Dak Prescott's Current Contract and Earnings
Dak Prescott signed a four-year, $240 million contract extension with the Dallas Cowboys in September 2024, making him the highest paid quarterback in the NFL by average annual value at $60 million per year. The deal includes $231 million in guaranteed money, the largest guarantee ever for a quarterback at the time of signing. This contract solidified his position at the top of the quarterback pay scale, surpassing previous deals held by Joe Burrow and Jalen Hurts. The agreement was reported by ESPN and covers the 2025 through 2028 seasons, with a $5 million signing bonus and a full no-trade clause. Prescott's new deal reflects his status as the Cowboys' franchise quarterback and his performance in leading the team to consistent playoff appearances.
Before the extension, Prescott earned $40 million in base salary during the 2024 season, which already placed him among the top earners at the position. The extension added significant future guaranteed money and increased his cap hit for the Cowboys in subsequent years. As of the latest NFL salary data, Prescott's average annual value of $60 million ranks first among all quarterbacks. The contract structure includes escalators and incentives that could push total earnings higher if he meets performance benchmarks. This financial commitment by the Cowboys underscores the premium the NFL places on elite quarterback play and Prescott's role as a franchise cornerstone.
How Dak Prescott Compares to Other Top Quarterbacks
Joe Burrow signed a five-year, $275 million extension with the Cincinnati Bengals in 2023, with $160 million guaranteed and an average annual value of $55 million. Jalen Hurts signed a five-year, $255 million extension with the Philadelphia Eagles in 2024, featuring $179 million guaranteed and an average annual value of $51 million. Both contracts were record-setting at the time of signing but were later surpassed by Prescott's deal in average annual value and total guaranteed money. Deshaun Watson's contract with the Cleveland Browns includes $230 million guaranteed but carries a lower average annual value due to its longer term and restructuring. When looking at total contract value, Burrow's deal remains the largest, but Prescott leads in annual compensation and guaranteed money relative to the term length.
The quarterback position commands the highest salaries in the NFL due to its impact on team success and revenue generation. Prescott's contract reflects the market value set by recent elite quarterback deals and the Cowboys' willingness to pay a premium to retain their franchise player. The salary cap implications are significant, with Prescott's cap number projected to exceed $50 million in future seasons, forcing the Cowboys to make difficult roster decisions. Other top quarterbacks like Josh Allen and Justin Herbert have also signed extensions that push the pay scale higher, but Prescott's combination of guaranteed money and average annual value currently places him at the top. This competitive bidding among teams for elite quarterback talent continues to drive the highest paid player contracts in professional sports.
Breaking Down the Financial Details
Guaranteed Money and Signing Bonus
The $231 million in fully guaranteed money in Prescott's contract is the largest guarantee ever for a quarterback, surpassing Joe Burrow's $160 million and Jalen Hurts' $179 million. The $5 million signing bonus was paid upfront, providing immediate cash flow and securing Prescott's financial future. This level of guarantee protects Prescott against injury or performance decline, a standard feature in modern quarterback contracts. The Cowboys structured the deal to manage cap space while ensuring Prescott remains the highest paid player on their roster. This financial commitment signals the team's long-term confidence in Prescott as the starter and face of the franchise.
Cap Hits and Future Salary Projections
Prescott's cap hit for the 202