The Dallas Cowboys and quarterback Dak Prescott have agreed to a four-year, $240 million contract that, according to multiple reports, will make him the highest-paid player in NFL history.

The deal includes a guaranteed amount of $231 million. ESPN first reported on the contract signing.

Prescott was set to enter the final year of his current contract, and lengthy negotiations ended with him receiving the largest contract in league history, worth $60 million per season.

Follow the live coverage of Week 1 here

Prescott, 31, was selected in the fourth round of the 2016 NFL Draft. He is entering his ninth season in the NFL, all with the Cowboys. He has a career record of 73-41, but just a 2-5 record in the postseason.

Last season, Prescott set career highs in completions (410) and touchdowns (36), threw for 4,516 yards and had just nine interceptions. He led Dallas to a 12-5 record, but the Cowboys lost at home in the first round of the playoffs to the Green Bay Packers.

Prescott is the second Cowboy to sign a new contract after lengthy negotiations this offseason. He is one of the key offensive players to sign new deals, along with fellow top receiver CeeDee Lamb. Now both Prescott and Lamb have contracts through 2028.

The Cowboys will play against the Cleveland Browns in their opening game of Week 1.