Dak Prescott is not just getting paid thanks to his new contract with the Dallas Cowboys, but he is receiving a good portion of that money now. One of the most surprising parts of Prescott’s new contract is the staggering amount of money that Prescott will receive in 2021.
Prescott will make $75 million in 2021 in large part thanks to a $66 million signing bonus, per NFL Network’s Ian Rapoport. It is the largest signing bonus in NFL history topping other quarterbacks such as Patrick Mahomes and Russell Wilson. The good news for the Cowboys is a large portion of this $75 million will not count against the salary cap this season.
Overall, Prescott signed a four-year, $160 million contract with the Cowboys which includes $126 million guaranteed. According to Bleacher Report, this equates to $40 million annually, $2.5 million per game, $41,667 per minute and $694 per second.
Prescott is being rewarded, but the long-term extension also helps the Cowboys’ salary cap situation. Instead of counting $37.7 million on a second straight franchise tag, the Cowboys quarterback’s cap hit is $22 million for 2021, per ESPN’s Todd Archer, which will allow the team to potentially build a better roster around him next season.
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Prescott Wants to Retire as a Member of the Cowboys
Even before the new contract extension, Prescott made it clear that he wants to retire as a member of the Cowboys. There were times over the last two years that this looked less and less likely, but this new deal puts him one step closer to making that a reality.
“I grew up wanting to be a Dallas Cowboy and I am, and I’ve got dreams of being a Dallas Cowboy until I’m done throwing the football,” Prescott said in August 2020, via Sporting News. “None of that’s going to change just because we couldn’t reach an agreement there for this season. But as I said, I’m a Cowboy right now and that’s all that matters and that’s my whole focus.”
Prescott Is on Pace to Be the Highest-Earning Player in NFL History
Prescott is earning a significant amount of money this year and is also on a historic trajectory for his career. Yahoo Sports’ Charles Robinson reported Prescott is on pace to be the highest-earning player in NFL history.
“Wild part of this deal? If all goes as planned, Cowboys and Prescott will be back at the negotiating table for his next extension in 3 years, when TV/gambling money kicks in,” Robinson detailed on Twitter. “That means this deal may have put Prescott on course to be the highest earning player in NFL history.”
Mahomes signed a massive 10-year, $450 million deal last offseason, but Prescott preferred a shorter contract. It was one of the points of contention as the Cowboys wanted the quarterback to ink a five-year contract. Dallas eventually caved and gave Prescott a four-year deal. Prescott is keeping pace with Mahomes and will be able to take advantage of the rising television contracts on his next deal.
“The cash flow for Cowboys Prescott inside 15 months dating back to his last tag is a wild $106 million,” Robinson tweeted. “He will also have a three year cash flow that will be $29.1 million more than than the first three years of the Mahomes’ extension.”
Dak’s Prescott’s Contract Details
Here are the full details of Prescott’s four-year, $160 million contract, per Spotrac. The Cowboys will have a cap hit of $13.2 million in 2025 as part of stretching out Prescott’s signing bonus despite the deal expiring in 2024.
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