Jerry Jones on Cowboys making Dak Prescott the first $60 million quarterback: ‘Our best chance’ at Super Bowl

CLEVELAND – Jerry Jones addressed Dak Prescott before the Dallas Cowboys’ practice on Saturday.

“Now,” the team owner said to his quarterback. “Let’s go. Now. Before kickoff.”

The duo shook hands, Jones says, and then the final reservations of a historic negotiation followed.

Not only is Prescott once again the highest-paid player in NFL history, he also crossed that threshold by a wide margin when the Cowboys and Prescott’s agent Todd France agreed to a four-year extension worth $240 million, of which $231 million is guaranteed, France posted on Instagram

Prescott’s average annual salary of $60 million – a figure Jones confirmed in the tunnel before the Cowboys’ game against the Cleveland Browns on Sunday afternoon – exceeds that of the three previous record holders by a full $5 million per year.

With his $231 million guaranteed, not only does his guaranteed performance percentage rise from 90% in his last contract to 95.8% in this one—it also breaks the previous guarantee record of $230 million, a figure owned by the quarterback Prescott will face on signing day: Deshaun Watson.

Stephen Jones, the Cowboys’ executive vice president who is currently leading most of the team’s negotiations, said it has long been the Cowboys’ goal to sign Prescott after receiver CeeDee Lamb.

Did the $60 million figure scare you?

“You always want less,” Stephen Jones told Yahoo Sports. “But at the end of the day, that was the number we needed, and we want Dak to lead this football team.”

“It’s good to put it behind us.”

Prescott couldn’t help but smile broadly in the tunnel before kickoff on Sunday.

Jerry Jones said both parties are pleased to retain the quarterback, who the team owner hopes will lead the Cowboys for the rest of his life.

“This is a big commitment for the next five years (and) for our future, if you will,” said Jerry Jones, who turns 82 next month. “I hope Dak is our quarterback for the rest of my time. And that’s not just limited to the terms of this contract. I have a lot of confidence in him.”

“And Dak is committed to us, which I think is very special.”

Prescott’s determination was to agree to a contract extension with the Cowboys now rather than test the open market after this season. He had a tremendous advantage, both as the 2023 touchdown leader and runner-up MVP at a time when demand for NFL quarterbacks far exceeds supply, and in the knowledge that no succession plan was in sight at the Cowboys.

Prescott’s contract extension through 2020 has made it virtually impossible for the Cowboys to franchise tag him in 2024. The fear of losing Prescott seemed to grow as the hours ticked away on his final year of contract.

Jones acknowledged criticism from his fans who are not convinced that he gives the Cowboys every chance of winning.

“You may not agree with the decision, but anything less than a commitment is just not the case for me,” Jones said. “Making him the highest-paid player in NFL history — I’m doing that for the fans.”

Jones said the deal was held up not because of belief in Prescott, but because of financial negotiations that would allow Dallas to build a team around him. Last week, the Cowboys gave receiver CeeDee Lamb a $34 million-per-year contract extension, making him the second-highest compensation among non-quarterbacks in NFL history.

Edge rusher Micah Parsons could be next in 2025.

“I think it has an impact,” Jones said. “Every player you sign is going to have an impact. The real question is the rest of the story, and that is: How do things play out? Where are we going to be when that time comes?”

“You have to have a plan, and believe me, I think ahead – I always have when it comes to cowboys.”

Jones is not only thinking about next season. He is also thinking about how the 2024 season could go for the Cowboys. Signing Prescott is about getting into the playoffs, Jones said.

“We’ve built the structure of the team to give us a chance to compete for a championship,” Jones said. “We’ll be able to get players around him that will give us a chance to compete for a Super Bowl.

“He was our best chance to get one.”