On Thursday, Newton posted a video on Twitter apologizing after he responded to a question from the Charlotte Observer's Jourdan Rodrigue by saying, "It's amusing to hear a female talk about routes".
Dannon is working with a new National Football League quarterback after parting ways with Cam Newton. Reports say that Prescott is already shooting his first commercial this week with the company as they sever ties with Newton.
It's believed his sponsorships will pay him around $3 million a year, equating to be more than five times his Cowboys salary.
Dannon is the 11th company to enter into an endorsement deal with Prescott.
Newton's dismissive cut at a Charlotte Observer reporter cost him a sponsorship with Dannon Yogurt's Oikos brand.
Newton eventually tweeted an apology Thursday in the form of a video that was almost two minutes long, saying his "degrading and disrespectful" comments were wrong. "It was a lesson learned for me this whole week", he said.