Latest CeeDee Lamb contract update is bad news for the Cowboys

The Dallas Cowboys had an opportunity to sign a long-term deal with wide receiver CeeDee Lamb when he became eligible for an extension last offseason. Instead, team owner Jerry Jones kept his hands in his pockets.

Dallas picked up the fifth-year option on Lamb’s rookie contract, but he did not report to the Cowboys’ organized team activities this spring. Still, the delay in a lucrative contract extension isn’t necessarily bad news for the star wideout — Dallas will have to pay a steep price for not extending him sooner. 

CeeDee Lamb’s patience will increase his price tag

In fact, Lamb may be delaying the extension intentionally, according to ESPN’s Jeremy Fowler. 

“CeeDee Lamb, a couple of things in play here,” Fowler said. “He could be waiting on [Cowboys quarterback Dak] Prescott — Dallas might need to prioritize a quarterback first. And also, CeeDee Lamb appears to be waiting on Justin Jefferson.”

The longer Dallas waits, the more Lamb's price will rise. 

As the NFL continues to expand to international audiences and reel in record-breaking viewership numbers, the league has managed to increase revenue from commercials and broadcasting deals. All of the good fortune has trickled down to player contracts. The salary cap, which is determined by the league's revenue as defined in the collective bargaining agreement, saw a record-setting increase this year.

In 2022, star wide receivers such as Tyreek Hill and Davante Adams received deals that guaranteed them approximately $70 million over the first three years of their new deals. Just two years later, those figures have soared. This offseason, Philadelphia Eagles inked A.J. Brown to a revised contract that will earn him $80 million over the next three years.

Along with rapidly increasing salaries, there are a few star wide receivers across the league who are primed to reset the wide receiver market. Minnesota Vikings wide receiver Justin Jefferson could become the highest-paid non-quarterback in the league with nearly $100 million in the first three years of his new deal. 

Waiting on Justin Jefferson's contract will hurt Cowboys with CeeDee Lamb

It makes sense for Lamb to wait for Jefferson to sign with Minnesota. Then, Lamb’s agents can use that contract as a benchmark during negotiations. 

“Really, the whole league is waiting on [Jefferson] to get done,” Fowler explained. “He could be the highest-paid non-quarterback in the league when it’s all said and done for Minnesota. [If] he’s making $34 million a year [and] you’re CeeDee Lamb, you don’t want to jump out yet. You want to wait for him to do that and then circle back with Dallas.”

To make matters worse for Dallas, Lamb’s contract extension will be exponentially more expensive after his first-team All-Pro season in 2023. Lamb notched a league-high 135 receptions for 1,749 receiving yards and 12 touchdowns in the regular season. 

The production is hardly a surprise — Lamb has set new career-highs in receptions, yards, and touchdowns every year of his career. Jerry Jones may have kept his hands in his pockets, but he'll have to pull out the money eventually. And he’ll likely wish he would’ve done so sooner.