Report: Dak Prescott, Dallas Cowboys agree on 4-year, $240M contract extension

The Dallas Cowboys and quarterback Dak Prescott have reached a contract extension for four years and $240 million, per Adam Schefter. That contract extension makes Prescott the highest paid player in NFL history.

This is the culmination of months of contract negotiations between Prescott and the Cowboys and it means that Dallas goes into the 2024 season without concerns about the quarterback position moving forward.

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The timing of this deal was also unique, coming just hours before the regular season starts for Dallas. The Cowboys are set to take on the Cleveland Browns today.

Prescott’s contract has an average annual value of $60 million. That surpasses both Trevor Lawrence and Joe Burrow who have an AAV of $55 million at the quarterback position. Thanks to the new contract, the market has been reset for quarterbacks in the NFL.

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Dak Prescott has spent his entire career to this point with the Dallas Cowboys after being selected in the fourth round of the 2016 NFL Draft out of Mississippi State. Immediately, he made his impact felt, and won the NFL Offensive Rookie of the Year Award in 2016. Since then, Prescott has been a three-team Pro Bowl selection and the Walter Payton NFL Man of the Year.

Over the course of his eight NFL seasons, Prescott has played in 114 games and has a 67 percent completion percentage, 29,459 passing yards, and 202 touchdowns. That includes leading the NFL in passing touchdowns in 2023 with 36.

Dak Prescott was one of two major contracts that the Dallas Cowboys were focused on handling this season. The other was for his star receiver, CeeDee Lamb. Those two sides agreed to an extension in late August for four years and $136 million.

With that, the Dallas Cowboys have the core of their offense solidified for the next few seasons and the team doesn’t need to worry about replacing either player in free agency.