It has been preparing for 18 months. Contract negotiations take place on an almost endless loop. But it’s finally here. The Dallas Cowboys and Dak prescott have accepted the terms of a new contract.
In absolutely shocking news, the Cowboys made the announcement themselves on Monday. This keeps the star quarterback out of the NFL free agent market and eliminates what would have been a huge salary cap in 2021 for Dallas.
“The Cowboys announced Monday night that Prescott and the club have agreed to the terms of a new contract. The conditions were not disclosed; further information and details will be released in an official press announcement on Wednesday, the club said in a press release, “ the Cowboys announced on Monday. “Both sides have agreed to terms ahead of Tuesday’s tentative deadline to place a second consecutive franchise tag for Prescott.
Dallas Cowboys and Dak Prescott agree to terms of new contract
As stated above, there has been interminable negotiations between the star quarterback and his team. Things seemed to take a different turn once Prescott suffered a devastating ankle injury five games in the 2020 season.
It’s obvious both sides have done what they can to get something done before the NFL franchise deadline. If that hadn’t happened, the Cowboys would have had to shell out $ 37.7 million against the NFL salary cap in 2021. Given their financial situation, this seemed like a less than ideal scenario.
Conditions of Dak Prescott’s contract extension with the Dallas Cowboys
According to ESPN’s Adam Schefter, Prescott’s contract will net him $ 160 million over four seasons. He wins a record $ 126 million guaranteed with an average of $ 42 million per season in the first three years of the contract. It’s a huge payday. Absolutely massive.
The previous record for fully guaranteed money went to Atlanta Falcons quarterback Matt Ryan when he received $ 94.5 million in 2018. Despite signing a $ 450 million contract over 10 years with the Kansas City Chiefs last year, Patrick muhammad received only $ 63.08 million in fully secured cash. Yeah, Dak Prescott took it big in here.
As for additional information from the Prescott extension, the remaining numbers are absolutely breathtaking. He gets a signing bonus of $ 66 million and will earn a total cash amount of $ 75 million in the first year. It remains to be seen how the 2021 NFL Cowboys salary cap will be affected by this. But it’s safe to assume Prescott’s hat-trick will be a far cry from what it would have been under the franchise label.
Prescott, 27, more than deserved it. In 69 career starts, the former Mississippi state mid-round pick had 130 total touchdowns against just 40 interceptions. In 2019, Prescott passed north by 4,900 yards with 30 touchdowns and 11 picks.
There will be a ton of financial ramifications with this huge news from Dak Prescott. What we do know is that he’s finally locked in Big D. That’s no small feat for the Pro Bowl caller.