game on 7.7 yards per attempt while tallying 106 touchdowns and 40 interceptions. The Cowboys are 42-27 with Prescott under center.
Prescott has twice made the Pro Bowl and led the Cowboys to playoff appearances after the 2016 and 2018 seasons. The Cowboys went 4-7 last season after Prescott's injury and missed the playoffs.
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