Finally! The Dallas Cowboys and Quarterback Dak Prescott have reportedly agreed on a new contract. According to one source, the deal is for four years and a total compensation of $160 million.
This includes $126 million in guarantees, which is huge for a player coming off a major leg injury. The four years, which is what Dak has wanted since last year’s negotiations, allow him to potentially become a free agent again when he’s just 31 years old.
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
Announcement from the Cowboys:
“The Cowboys agreed to terms on a new contract with quarterback Dak Prescott on Monday. Further information and details will be released at a formal press announcement on Wednesday.”— Rob Phillips (@robphillips3) March 8, 2021
This should also be a win for the Cowboys as it prevents them from having to place a second franchise tag on Prescott, which they would’ve had to by 4:00 pm tomorrow. It opens up more financial flexibility for next week’s start to free agency than the franchise tag would’ve allowed.
Though Dak’s average compensation will be more than the $37 million franchise tag would’ve been, multiple years in the deal should allow Dallas to do some restructuring and create more cap space.
There is sure to be plenty of new information and analysis in the coming days and with free agency on the horizon. But for now, Cowboy fans who were rooting for Dak Prescott can enjoy this news and know who their QB of the future is.
