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BREAKING: Cowboys, QB Dak Prescott Agree on New Contract

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.

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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.

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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.”

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.

What do you think?

Jess Haynie

Written by Jess Haynie

Cowboys fan since 1992, blogger since 2011. Bringing you the objectivity of an outside perspective with the passion of a die-hard fan. I love to talk to my readers, so please comment on any article and I'll be sure to respond!

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  1. Jerry Jones always overpays for overrated talent. Dak was very good against poor teams and terrible against average and good teams. That speaks volumes. Why would you overpay for Dak when you probably need to rebuild. Plus Dak is damaged goods now. Just like he selected the wrong head coach and defensive coordinator. He’s like Jack in the beanstalk, he always thinks he’s buying magic beans by giving up the cow (lots of money).

  2. As a long time Cowboy fan, I hope he can live up to this very generous contract. Time will tell, folks. I am hoping for the best, now that this resolution has finally been made.

  3. Need no more proof than this that Dallas will never be Super Bowl champs again under the Jones. NFL moving to 17 games so Boys can’t go 8-8. Dak is a nice guy but $40 million dollars a year! Outrageously dumb!! Been a Cowboy fans for 50 years and always will be but cannot wait to see all the excuses when we continue to be sub par team. I can see Dak at the podium now after each game telling us how he will get better, learn from this etc… just like Romo and Red did. And you can take that to the bank.

    • What does Dak Prescott’s contract have to do with it? If you don’t pay Dak, you’re actually further from a Super Bowl than you would be if you paid him. Paying Dak keeps the window open.

  4. Glad to have it behind us. Now we know who our QB will be. Obviously Dak has to play at a high level to justify this contract. At least initially this gives us more financial flexibility for free agency. Need to have a good draft and start trimming the fat from this bloated team.

    TIME TO GET TO WORK!

  5. My views on DP and this contract drama were probably known here. But now that this is the reality, and trying to stay positive, we at least have some stability on offense. Now we should concentrate on building our defense come draft time. Building our team back to respectability or better should be Cowboy fans top priority. I’m a die hard Cowboy fan and nothing will change that, although recent happenings connected to the NFL have been very trying to say the least.

    • Couldn’t agree more VAM. I think free agency and the draft must focus on getting talent added to the defense. They still have a lot of work to do, but if they can even be an average defense that is good at rushing the passer and not swiss cheese in the run game, they’ll be improved.

  6. All I can say is I hope we can still draft smart and get good rookie talent on rookie pay! I like Dak but I hope we didn’t dig ourselves in a hole to where we can’t get Quality talent on the OL to protect him!! We should be ok this year if everybody stays healthy on the offensive side of the ball ! Now we better draft defense defense defense and hope we can get some people that can come in and play on day one!

  7. he isnt worth 40 million he wouldnt have gotten it on the open market . we need defensive free agents not restruring contracts that will hurt us in the future

    • Yeah, he would have.

      Restructuring contracts only hurts if players don’t complete the contracts. No reason to believe that Amari Cooper, Zack Martin, or DeMarcus Lawrence won’t see the end of their deals.

  8. Thanks Jerry for your great work I was able to cancel DTV today no more need for NFL Sunday ticket I am from North Carolina and have been a avid Cowboys fan of 45 years but will not spend my money to watch a average team without hope anymore thanks for the memories actually I should be thanking Jimmy Johnson because the current administration had very little to do with the glory years this is a joke

  9. All right!!! Whoo whoo. We got a qb of the future. Our prayers our over. We will now be superbowl running for sure. This is a great upgrade to…… to…….. we just spent 40mil. For an upgrade?
    Oh!
    So let me understand this right. We have (as a team) been sub par, even struggling in the worst division in football. Struggled to stop anybody, struggled in the red zone, got massive 50 yard drives only to stall, and instead of improving all these things with a tight budget to to virus. We decide to fill the pockets of a guy who is already on the team and will more than likely wave bye to a few of his friends (and team needs) because he got a promotion.
    I guess dak is a jukebox more money you give him the more tds and wins he gets. I guess 4 mil. Wasn’t enough money he was only playing at 10% but now he has received 40 mil. He will be God tier awsome, look out mahomes. Dak wants to get paid!!!! He is coming for u.

