Prescott, Cowboys agree to terms on new contract

Reports: 4-year, $160 million extension; $126 million guaranteed

New York Giants safety Adrian Colbert (34) defends as Dallas Cowboys quarterback Dak Prescott (4) catches a pass for a touchdown thrown by wide receiver Cedrick Wilson in the first half of an NFL football game in Arlington, Texas, Sunday, Oct. 11, 2020. (AP Photo/Ron Jenkins) (Ron Jenkins, Copyright 2020 The Associated Press. All rights reserved.)

ARLINGTON – Dak Prescott isn’t going anywhere.

After more than two years of bitter disagreements, contract negotiations and franchise tags, the Dallas Cowboys have finally agreed to terms on a new contract with star quarterback Dak Prescott. The team announced the deal in a two-sentence press released late on Monday afternoon and stated that further details “will be released at a formal press announcement on Wednesday.” Tuesday, March 9, was the franchise tag deadline for the 2021 season.

Early reports from ESPN’s NFL Insider Adam Schefter suggest that the contract is a 4-year, $160 million extension, which includes a record $126 million guaranteed. That means Prescott will earn an average of $42 million a season and will get $66 million just by signing the contract.

Throughout the negotiation process, Prescott’s team has been adamant about limiting the scope of any new deal to four years. The Cowboys wanted to sign Prescott to a five-year deal.

Prescott and the Cowboys had previously been unable to agree on any long-term contract during the past two offseasons. During the 2020 season, Prescott played under the franchise tag before suffering a season-ending ankle injury in a game against the New York Giants on October 11. Prescott has since recovered from the injury and appears ready to play next season.

A fourth-round draft pick in 2016, Prescott has compiled a 42-27 overall record and has thrown for 17,634 yards, 106 touchdowns and 40 interceptions over the past five seasons. He has also scored 24 rushing touchdowns, the most by a quarterback in franchise history, and has 15 game-winning drives to his name.

In the Prescott era, Dallas has only qualified for the playoffs twice, in 2016 and 2018. Dak is 1-2 in career playoff games and has not advanced past the NFC Divisional Round.


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Andrew has covered athletics of all levels for more than five years and is dedicated to shining a spotlight on local San Antonio athletes and their stories.