The Dallas Cowboys and wide receiver CeeDee Lamb just watched as the Minnesota Vikings agreed to a four-year $140 million contract with Justin Jefferson on Monday, making him the highest-paid non-quarterback in NFL history.
Jefferson was just the latest receiver to earn a big day this offseason, and there could be more to come.
Like Lamb.
Lamb is preparing to enter the final year of his deal and has not shown up for organized team activities. He hasn’t explicitly stated why, but it isn’t hard to connect the dots.
The good news for Lamb is that the Cowboys are apparently prioritizing him over any other potential extensions (e.g. Dak Prescott and Micah Parsons), so something should get done in the coming weeks or months.
The question is, what does Jefferson’s deal mean for Dallas and Lamb?
Did the Cowboys Screw This Up?
Lamb became eligible for an extension last offseason. That means the Cowboys have had over a year to agree to terms with the star pass-catcher, but at this point, they have nothing to show for it.
The problem is that Lamb’s price has gone up in the process.
Philadelphia Eagles receiver A.J. Brown really set the tone for Jefferson, as he scored a three-year, $96 million deal earlier this offseason. That made him the league’s highest-paid receiver until Jefferson broke the mark this week.
The thing is, had Dallas struck a pact with Lamb in the previous 12 months, it could have gotten him quite a bit cheaper. Now, it will have to pay through the nose to extend him.
The Cowboys seem prepared to do that. They know Lamb’s value. He is coming off of a monster 2023 campaign in which he led the NFL with 135 receptions to go along with 1,749 yards and 12 touchdowns. Along with Jefferson and Tyreek Hill, he may very well be a top three wide out in football.
That means Lamb will absolutely get more than Brown, who is now making $32 million annually. He won’t get more than Jefferson, though, who is at $35 million per year.
So, going by process of elimination, the 25-year-old will get either $33-34 million annually. That’s a hefty price for a Cowboys squad that may also need to give Prescott $60 million a year and will also need to cough up big bucks to retain Parsons (although they don’t have to worry about that for a little while).
Dallas entered the offseason with severe financial restrictions as it is. Now, Jerry Jones and Co. are probably sweating a little bit more knowing what is ahead of them.
Had the Cowboys got something done with Lamb last year, they may have been able to get him for $30 million a year. Maybe even less. But now, with the way the wide receiver market has been reset these last several months, Dallas is in some trouble.
Make no mistake about it: the Cowboys will re-sign Lamb. They have no choice. They will also probably extend Prescott and Parsons. They’re just going to have to pay a lot more than they thought they were.
Heck, maybe this is also a sign that Dallas should try and lock Parsons up early. That way, his price doesn’t increase next offseason like CeeDee Lamb’s did this year.
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