Yesterday, Dak Prescott proved to the world that the house can take a major “L” when you play your cards right.
After basically two years contentious contract discussions, the Dallas Cowboys finally offered Dak Prescott a new contract and NFL media exploded.
Yes, that’s correct. Dak Prescott received a four-year, $160 million deal, which the first three years averaging $42 million per year. The deal points of this contract are mind-numbing.
An NFL record-setting $126 million of the deal is guaranteed, which is the 2nd most in NFL history.
$66 million of the deal is reflected as a signing bonus, which is the highest in NFL history. That puts him $1 million ahead of Russell Wilson’s signing bonus
They also agreed to a no-trade clause and, most interestingly, a no-tag clause. They actually placed the franchise tag on him just to establish the deal, and now it can never be used on him again.
In addition, according to Adam Schefter, “The deal includes $66 million to sign and $75 million in year one, the most in NFL history.”
Overall, this is the second highest contract in NFL history, trailing only that of the Chiefs’ Patrick Mahomes. And he would become a free agent at only age 31, so he would still be in prime position for another lucrative contract at that time.
This was a long, exhaustive process for all parties involved, but none more so than Dak Prescott himself. The two-time Pro Bowler played under a franchise tag last year, earning a guaranteed $31.4 million. But then he suffered that horrible ankle injury in week 5, and while everyone felt for him, the questions arose.
After a season-ending injury, would the Cowboys pay him? Would they treat him like the franchise player that he was? Would he finally get his or did he play himself by not signing a long term deal?
Yesterday afternoon, that question was answered. But it was a drawn-out answer that started with a bet Dak placed on himself. Remember, before the franchise tag was used, the contract discussions were hovering around a rumored annual salary in the mid-$30 million range. At that point, Dak and his agent, Todd France, doubled down and bet against the house. It was like an old-fashioned gunfight, with the first to draw having the best shot.
Dak and France drew first by walking away from the table.
They knew his worth, understood the risks and were willing to gamble with his future.
In his first four years, Dak proved his worth. He was a fourth-round pick who rose to become the team’s starting quarterback and leader. In his rookie year in 2016, he threw for 3,667 yards with 23 TDs and 4 INTs en route to his first Pro Bowl appearance and Offensive Rookie of the Year Award. The next year he threw for 3,324 yards with 22 TDs and 13 INTs. In 2018, his second Pro Bowl year, he went for 3,885 yards, 22 TDs and 8 INTs. 2019 was even better as his totals rose to 4,902, 30, and 11, respectively. In his fifth season, he threw for 1,856 yards with 9 TDs and 4 INTs before suffering that gruesome season-ending injury against the Giants in the team’s fifth game.
Overall, the team has gone 42-27 with Dak under center. With proven stats like these, it was a gamble worth taking.
Now to be fair, Dallas was able to secure a little shine with the deal. They saved $15.5 million in cap space this season as his salary goes to $22.2 million instead of the $37.7 million that it would have been under another franchise tag. In addition, the deal is actually a six-year deal that voids to four in an effort to help Dallas with cap relief. Lastly, the Cowboys are able to save some face by signing Dak to this deal. The PR crisis disappears, they lock up their star quarterback for the next four years and they secure cap relief at a time when the overall cap is expected to shrink this season.
But the story is really about Dak. He bet on himself and challenged the system to blink first.
They blinked, hard, and now Dak is smiling all the way to the bank.
