Dak Prescott, Cowboys agree to record-breaking four-year, $240M contract extension

The contract makes Prescott the highest-paid player in NFL history

Frank Schwab, Yahoo Sports Staff ·

Dallas Cowboys fans, breathe easy. Dak Prescott’s bank account, be excited.

Prescott and the Cowboys agreed to a four-year, $240 million extension on Sunday, including a record $231 million guaranteed, resolving the team’s — and perhaps the NFL’s — biggest impending contract situation and keeping its star quarterback around for the foreseeable future.

Before his team kicked off against the Cleveland Browns on Sunday afternoon, Cowboys owner Jerry Jones told Yahoo Sports’ Jori Epstein, “There’s a lot of me that thinks, hopes, that Dak is the quarterback for the rest of my time. And that’s not just limited to the terms of this contract either. I’ve got a lot of confidence in him.”

The deal, which has Prescott earning $60 million annually, is the biggest in NFL history. He topped the $55 million per season high mark set by Joe Burrow, Trevor Lawrence and Jordan Love. His $231 million guaranteed beat Deshaun Watson’s previous record by $1 million.

Prescott and the Cowboys finalized the contract hours before Dallas will kick off the 2024 season against the Browns in Cleveland. Prescott also reportedly receives an $80 million signing bonus — breaking another record.

While the Cowboys’ playoff failures, to which Prescott’s play has contributed, will continue to be a focus until they can get over the hump, there was no real choice but to sign him to a mega deal. Quarterbacks as good as Prescott don’t come around too often, and he played at an MVP level in 2023, completing 69.5 percent of his passes for 4,516 yards and 36 touchdowns with nine interceptions. He’s a three-time Pro Bowler who was named second-team All-Pro for the first time last season.

At training camp in mid August, Prescott reflected on a potential dip into free agency, Yahoo Sports: