On Monday, after years of deliberation, a franchise tag, an injury and unending headlines, the Dallas Cowboys finally paid QB Dak Prescott. The deal set new marks with the most-ever guaranteed money and the largest signing bonus in NFL history.
Just just in from the Dallas Cowboys:— Mickey Spagnola (@Spags52) March 8, 2021
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 deal can be worth up to $164 million, per source.— Adam Schefter (@AdamSchefter) March 8, 2021
The deal includes $66 million to sign and $75 million in year one, the most in NFL history. https://t.co/bt7uBY2v7w
With such an incredible sum of money, it brings into question will—or how—this deal impacts a Lamar Jackson extension with the Baltimore Ravens?
As it stands, Prescott’s deal is the second-largest in NFL history by average annual value (AAV), at $40 million. This usurped the Deshaun Watson contract extension with the Houston Texans ($39 million AAV). The only deal larger is the record-shattering contract between the Kansas City Chiefs and QB Patrick Mahomes II (10 years, $450 million; $45 million AAV).
Likely, Lamar Jackson’s camp will expect to take the throne of the second-largest contract in NFL history. They also have a new benchmark for most guaranteed money and largest signing bonus.
With Jackson being a dual threat quarterback, I expect Jackson’s camp to pursue the latter, more than the former. They may opt for less overall money if they can instead fully guarantee more money. Rather than secure the second-largest deal and attempt to inch closer to Mahomes’ deal, securing $100 million fully guaranteed is a larger win for the player.
Overall, there’s no chance Dak Prescott’s deal doesn’t impact the discussions between Baltimore and Jackson’s camp. The new benchmarks were set and with Jackson boasting a league MVP trophy, expect him to clear these new marks when his deal does finally land.