CLEVELAND — Jerry Jones approached Dak Prescott before the Dallas Cowboys practiced Saturday.

“Now,” the team owner said to his quarterback. “Let’s go. Now. Before kickoff.”

According to Jones, the two shook hands, after which the final notes of a historic negotiation followed.

Not only is Prescott once again the highest-paid player in NFL history, he also surpassed that mark by a wide margin when the Cowboys and Prescott’s agent Todd France agreed to a four-year, $240 million extension with $231 million guaranteed, France posted on Instagram

Prescott’s average annual salary of $60 million — a figure Jones confirmed in the player tunnel Sunday afternoon before the Cowboys kicked off against the Cleveland Browns — surpasses the previous three record holders by a whopping $5 million per year.

His $231 million guaranteed amount not only increases his guaranteed percentage from 90% on his last contract to 95.8% on this one — it also breaks the previous guaranteed record of $230 million, a value that belongs to the quarterback Prescott will be competing against on deal day: Deshaun Watson.

Stephen Jones, the Cowboys’ executive vice president who now handles most team negotiations, said signing Prescott has long been a goal of the Cowboys following the transfer of CeeDee Lamb.

Did the $60 million figure scare them off?

“You always want less,” Stephen Jones told Yahoo Sports. “But ultimately that was the number we needed and we want Dak to lead this football team.

“Good to have it behind us.”

Prescott couldn’t suppress a broad smile in the players’ tunnel just before kick-off on Sunday.

Jerry Jones said both sides are excited about retaining the quarterback, who the team owner hopes will lead the Cowboys for the rest of his life.

“What it means is a big commitment for the next five years (and) for our future, if you will,” said Jerry Jones, who turns 82 next month. “I hope Dak is our quarterback for the remainder of my time. And that’s not just limited to the terms of this contract. I have a lot of confidence in him.

“And Dak is entering into a partnership with us, which I think is very special.”

Prescott’s commitment was to agree to an extension with the Cowboys now rather than wait to test the open market after this season. He had an enormous amount of leverage, both as the 2023 touchdown leader and runner-up MVP at a time when demand for NFL quarterbacks far outstrips supply, and knowing that there was no Cowboys succession plan in sight.

Prescott’s 2020 extension made it nearly impossible for the Cowboys to franchise tag him in 2024. Fear of losing Prescott seemed to set in as the hours ticked toward the final year of his contract.

Jones acknowledged criticism from fans who don’t believe he’s giving the Cowboys enough of a chance to win.

“They may not like the decision, but anything less than a commitment is just not going to happen for me,” Jones said. “Making him the highest-paid player in NFL history — that’s what I’m doing for the fans.”

Jones said the deal wasn’t held up because of faith in Prescott, but because of financial negotiations that would allow Dallas to build a team around him. Last week, the Cowboys gave receiver CeeDee Lamb a $34 million-a-year extension, giving him the second-highest compensation among non-quarterbacks in NFL history.

Edge rusher Micah Parsons could be next in 2025.

“I think it has an impact,” Jones said. “Every player you sign (is) going to have an impact. The real question is the rest of the story, and that’s how things evolve. Where are we when that time comes?

“You have to have a plan, and believe me, I think ahead – I always have when it comes to Cowboys.”

Jones isn’t just thinking ahead to next season. He’s also thinking ahead to what the 2024 season could look like for the Cowboys. Signing Prescott is about getting to the playoffs, Jones said.

“We’ve got the structure of the team in a place that gives us a chance to compete for a championship,” Jones said. “We’re going to get players around him that give us a chance to compete for a Super Bowl

“He was our best chance to get one.”