The Dallas Cowboys and quarterback Dak Prescott have reached an agreement on a historic four-year contract extension worth $240 million, according to Jori Epstein of Yahoo Sports. The deal, confirmed by team owner Jerry Jones on Sunday, makes Prescott the highest-paid player in NFL history.
“The figure is right. What it means is a big commitment to the next five years,” Jones said. “I hope Dak is our quarterback for the rest of my time.”
Prescott’s new contract gives him an average annual salary of $60 million, surpassing the $55 million earned by Joe Burrow, Trevor Lawrence, and Jordan Love. The extension also includes $231 million in guaranteed money, which breaks the previous record set by Deshaun Watson, who secured $230 million in guaranteed funds.
Jones expressed his surprise at the size of the guarantee. “I know that these numbers are beyond anything that I could have ever imagined,” he told ESPN’s Todd Archer.
The agreement was finalized just hours before the Cowboys’ Week 1 game against the Cleveland Browns. Reports indicate that the front office was eager to complete the deal before the game.
Prescott’s contract status had been a major talking point throughout the Cowboys’ offseason, with the quarterback set to enter the final year of his prior four-year, $160-million deal. That contract contained a no-trade and no-tag clause, which would have allowed Prescott to enter free agency in 2025. In August, Prescott mentioned that the timing of his contract resolution would reflect the franchise’s view of him.
With Prescott’s extension, the Cowboys now have both the NFL’s highest-paid quarterback and second-highest-paid wide receiver, as CeeDee Lamb secured a four-year, $136-million deal in August, with an annual average of $34 million.
Last season, Prescott threw for 4,516 yards and led the league in passing touchdowns with 36. The Cowboys finished the regular season with a 12-5 record and won the division, but they were eliminated in the wild-card round by the Green Bay Packers, 48-32.
Since joining the Cowboys as a fourth-round draft pick out of Mississippi State in 2016, Prescott has compiled a 73-41 record as the starting quarterback, throwing for 29,459 yards, 202 touchdowns, and 74 interceptions. However, his playoff performance has been less successful, with a 2-5 record in postseason appearances.
