The Cowboys and quarterback Dak Prescott got a deal done, just before the start of the regular season.
We’ve obtained the full and complete details of the four-year, $240 million extension.
The term come from a source with direct knowledge of the deal:
1. Signing bonus: $80 million.
2. 2024 base salary: $1.25 million, fully guaranteed.
3. 2025 base salary: $47.75 million, fully guaranteed.
4. 2026 base salary: $40 million, guaranteed for injury at signing and fully guaranteed on fifth day of 2025 league year.
5. 2027 base salary: $45 million, guaranteed for injury at signing and fully guaranteed on fifth day of 2026 league year.
6. 2028 base salary: $55 million, $17 million of which is guaranteed for injury at signing and fully guaranteed on fifth day of 2027 league year.
The deal includes a no-trade clause, a no-franchise tag clause, and a no-transition tag clause. It also has four void years, from 2029 through 2032.
The contract, which had one year left at $29 million, has $129 million fully guaranteed at signing. Another $40 million is fully guaranteed by March 2025. And another $45 million becomes fully guaranteed by March 2026.
The Cowboys could, in theory, cut the cord after two years, but they would owe him $40 million in 2026, less offset, after paying him $129 million for two seasons. And if Dak took a deal elsewhere for the league minimum in 2026, the Cowboys will end up paying him nearly $169 million for two years — and nearly $140 million for only one year beyond his current deal.
It’s more likely that the Cowboys will keep Dak at least through 2027, with a decision to be made in 2028, when his salary is $55 million with a full guarantee of $17 million.
The new-money average make Dak the first $60 million per year player in new-money average. He also received the largest signing bonus in league history, and the most guarantees ever, on a four- or five-year extension.
And the contract puts Dak in line for another extension in four years, at the latest. He’ll be due to hit the open market in March 2029, at the age of 36.
Which means he could still get another massive deal, at some point.
