Cowboys announce new contract with Dak Prescott

The Cowboys announced they have agreed to terms on a new contract with quarterback Dak Prescott on Monday.

The team said it will announce further information and details at a formal press announcement Wednesday.

The Cowboys had hoped to complete a deal with Prescott before the deadline for using a second franchise tag on their franchise quarterback, and word came last week that the sides were “progressing” on a deal.

Placing the franchise tag on Prescott would have resulted in a $37.7 million cap hit for the Cowboys.

The sides couldn’t agree on length of contract a year ago, with Prescott wanting four years and the Cowboys five. He played 2020 under the $31.4 million franchise tag.

Prescott was leading the league in passing yards with 1,856 before the compound fracture and dislocation of his right ankle in Week 5 against the Giants. He underwent immediate surgery and a second surgery in December.

The team expects him to be healed in time for training camp.