(Nexstar) — When the Dallas Cowboys announced they had finally reached a long-term deal with star quarterback Dak Prescott, it ended 23 months of negotiations and nearly a year of speculation about Prescott’s future with the team.
Prescott’s average annual salary will be around $40 million, which makes him the second-highest paid quarterback in the NFL. He’ll also be making the most total guaranteed money in the league — ahead of Kansas City’s Patrick Mahomes.
No quarterback is touching Mahomes’ $450 million total deal from the Chiefs. Prescott’s $160 million will be the second most in the league, just ahead of Houston’s Deshaun Watson and Seattle’s Russell Wilson.
The Cowboys win in the deal by getting some long term security and the ability to spread the money out over the course of four seasons. It’s clear Dallas needs Prescott’s talent on the field. The Cowboys went 4-7 without him for most of the 2020 season.
For the first time in nearly a year, the team held an in-person news conference on Wednesday afternoon to talk about the deal.
Prescott, team owner Jerry Jones and others were on hand at The Star. Cowboys insider Mickey Spagnola was there as well and has this report.