UPDATED: Dez, Cowboys Agree On Five-Year, $70 Million Deal: Report

Dez Bryant and the Cowboys have until 3 PM Wednesday to get a long-term deal done

UPDATE: 2:51 PM: The "It's Official" proclamation from the Dallas Cowboys in the form of a photo of Bryant and Charlotte Jones Anderson holding the signed contract.

Before that Cowboys' beat writer Nick Eatman's photo of Dez talking to Cowboys' owner Jerry Jones on the phone.

UPDATE 2:37 PM: The deal is done. The Cowboys just tweeted a photo of Bryant signing his new contract at Valley Ranch.

UPDATE 2:26 PM: According to ESPN's Adam Schefter, Dez Bryant's new deal comes with $45 million in guaranteed money and a $20 million signing bonus.

UPDATE: The Dallas Cowboys and Dez Bryant have agreed in principle on a five-year, $70 million deal, according to NFL Media's Ian Rapoport.

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With less than an hour until the deadline, the Dallas Cowboys and Dez Bryant are closing in on a five-year deal, according to NFL Media’s Ian Rapoport.

Earlier reports had the Cowboys offering a deal worth over $12.8 million annually, a relevant number as that’s what Bryant would earn in 2015, exactly, if he played under the franchise tag. But, as you’re probably well aware, he doesn’t want to do that.

Bryant took to Twitter earlier this week to announce that he “would not be there” if he didn’t have a long-term deal before Wednesday’s deadline. Whether that meant he intended to sit out training camp, a regular season game or two or the whole thing wasn’t clear, but it was generally agreed that it was bad news for the Cowboys.

Those questions, and all this ugliness, would disintegrate with a deal today, and it looks like we’re headed that direction.

We’ll update as we get more.

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