Dallas Cowboys quarterback Dak Prescott was willing to enter the 2019 season without a long-sought contract extension because of his massive annual haul from multiple endorsement deals, according to a report on Sunday.
Prescott, 26, has endorsement deals with several top companies, including Campbell’s Chunky Soup, 7-Eleven, New Era caps, Sleep Number beds, Pepsi, Citi, and Oikos. Aside from those deals – many of which are in place for years to come – Prescott has taken out loss-of-value and disability insurance policies that will compensate him in the event of a career-ending injury.
Taken together, Prescott’s endorsement deals and insurance policies are worth more than $50 million, ESPN reported, citing league sources familiar with the matter. By comparison, Prescott is set to earn a base salary of slightly more than $2 million during the 2019 season.
The Cowboys and Prescott’s representatives worked on a contract extension through the summer but have yet to reach terms on a new deal. ESPN reported Prescott “has not been in a rush” to get a new contract because of his off-the-field earnings.
Cowboys owner Jerry Jones told reporters on Sunday that a contract extension was “imminent” but didn’t provide details on potential financial terms. Based on his past performance and recent quarterback contracts, Prescott has a projected market value of roughly $31 million per year, according to Spotrac.
Prescott is said to be seeking up to $40 million annually, according to multiple reports.
The Cowboys have committed more than $185 million in guaranteed money to several star players this offseason, including running back Ezekiel Elliott, defensive lineman DeMarcus Lawrence and linebacker Jaylon Smith.
Prescott threw for 405 yards and four touchdowns during the Cowboys’ season-opening win over the New York Giants on Sunday.