Jerry Jones and the Dallas Cowboys entered this offseason with lingering questions concerning Dak Prescott’s future. The two sides struggled to work out any long-term deal to keep him in Dallas for the next several years. However, Prescott has finally gotten what he’s wanted from the Cowboys while making Jones pay dearly for his massive mistake.
Dak Prescott’s contract situation with Cowboys
Dating back to the 2019 season, Jerry Jones and the Dallas Cowboys have held contract extension talks with Dak Prescott.
These conversations never progressed enough to work hammering out a deal. It was believed that the two sides would agree to an extension last offseason before the franchise tag deadline, but that never came about.
Instead, Prescott played out the 2020 campaign without a new contract, leaving much uncertainty around his future in Dallas. All of those concerns can finally be put to bed as Jerry Jones dished out a historic deal to his star quarterback.
Jerry Jones commits to a historic contract to keep Dak Prescott
Since Super Bowl 55, there has remained an undercurrent around the contract discussion between Dak Prescott and the Cowboys.
A sense of uncertainty stuck around due to the two sides’ inability to work out a lucrative extension last offseason. However, all that can finally be put to rest as Jerry Jones and the Cowboys have shelled out a historic contract with Prescott with a four-year, $160 million deal.
ESPN‘s Adam Schefter reports that it can be worth up to $164 million if incentives are reached. Meanwhile, the deal includes an NFL record $126 million guaranteed, a no-trade clause, and the team can’t place the franchise tag on him after completing the contract. His $75 million payout for the first year of the deal is also a league record.
Over the first three years of the deal, he will hold an average salary of around $42 million. It’s the type of money Prescott eyed throughout the process that the Cowboys finally caved into before the franchise tag deadline.
The Cowboys may have paid more than they wanted to, especially to a quarterback coming off a significant ankle injury. However, it was a situation created through their doing as the price tag was lower last year before Patrick Mahomes and Deshaun Watson’s historic extensions.
Instead, the Cowboys will have to fork over a larger deal that will make him the second-highest paid player in league history.
Cowboys are paying more than millions of dollars for their mistake
The Cowboys can finally move forward this offseason without any lingering questions concerning Dak Prescott’s long-term future.
However, it’s a situation that lingered longer than it should have due to Jerry Jones and the Cowboys’ hesitance to commit to Prescott. Dallas’ doubt wound up costing Jones more in his pocketbook. Meanwhile, the 27-year-old got what he wanted from the franchise: to be paid like an elite quarterback.
Yes, the pressure is now on Prescott to live up to those expectations, but it’s the contract he forced Jones and the Cowboys to commit fully. Keep in mind; the team last offseason elected against paying Prescott near $40 million in annual salary and $110 million guaranteed.
Things took a more favorable turn for him this time around as his contract situation put the Cowboys in a more challenging position. Dallas wanted to avoid putting a third straight franchise tag on Prescott valued around $50 million for the 2022 season.
There was no way that Jones would be comfortable going the route of paying his quarterback anywhere near that amount. Prescott would also likely draw several suitors in free agency next year, significantly driving up the price tag.
All that made it more reasonable in their minds to agree to the numbers that Prescott wanted all along. It took much longer than he wanted, but the Pro Bowler made Jones and the Cowboys pay in more ways than just money.