The two sides also agreed that $126 million of that money is guaranteed, with Prescott’s signing bonus reaching $66 million, the highest figure in the NFL history for any player. Overall, the QB will earn $75 million in the first year, which is a sum that hasn’t been seen before.
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
In order to fulfill the formalities, the franchise from Texas will put a franchise tag on Prescott this Tuesday.
It was very important for several reasons that the Cowboys make a deal with their leader as soon as possible. One of them was to keep Prescott in town and secure their QB position long-term. The other was that they needed to sort out their salary cap space, which was why they gave Prescott a massive signing bonus.
Meanwhile, the player also had his reasons to work out a deal with the team quickly. He missed an entire season due to an injury, and there were a lot of doubts about his health and future performances. Prescott wanted to have a four-year deal and become a free agent once the new TV deal comes through, which is expected to increase the salary cap severely. The deal will include a No-Trade and No-Tag clause.
Prescott started the 2020 season marvelously, making the Cowboys the best offense in the league and himself the passing yards leader. Through five games, he had 1,856 passing yards and nine touchdowns with four picks. He was on the pace to have one of the best QB seasons ever.
In Week 5 and the match against the New York Giants, Prescott suffered a nasty right ankle injury that separated him from the field until the end of the year. That was the first time since his arrival to the league that he had to miss a game.
In 69 starts for the Cowboys, Prescott posted 17,634 yards for 106 TDs and 40 picks, while also rushing for 24 scores and 1,314 yards. He and Ezekiel Elliot have come to Dallas during the same draft and immediately became the axis that moved the struggling Cowboys.
So far, they would lead the franchise to two playoff appearances, but with all the latest moves Jerry Jones made, it is expected for Dallas to attack the Super Bowl already next year.