Dak Prescott agrees to record contract extension with Cowboys

Aug 26, 2017; Arlington, TX, USA; Dallas Cowboys quarterback Dak Prescott (4) smiles while on the field before the game against the Oakland Raiders at AT&T Stadium. Mandatory Credit: Tim Heitman-USA TODAY Sports

Dak Prescott will not have to play out the 2024 season without a new contract, after all.

Prescott and the Dallas Cowboys on Sunday agreed to a 4-year, $240 million extension, according to multiple reports. The $60 million average annual salary is the highest for any player in NFL history. Prescott also got a whopping $231 million guaranteed, which surpasses the $230 million fully guaranteed extension Deshaun Watson signed with the Cleveland Browns prior to the 2022 season.

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The #Cowboys and QB Dak Prescott have a deal! He gets a 4-year deal worth a record $240M(!) with $231M guaranteed, per me and @TomPelissero.

Owner Jerry Jones and agent Todd France and his team from @AthletesFirst closed it out. The NFL’s biggest question answered. pic.twitter.com/mfs7Ao16Wa

— Ian Rapoport (@RapSheet) September 8, 2024

The Cowboys recently signed star wide receiver CeeDee Lamb to a massive extension as well, so they now have their star quarterback-wide receiver duo under contract for several more seasons.

Prescott was never going to accept a deal that did not make him the highest-paid quarterback in the NFL. He was in a position of strength after having an outstanding season last year with 4,516 yards, 36 touchdowns and 9 interceptions. Though, the Cowboys came up short in the postseason again, which led to some speculation that Jerry Jones might want Prescott to play out his deal.

Jones recently seemed to change his tune when asked about contract negotiations with Prescott. Many took that as a sign that a deal was imminent, which turned out to be the case.

The Cowboys begin their season on the road against the Cleveland Browns on Sunday.