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Cowboys sign QB Dak Prescott to long-term contract

As first reported by NFL Network’s Mike Garafolo, the Dallas Cowboys and quarterback Dak Prescott have agreed to a long-term contract.

ARLINGTON, TEXAS - DECEMBER 29: Dak Prescott #4 of the Dallas Cowboys reacts in the third quarter against the Washington Redskins in the game at AT&T Stadium on December 29, 2019 in Arlington, Texas. (Photo by (Tom Pennington/Getty Images)

(Tom Pennington/Getty Images)

(Tom Pennington/Getty Images)

The longest "will they, won't they" saga in the NFL came to an end Monday night, just before a significant deadline. As first reported by NFL Network's Mike Garafolo, the Dallas Cowboys and quarterback Dak Prescott have agreed to a long-term contract.

According to Adam Schefter it is a four-year contract worth up to $164 million, with $126 million guaranteed. With an AAV of $42 million over the first three seasons, Prescott surpasses fellow Texas QB Deshaun Watson as the second-highest paid quarterback in football, behind only Patrick Mahomes.

The timing of the teal is significant, with the agreement coming less than 24-hours before the NFL's franchise tag window closes. If no contract was agreed to by Tuesday's 4 p.m. deadline, the Cowboys were expected to use the franchise tag on Prescott for the second year in a row.

Prescott's rookie contract ended after the 2019 season, in which he had a breakout year throwing for over 300-yards per game. Yet no deal could be reached in the offseason, and Dallas franchise tagged him to extend the negotiations another year. After an MVP-like start to the 2020 season, Prescott suffered a gruesome ankle injury in Week 5 which shut him down for the year, and make this year's negotiations slightly more blurry.

With Prescott now locked up in Dallas, any team that was hoping to get a franchise QB through free agency will need to readjust their plans. The top names on the market now include Mitchell Trubisky, Alex Smith, Andy Dalton, and Jacoby Brissett.

MORE: Will the Patriots dip deeper in the Draft for their next QB?

Alex Barth is a writer and digital producer for 985TheSportsHub.com. Any opinions expressed do not necessarily reflect those of 98.5 The Sports Hub, Beasley Media Group, or any subsidiaries. Thoughts? Comments? Questions? Looking for a podcast guest? Let him know on Twitter @RealAlexBarth or via email at abarth@985TheSportsHub.com.

Alex Barth is a digital content producer and on-air host for 98.5 The Sports Hub. Barth grew up in the Boston area and began covering the New England Patriots, Boston Celtics, and Boston Red Sox in 2017 before joining the Hub in 2020. He now covers all things Boston Sports for 985TheSportsHub.com as well as appearing on air. Alex writes about all New England sports, as well as college football. You can follow him across all social media platforms at @RealAlexBarth.