Cowboys front office source says that the cap hit for Dak Prescott in 2021 will be $22.2 million.— Mike Leslie (@MikeLeslieWFAA) March 9, 2021
Five years ago the Dallas Cowboys tried twice to draft what they thought could be a quarterback to develop for a future beyond Tony Romo.
They missed on Paxton Lynch. They missed on Connor Cook. Ultimately they settled for Mississippi State’s Dak Prescott in the fourth round. It has been said that the third time is the charm.
The other side of that three coin is that that is how many strikes you get before you are ruled out. This offseason marked the third one - and the most pivotal - in which the Cowboys could negotiate a long-term deal with their franchise quarterback. It was always going to either lead to heartbreak or serious engagement.
We finally have an answer.
The Dallas Cowboys have finally given Dak Prescott a long-term extension
It was two years ago in which the Cowboys were first eligible to give their quarterback an extension. They didn’t properly evaluate the market and what it would become, and as a result they saw plenty of other teams pass them by.
A lot has been said. Opinions have been shared. Venting has been done. It has taken far too long, but the Dallas Cowboys finally did it. Dak Prescott is here to stay.
Just just in from the Dallas Cowboys:— Mickey Spagnola (@Spags52) March 8, 2021
The Dallas 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.
We do not know the exact terms of the deal are yet. It is going to be a lot of money, but this is the most important position in the game. It is worth it.
The Dallas Cowboys have an offense that figures to be one of the better ones in the National Football League. Their organization has seen Dak Prescott operate as their leader just about from day one.
Whatever distraction that this has presented for two years is now over. It is time to get to work.
Update: 6:55pm ET
The terms are in.
It is a four-year deal worth $160M. That is $40M per year.
Cowboys are giving Dak Prescott a four-year, $160 million deal, including a record $126 million guaranteed, source tells ESPN.— Adam Schefter (@AdamSchefter) March 8, 2021
The first three years average $42 million per year.
The deal includes a no-trade and no tag clause, per source. https://t.co/v8L2tZqtZe— Adam Schefter (@AdamSchefter) March 8, 2021
What’s more is that $126M is guaranteed. A job well done by Dak Prescott.