Cowboys QB Dak Prescott Becomes Highest Paid Player in the NFL

Last updated on September 28th, 2024 at 03:02 pm

The Dallas Cowboys were going into the 2024 NFL season with their quarterback playing in the last year of his contract. However, the team signed QB Dak Prescott to a long-term extension on the eve of their season opener against the Cleveland Browns.

According to Prescott, Jerry Jones approached Prescott before practice and expressed his desire to finalize the transaction. Jones, who is 81 years old, was overjoyed that a deal had been finalized and thanked the club for ensuring Prescott’s long-term commitment.

Jones did not mince words to prove his devotion to the 31-year-old quarterback and offered Prescott a record-breaking deal. Everything you need to know about Prescott’s agreement to understand where it ranks him among the highest-paid players in the NFL is here.

Contract Details of QB Dak Prescott

Prescott inked a groundbreaking contract extension with the Cowboys just before the start of the NFL season. The contract details were:

Term: 4 years
Total Annual Value: $240 Million
Guaranteed Money: $231 Million
Average Annual Value: $60 Million

According to online bookie software experts, Prescott inked a four-year, $160 million agreement with the Cowboys before free agency in 2021, and this deal was added to the last year of that pact. Thus, Prescott is committed to the Cowboys until his age-35 season in 2028.

Prescott will be subject to a yearly cap hit of at least $62 million as part of his agreement. Dallas may try to lower the deal’s price tag by renegotiating his contract by adding vacant years, an accounting technique commonly used by NFL teams to postpone salary cap penalties until later years. According to owner Jerry Jones, the experienced quarterback is Dallas’ greatest hope for a Super Bowl victory so that Prescott will stay a Cowboy for the foreseeable future.

After re-signing with the Cowboys, Prescott’s AAV passed all other NFL players and became the league’s highest. Due to the variable contract durations in the NFL, average annual salary (AAV) is the most used statistic for comparing players’ worth. Following in the footsteps of Joe Burrow, Trevor Lawrence, and Jordan Love—the prior three AAV leaders—by $5 million—Prescott is now formally the first NFL player to earn $60 million.

Highest-Paid NFL Players

Prescott also got the most guaranteed money ever given to an NFL player as part of his contract. By one million dollars, he surpassed Deshaun Watson, quarterback for the Cleveland Browns, who had previously held the record. In contrast to Prescott’s 96.25% guaranteed contract, Watson’s contract was guaranteed. That’s the sole distinction between the two agreements.

Meanwhile, Prescott’s deal value is sixth in the NFL. Thanks to the 10-year, $450 million deal he inked with Kansas City in 2020, Chiefs quarterback Patrick Mahomes is now the top in that category. Additionally, six additional players, all of whom play quarterback, have the potential to earn $255 million or more across the course of their contracts.

According to pay per head review and news sites, the top ten highest-paid NFL players are all quarterbacks, no matter what statistic you choose. The top players in the 2024 NFL season in terms of average annual salary (AAV), total contract value (TCV), and guarantees are shown below.