Cowboys, Prescott reach historic 4-year, $240M extension

The Dallas Cowboys and Dak Prescott agreed to a four-year, $240-million extension that will make the quarterback the highest-paid player in NFL history, team owner Jerry Jones confirmed Sunday, according to Jori Epstein of Yahoo Sports.

"The figure is right. What it means is a big commitment to the next five years," Jones said. "I hope Dak is our quarterback for the rest of my time."

Prescott's $60-million average annual salary is the highest ever, more than $5 million higher than Joe Burrow, Trevor Lawrence, and Jordan Love, who all earn $55 million per season.

The extension also contains a record-breaking $231 million in guaranteed money, beating Deshaun Watson's deal, which contained $230 million guaranteed.

"I know that these numbers are beyond anything that I could have ever imagined," Jones said of the guaranteed money, according to ESPN's Todd Archer.

Prescott's mammoth extension comes just hours before the Cowboys' Week 1 game against the Cleveland Browns. The front office was reportedly pushing to get an extension done prior to Sunday's contest.

The signal-caller's contract status dominated headlines during the Cowboys' offseason, as he was scheduled to enter the final year of his previous four-year, $160-million deal. Prescott's deal also contained a no-trade and no-tag clause, which would have positioned him to leave as a free agent in 2025.

The 31-year-old said in August that his contract status at the season opener would say a lot about how the franchise views him.

The Cowboys now have the NFL's highest-paid quarterback and second-highest paid wide receiver in average annual value with CeeDee Lamb earning $34 million per season. Dallas inked Lamb to a four-year, $136-million extension in August.

Prescott put up 4,516 yards through the air and led the NFL in passing touchdowns last season with 36. He led the Cowboys to a 12-5 record and division title, though they were one-and-done in the postseason after a 48-32 loss to the Green Bay Packers in the wild-card round.

The Mississippi State product has been the Cowboys' starting quarterback since his 2016 rookie season. He's compiled a 73-41 record with 29,459 yards, 202 touchdowns, and 74 interceptions. However, that hasn't translated to postseason success with Prescott owning a 2-5 record in the playoffs.