Prescott, Cowboys reach contract agreement

NFL Dallas

Dallas Cowboys quarterback Dak Prescott (4) warms up before an NFL football game against the Atlanta Falcons in Arlington, Texas, Sunday, Sept. 20, 2020. (AP Photo/Michael Ainsworth)

(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.

Copyright 2021 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Trending Right Now

Don't Miss

Community Calendar

KETK Twitter & Facebook

FOX51 Twitter & Facebook