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Dak Prescott's long-awaited new contract is finally here.

The Cowboys announced Monday night that Prescott and the club have agreed to terms on a new contract.

It is a four-year deal worth $160 million, with $126 million guaranteed, NFL Network Insider Ian Rapoport reported. ESPN.com's Todd Archer added more detail, reporting Prescott’s deal actually is a six-year deal that voids to four years so as to help the Cowboys against the cap.

Remember, a year ago, Prescott wanted a four-year deal. The Cowboys wanted him to sign on for five.

The sides couldn’t agree, and the quarterback played 2020 under the $31.4 million franchise tag.

That sent them back to the negotiating table this offseason. And now they have a long-term deal with the compromise Archer reports offering the path to success.

Prescott, 27, also gets a no-trade clause.

The first three years average $42 million per year, per Adam Schefter of ESPN. That means the final year will be worth $34 million, which, as Rapoport suggests, would be time to redo it.

As Profootballtalk.com notes, Prescott cost the Cowboys more than he would have had the team reached agreement earlier in his career, but they ensured the former fourth-round choice will be around beyond this season.

Owner Jerry Jones long has expressed confidence that in Prescott the Cowboys have their quarterback of the present and the future.

Prescott is 42-27 in the regular season in his five-year career, with a 1-2 postseason record. He has passed for 17,634 yards with 106 touchdowns and 40 interceptions.

Prescott was leading the league in passing yards with 1,856 before the compound fracture and dislocation of his right ankle in Week 5 against the Giants. He underwent immediate surgery and a second surgery in December.