The Dallas Cowboys and quarterback Dak Prescott have reached a landmark agreement on a four-year, $240 million contract extension, making Prescott the highest-paid player in NFL history. The new deal, which will keep Prescott in a Cowboys uniform through the 2028 season, includes $231 million in guaranteed money, surpassing the previous record of $230 million set by Deshaun Watson with the Cleveland Browns.


Prescott's contract averages $60 million annually, the highest ever in the NFL. This eclipses the $55 million annual averages of recent deals signed by Joe Burrow of the Cincinnati Bengals, Jordan Love of the Green Bay Packers, and Trevor Lawrence of the Jacksonville Jaguars. Additionally, Prescott's $80 million signing bonus sets a new record, topping Jordan Love's previous high of $75 million.


The Cowboys announced the extension on Sunday morning, just hours before their season opener against the Cleveland Browns. Negotiations had been ongoing over the weekend, and the timing of the deal was crucial for Dallas, ensuring they would not face a quarterback search through free agency, trade, or the draft in 2025.


The new deal also allows the Cowboys to avoid potential salary cap issues and secures Prescott and CeeDee Lamb, who also recently signed a major extension, through 2028. This agreement comes after Prescott was set to play the final year of his previous four-year, $160 million contract, signed in 2021. Despite some previous negotiation challenges, the Cowboys managed to finalize the deal before the season began, preventing Prescott from hitting the open market next winter.


Prescott, who has built a strong rapport with head coach Mike McCarthy, has led the Cowboys to the postseason in each of the past three seasons. He is currently the third-leading passer in Cowboys history, behind Tony Romo and Troy Aikman, and trails only Romo in career touchdown passes.


Despite his impressive stats and achievements, including leading the league with 36 touchdown passes last season, Prescott and the Cowboys have yet to advance beyond the divisional round of the playoffs during his tenure. The last time the Cowboys won a Super Bowl was in 1995, and they have not reached the NFC Championship Game since then.


Prescott is committed to living up to the legacy of Hall of Famers Roger Staubach and Troy Aikman while also contributing to the community through his Faith, Fight, Finish Foundation. He was honored with the Walter Payton Man of the Year award in 2022 for his charitable efforts.