Latest NFL News and Notes

The biggest news of the week came out of Dallas on Monday when it was announced that the Cowboys have finally agreed to a contract extension with quarterback Dak Prescott. This has been an ongoing story over the past two years, but it has finally reached a conclusion.

According to league sources, the two sides have agreed to a four-year contract extension worth $160 million. $126 million of this money is guaranteed, and the signing bonus of $66 million is the richest contract in NFL history.

The Dallas Cowboys will be paying Prescott $75 million in the first year of the new deal, and this is also a record in the NFL. Prescott could eventually earn $164 million based on incentives in his contract, and the team has actually stretched out the deal to six years to help against the salary cap.

A press conference is set for Wednesday in Dallas, but the team has confirmed that a contract extension has been reached. Prescott missed a majority of the 2020 season with an ankle injury but is expected to return in 2021.

Here Come the Tags

This is also the time of year when teams start to use the franchise tag on players that they don’t necessarily want to pay, but they can’t afford to lose. Many teams are able to reach long-term extensions with a player after using the franchise tag, but that isn’t always the case.

The Washington Football Team has announced that it has placed the franchise tag on Brandon Scherff for the second consecutive year. The right guard will receive $18.03 million during the 2021 season, which is a 20% increase from the previous year.

The team is hoping to come to an agreement on a long-term contract extension, and they have all the way up to July 15 to do so. Scherff is a four-time Pro Bowl selection and was named to the All-Pro team in 2020.

Safety Marcus Maye of the New York Jets also received the franchise tag on Monday, just one day before his 28th birthday. The team has expressed a desire to sign Maye to a long-term deal but were unable to get something done before the Tuesday deadline.

Maye is the first defensive player to receive the franchise tag by the New York Jets since 2016. He will make an estimated $10.5 million as that is the number that is set for a franchise tag used at the safety position. 

Finney Out in Cincinnati

The Cincinnati Bengals have released guard B.J. Finney after a very disappointing 2020 season. Cincinnati received Finney as a part of the Carlos Dunlap trade in October, but he never actually appeared in a game for the team.