Dak Prescott Signs Record-Breaking Extension with Dallas Cowboys

The Dallas Cowboys and their star quarterback, Dak Prescott, have reached a landmark agreement just before the commencement of the 2024 NFL season. Prescott was previously set to play the upcoming season on an expiring contract, but owner Jerry Jones managed to secure the quarterback’s future with the team, ensuring his tenure in Dallas will extend through his age-35 season in 2028.

As reported by USA TODAY, a decisive conversation between Jones and Prescott sealed the deal. Jones approached Prescott before practice with the intention to finalize the contract. “He said, ‘Let’s surprise the world,'” Prescott recounted, highlighting the confidence inspired by the Cowboys’ commitment to their quarterback.

Jones expressed deep satisfaction with the agreement, articulating his hope that Prescott remains the team’s quarterback for as long as he owns the franchise. To demonstrate this commitment, Prescott was signed to a contract extension that sets new records within the NFL.

According to information from USA TODAY, Prescott’s extension modifies the final year of his four-year, $160 million contract, securing him with the Cowboys through 2028. His new deal includes a notable annual salary cap hit of at least $62 million, situating him among the NFL’s highest-paid players. Prescott becomes the first NFL player to achieve a $60 million average annual value (AAV), surpassing other leading earners in the league.

The extension also guarantees Prescott more money than any player in NFL history, edging out previous record-holder Deshaun Watson of the Cleveland Browns. However, unlike Watson’s fully guaranteed contract, Prescott’s is 96.25% guaranteed.

While Prescott’s contract ranks eighth in total value, it highlights a broader trend in the NFL where quarterbacks dominate the financial charts. Kansas City‘s Patrick Mahomes holds the contract with the highest total value at $450 million; although he restructured his deal, making $208.1 million guaranteed over the 2023-2026 seasons, it will be revisited after the 2026 term. Additionally, Mahomes’ actual AAV is expected to eventually surpass its current official figure of $45 million.

In contrast to quarterbacks, the highest-paid non-quarterback in terms of AAV is Los Angeles Rams‘ Aaron Donald at $35 million. Meanwhile, Tyreek Hill of the Miami Dolphins holds the most lucrative overall contract among non-quarterbacks, valued at $170 million.