    What I don’t understand is this and please I have read a million article and simply put IT DOESNT MAKE SENCE. Why do we pay a guy 40 mil dollars for stats? I ask this because it can’t be because we are winners.
    Why don’t we take that money and build a team instead of paying 1 man because he said he can improve or because he has padded stats. He is getting paid legend money so I assume he is a legend. I assume he has taking the team on his back and carried it to victory. He very rarely relies on a defense to bail him out. He is able to make something out of nothing and still have precision passing when under distress. Even when the oline is struggling he is able work with what he has and still complete passes, call appropriate audibles, and deliver wins.
    If u look at the last few sentences and say no one is that good. I say to you i just name 4 qbs that dothis and not only do they do this but have been doing this for longer than Prescott has been in the NFL. On top of that officially these qbsare now getting paid less. If u need me to name them than well, stop reading this article what a season of football then come back because u know nothing of football.

    You want a super bowl u can’t do this!!!! U are dooming yourself period. I love those who say well we can restructure contracts! WHY!! Because we are bringinextra help?
    NO! Because your so called friend is taking money out of your pockets! Because he feels he deserves it more. Not to say elliotts contact isnt bloated Smith, and d-law. Stars are great! IF U HAVE THEM!
    All in all you are taking 40 million of cap space and flushing it without increasing or gaining anything!. So, I will ask This? Can Dallas afford this hit to the cap with no gain?
    I like dak if he continues to improve. Is he worth 40 mil? Somebody sure seems so. I don’t care how much he gets paid. I do care how it effects the team.
    All those Dalton haters out there. He did just fine under the circumstances. Remember this was his 1st year with Dallas. How many years has dak been with Moore? Dalton came in and made a potential contendener. I Wil, not say he was elite. And I Wouldent pay him as such. What u should have done pay dalton 2 year contract. Draft a rookie. BUILD YOUR DEFENSE with the left over. Oh boy you would have a couple of dollars. He’ll u could have even make a play on JJ watt running opposite of d law. Why this team is afraid to make blockbuster deals for players that are proven is beyond me. But we have no problem paying for friends!
    Shame, interesting to note for all those that hate j.jones, I remember last year EVERYONE LOVED HIS BEAUTIFUL DRAFT last year! Didnt pan out so he is hated! Funny! so nknock off that crap. Everyone has good and bad drafts. He is just piss poor in negotiations. Period!
    Hopefully we can build a defense with What is left. Now we officially have our qb of the future, wrs of the future, rb of the future. Wonder what the rest of this offseason will bring. No more dak-contract talks whoot!

  10. In the language of the deal, Dak actually did receive the second franchise tag. Obviously he isn’t playing under it, but it means when this deal runs out it’s financially nonsensical for the Cowboys to give him the 3rd tag. Dak will have all of the leverage in the world when he hits the market at 31.

  11. What the hell is all this negativety? Are any of you people really Cowboy fans? Ive heard better comments from Eagle backers! Im 67 now and been solid Silver and Blue since Tom Landry first brought the Boys on the field and I make no apologies for it! Dak Prescott is one of the hardest working and most driven QBs in the league, and your all a bunch of puss whiners! Get lost, we dont need you, theres Greyhounds leaving for Houston daily!

  12. John, I don’t like this deal because of the following reasons,
    1. You are tying up a ton of money on QB that has not proven to lead the Cowboys down the stretch. And he has had great weapons to do it…. OL in its prime, Zeke in his prime, a group of elite receivers…. and he has not been able to deliver a Conference Championship.
    2.He is a good QB but not a great one a la Mahommes, Brady, Wilson or Rogers.
    3. No trade clause, no franchise tag available…. contract in these terms could have been signed a long time ago (why didn’t Jerry get it done a while back? I believe the team has its doubts on him).

    I understand this is what the market dictates at this point in time and that it’s possible there was no better solution to the QB issue with the Cowboys, so they really had no other alternative. I also understand Dak is a hard worker and a good leader for the team. Don’t get me wrong.

    But that doesn’t mean I personally like this deal. There is no right or wrong at this point in time. Only time will tell if the deal was good or bad for the Cowboys.

  13. There’s no excuse next season , Dak got paid and is happy , Zeke got paid and happy , Coop got paid and happy , D-Law got paid and happy , as of RN we got best QB in division by far , unless Hurts makes a BIG jump or WFT makes a move for someone like D Watson , no excuse for us not to win division AT LEAST , it’s time these guys cowboy up wink wink and make good on their contracts

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