The Cowboys finally roped quarterback Dak Prescott with a nice long-term contract. ESPN’s Adam Schefter reported Prescott and Dallas officials agreed to a four-year, $ 160 million deal on Monday.
Instead of paying Prescott as a tagged player in the franchise for the second year in a row, the Cowboys locked him up throughout the 2024 season. After Prescott earned $ 31.4 million in guaranteed money playing on tag in 2020 – and with an ankle injury that limited him to five games – he wanted a combination of short-term safety and long-term flexibility. He ended up getting the two in what also worked as a team deal.
Here’s a breakdown of Prescott’s contract, total value to average annual salary, and what the structure means for his future in Dallas:
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What is the average annual salary for Dak Prescott?
Prescott, who is just 28 in July, will average $ 40 million per season over the next four years. In every job in the NFL, that puts him behind Chiefs quarterback Patrick Mahomes, who is averaging $ 45 million from the 10-year deal he signed last summer. Prescott now earns $ 1 million more per season than Texas quarterback Deshaun Watson, who is expected to be traded this offseason.
Prescott, a fourth-round pick in the 2016 NFL Draft, now also carries a higher average count than the top two picks in this draft: Jared Goff ($ 33.5 million), who went from Rams to Lions, and Carson Wentz ($ 32 million), who went from the Eagles to the Colts.
How Much Does Dak Prescott Receive in Guaranteed Money?
Prescott gets $ 126 million of his $ 160 million guaranteed. The contract has a maximum value of $ 164 million. Prescott is expected to earn $ 126 million in the first three seasons, at an average of $ 42 million per season. Prescott will earn a total of $ 75 million for his game in 2021.
In terms of total guarantees, Prescott once again sits between Mahomes ($ 141.5 million) and Watson ($ 110.7 million). He also earns significantly more than his classmates, Goff ($ 110 million) and Wentz ($ 107.97 million).
What is Dak Prescott’s signing bonus?
Prescott got $ 66 million from his contract as a signing bonus. It’s the highest number for a contract in NFL history, surpassing recent deals from Seahawks quarterback Russell Wilson ($ 65 million) and Packers quarterback Aaron Rodgers (57.5 millions of dollars).
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Can Dak Prescott be tagged or traded again with this offer?
No. Prescott obtained a no-labeling clause and a no-trade clause as part of the contract. He now has the power to readjust his contract against the inflated quarterback’s market value. He will do so when he’s still in his prime before his 32-year-old season.
What is Dak Prescott’s salary cap for 2021?
By Schefter, the Cowboys’ initial cap for Prescott’s contract is $ 22.2 million. The Cowboys, by attributing a 120% increase to Prescott from 2020, would have been capped at owing him an additional $ 37.7 million, all guaranteed for the cap. They have released a significant sum of $ 15.5 million for this year by committing $ 126 million over three years.
While the Cowboys were smart to work the numbers in their favor to avoid draining their roster, Prescott showed how much he wants to help the Cowboys win beyond his game on the field. While the Cowboys can spread the hat damage, Prescott has secured as much money as possible with a shorter deal. It is a calculated but well paid bet on itself without the risk from year to year.
The Cowboys are positioned to get some additional relief from Prescott’s cap ahead of his next deal, assuming that’s with them as well. Prescott can then work himself to ensure he remains among the highest paid quarterbacks in the game in just a few years.
Jerry Jones is paying his star players and there was no way Prescott would be allowed to walk after wide receiver Amari Cooper and running back Ezekiel Elliott secured mega deals. The Cowboys may be too fond of these players and cut bad deals (see linebacker Jaylon Smith), but because they took their time with Prescott – and because he was patient in getting the exact parameters he wanted – the team and the quarterback win. Now the only thing left is for Prescott to win the contract value with more elite and healthy play.