DALLAS (105.3 The Fan) - The Dallas Cowboys have announced that they have agreed to a contract extension with franchise quarterback Dak Prescott.
"The Dallas Cowboys agreed to terms on a new contract with quarterback Dak Prescott on Monday. Further information and details will be released at a formal press announcement on Wednesday," the team said in a statement.
According to ESPN's Adam Schefter, Prescott will receive a four-year deal worth up to $164 million. The contract calls for Prescott to earn a record $126 million guaranteed. He'll receive a $66 million signing bonus and $75 million in the first year of the contract.
Additionally, the contract includes a no-trade clause and a no-tag clause, per Schefter. Dallas will place the franchise tag on Prescott Tuesday "as a procedural matter."
The Cowboys and Prescott's agent Todd France have been negotiating a contract on and off for the last three years. Prescott played last season on the franchise tag after Cowboys VP Stephen Jones and France disagreed on the length of a contract - the Cowboys wanted a five-year deal, while France preferred a four-year deal.
Throughout the season, the Joneses praised Prescott left and right, and claimed that he was their quarterback of the future.
"I don't know how you can have any more leverage. ... His evolving into a quarterback has been nothing short of a perfect picture. He has great ability in my mind to win games. He has all the things. You would not be offering Dak what we offered in the past if he wasn't very special," Jerry Jones said.
As for Stephen Jones, he told 105.3 The Fan that Prescott's contract extension was "at the top" of the team's offseason to-do list, and added that Prescott was their "future" despite his ankle injury.
The Cowboys had until March 9 to place the franchise tag on Prescott for the second consecutive year. Had Prescott played under the tag, he would have earned $37.7 million
As for Prescott's health, Fish reported recently that the quarterback 'should be a full participant in offseason work,' as he continues to rehabilitate his injured ankle, which took two surgeries to fully repair.
And all of that rehab is taking place at the team's headquarters in Frisco, as Slater reports that Prescott has been rehabbing at The Star 'nearly every day.'