By CBSDFW.com Staff

FRISCO, Texas (CBSDFW.COM) – The Dallas Cowboys agreed to terms on a new contract with quarterback Dak Prescott on Monday, March 8.

The team said further information and details will be released at a formal press announcement on Wednesday.

Multiple sports media sources are reporting it’s a four-year-deal worth up to $164 million with a guarantee of $126 million.

It includes an NFL record $66 million signing bonus

Former Dallas quarterback Tony Romo made $125 total during his 14-year Cowboys career.

Prescott’s brother, Tad tweeted a photo of the two embracing after the life-changing moment for the Cowboys quarterback.

“Let’s go Dak. Time to win the Dallas Cowboys a Super Bowl,” Tad Prescott said.

There was concern if the Cowboys didn’t sign Prescott to a long-term deal, he would leave as a free agent after playing one more year for Dallas under the franchise tag.

The deal comes less than 24 hours before the franchise tag deadline.

Had Prescott played on a second franchise tag this year, his salary would have been around $37 million.

CBSDFW.com Staff