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Cowboys, QB Prescott finally agree on $160 million contract

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Ron Jenkins/AP
FILE - Dallas Cowboys quarterback Dak Prescott (4) runs the ball during an NFL preseason football game against the Miami Dolphins on Friday, Aug. 19, 2016, in Arlington, Texas. The Cowboys and Prescott have finally agreed on a contract two years after negotiations began with the star quarterback. The agreement was reached Monday, March 8, 2021, with further details to be announced. (AP Photo/Ron Jenkins)
Dak Prescott
Posted at 9:32 AM, Mar 09, 2021
and last updated 2021-03-09 12:32:43-05

The Dallas Cowboys and Dak Prescott have finally agreed on the richest contract in club history, two years after negotiations began with the star quarterback.

A person with knowledge of the deal tells The Associated Press it is a $160 million, four-year contract with a record $66 million signing bonus.

The Associated Press reported that Prescott is guaranteed $126 million of his $160 million.

The deal, which was reached Monday, comes a day before a deadline to put the franchise tag on Prescott for a second straight year at a salary-cap charge of $37.7 million.

Prescott is second in the NFL in an annual salary of $40 million. Kansas City’s Patrick Mahomes is first by earning $45 million annually.

Prescott's 2020 season was cut short in Week 5 by a compound fracture of his right ankle.

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