Dallas Cowboys quarterback Dak Prescott signed one of the largest deals for an NFL player ever in 2021. Terms of that deal have helped Prescott be one of the highest-paid NFL players. Add in several key endorsement deals, including one that’s new in 2022, and Prescott may make more off the field than he does taking snaps for the Cowboys this 2022 season.
What Happened: Prescott signed a $160 million four-year deal in 2021. The deal included a signing bonus of $66 million, the largest NFL signing bonus ever at the time.
For the 2022 season, Prescott will get paid a base salary of $1.6 million. The low figure comes as the quarterback restructured his deal to help the Cowboys with salary cap relief. With the base salary, a signing bonus of $13.2 million (broken down by year) and $4.93 million in restructured salary, Prescott is set to make around $20 million in 2022, according to Spotrac.
While the base salary seems low, it comes as the NFL Pro Bowler got his signing bonus up front and received a guarantee on the 2021 and 2022 salary amounts, prior to the restructuring of his contract, good for around $95 million. The quarterback will see his base salary jump to $13.2 million in 2023.
Prescott is also one of the highest earners outside of football, thanks to many lucrative endorsements.
Prescott in Strong Demand: Known as “America’s Team," the Cowboys have been one of the most popular teams around the country, which has made Prescott a valuable target for companies.
Prescott signed a deal with Blockchain, a cryptocurrency company recently. The deal makes Prescott the first-ever brand ambassador for Blockchain and an official crypto spokesman for the company.
“The world needs change. Crypto offers a path to financial freedom and stands to transform our relationship with money,” Prescott said as part of the announcement. “I’m honored to help generate awareness alongside Blockchain.com as they work towards building the future of finance.”
The deal will see Prescott featured in television, radio, social media and digital ads for the company. Prescott will also be part of educational content for crypto awareness put out by the company.
Blockchain signed a deal in 2022 to be a partner for the Cowboys. The deal was the first sponsorship deal with a cryptocurrency exchange ever signed by an NFL team, which comes with the approval of teams to seek sponsorships in the crypto sector.
Terms of the deal with Blockchain were not disclosed, but it adds to the annual endorsement money Prescott makes, which is estimated to be more than $10 million annually.
In 2021, Prescott made the switch from Adidas AG - ADR ADDYY to Jordan Brand, a shoe and apparel brand owned by Nike Inc NKE. Prescott signed a five-year deal with Jordan Brand and is said to be the highest-paid NFL athlete on the company’s roster. The deal could see a signature shoe released and Prescott as one of the key faces of the brand, which has been more recognizable in the NBA than the NFL.
Outside of Blockchain and Jordan Brand, Prescott also has endorsements with Anheuser-Busch InBev SA BUD, Apple Inc AAPL-owned Beats by Dre, Campbell Soup Company CPB, New Era, Oikos, PepsiCo, Inc. PEP, Sleep Number Corp SNBR, 7/11 and DirecTV, a unit of AT&T Inc. T.
Along with endorsements, Prescott is also an investor in smart fitness company OxeFit and sports restaurant company Walk-On’s.
In 2021, Prescott was named as the highest-earning NFL player and fourth-highest-earning athlete by Forbes.
When factoring in the numerous endorsements Prescott has and the money he made as a signing bonus, the Dallas Cowboys quarterback is sure to make more off the field than on it.
Photo: Jamie Lamor Thompson via Shutterstock
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