Bailey, who turns 26 in Sunday, was set to be a restricted free agent. His renegotiated deal runs through 2020.
The Cowboys were likely to use the second-round tender on Bailey worth $2.124 million before striking the long-term deal.
Signed as an undrafted free agent in 2011, Bailey has made 88 of 98 field goal attempts in his three seasons, missing just four kicks in the last two seasons. He made 28 of 30 tries in 2013, including six of seven from 50 yards or more. In his first two seasons Bailey made 5-of-9 attempts from 50-yards or more. He also had 57 touchbacks.
Bailey has kicked a franchise-record eight game-winning field goals since joining the Cowboys.
The only other time the Cowboys put a serious investment into a kicker came in 2006 when they signed Mik Vanderjagt to a three-year, $5.4 million deal that included a $2.5 million signing bonus. Vanderjagt was cut that season after poor form.
With 11 more made attempts, Bailey would qualify for the all-time percentage leader. Vanderjagt is currently the most active kicker in NFL history, converting 86.5% of his kicks.
Because THAT’S the problem. You haven’t been good in so long because your kicker didn’t have a long enough deal. Bravo, JJ. The funny thing is Dan Bailey is actually a great kicker, but when you have a chance to knock Jerry Jones and the Cowboys, you take it. And unless Dan Bailey becomes the first human in history to stop Tony Romo from doing Tony Romo things, the Cowboys will miss out on the playoffs with a week 17 loss yet again next year.