(KETK) – Maybe not quite the 11th hour.
But with less than 24 hours before the NFL’s franchise tag deadline, Dak Prescott and the Dallas Cowboys reached an agreement on a new multi-year contract Monday.
The terms of the contract were not immediately released. A formal announcement is set for Wednesday.
However, multiple media outlets report that the Cowboys quarterback will sign a 4-year, $160 million contract, that over the next three seasons will pay him an amount of money comparable to what East Texan Patrick Mahomes will make during a three-year span of his record mega-deal.
The deal reportedly includes a $66 million signing bonus, the highest in NFL history.
But since he will sign a long term contract, the Cowboys will save about $15.5 million against the salary cap, had they had to pay him the tag’s worth of $37.7 million in 2021.
Prescott played under the exclusive tag last season and earned $31.4 million.
Many around the NFL, including current and former teammates expressed their excitement for Prescott.
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