Dak Prescott agrees $160m deal with the Cowboys, becomes highest-paid QB behind Mahomes

Dak Prescott and the Dallas Cowboys have finally agreed on terms for a new contract following a lengthy negotiation over the past season. The Cowboys had tagged the quarterback last year for $31.4 million but managed to agree on terms with the 27-year-old who signed a new four-year $160m million deal. Here's a look at the Dak Prescott contract details and what effect does it have on the Cowboys' cap space. 

Dak Prescott new deal: Cowboys, quarterback agree on four-year $160m deal 

According to Adam Schefter, the Dallas Cowboys and quarterback Dak Prescott have agreed to a four-year, $160 million contract, including $126 million guaranteed. The deal is technically for six years but voids to four so as to help Dallas against the salary cap, and can be worth up to $164 million. Prescott's signing bonus is $66 million, the highest in NFL history, with a record $75 million due in Year 1, Schefter reported. The first three years of the deal average $42 million per year, according to a source. 

Prescott had earlier made news for demanding a contract for wanting a deal in the range of Kansas City Chiefs quarterback Patrick Mahomes. During the contract talks last season, NFL Network reporter Jane Slater revealed that the Cowboys had offered the 27-year-old a package in the ballpark of Russell Wilson/Jared Goff-type money. Ultimately Cowboys played into Dak Prescott's demands, making him the second-highest-paid quarterback in the league in average salary. Mahomes tops the list earning a guaranteed $45 million from the Chiefs, while Prescott is second with $42 million promised by the Cowboys. Russell Wilson, Ben Roethlisberger and Aaron Rodgers make up the top five. 

Prescott's salary-cap number for this season will be $22.2 million instead of the $37.7 million that would have come along with the franchise tag, a savings of $15.5 million against this season's cap, Schefter reported. The Cowboys can now further strengthen their roster with more cap space and might pursue free agents more aggressively in the off-season. The new deal answers Dallas' looming uncertainty under the centre and disconnects the constantly churning rumour mill related to Prescott's contractual status that has been running since the 2019 offseason.

Dak Prescott meanwhile is likely to be available for the Cowboys before the start of the new NFL season after two successful surgeries. The first one happened after the 27-year-old suffered a compound fracture and dislocation of his right ankle in the game against the New York Giants. An undisclosed second surgery followed two months later to strengthen his deltoid ligament, clean out the ankle and make it more structurally sound. Prescott is walking without issue, doing weight-bearing exercises and is expected to be ready for action long before the 2021 season begins. 

(Image Courtesy: NFL.com)