The problem for the Dallas Cowboys is not that they’re lacking in talent. The problem is paying that talent, an especially pressing problem for a team that, even after letting a parade of free agents leave the team, still has only about $4 million in effective cap space, per OverTheCap.com. But Dak Prescott, Micah Parsons and CeeDee Lamb, though technically signed for next year, are all up for new contracts.

All are going to need big-money deals. If the Cowboys make no move on Prescott, he will carry an incredible cap hit of $55 million for the season. Parsons is signed for $3 million this year, and has a fifth-year option in 2025 at $21.4 million, but the Cowboys need to give him a new deal.

And Lamb might be the trickiest. He is signed for $18 million in 2024, the amount of his fifth-year option. But he does not want to play under that contract—he wants a big new deal, now.

The Athletic is predicting a compromise in which Lamb plays out 2024 under his option number, then gets a record-setting new deal of $125 million for four years thereafter. That’s a $31.25 million AAV, putting Lamb ahead of the highest paid receiver in history, Tyreek Hill of the Dolphins and his $30 million per year.

Cowboys Ready to Pay Big for Their Top WR

In their newsletter, The Athletic’s Jacob Robinson and Diana Russini have the Cowboys locking up Lamb for the next four years, guaranteed. Projecting what will happen with all the top wide receivers around the NFL, they have Lamb landing an extension ahead of Vikings star Justin Jefferson, who is also up for a new deal.

The prediction reads: “Jerry Jones and his Cowboys pay up with a four year, $125M deal that bests Tyreek Hill’s league-leading $30M/year, signed before they see Jefferson’s contract. Tyreek got $72M guaranteed. Lamb sees $90M, ensuring he remains in Dallas until at least 2027.”

Four receivers lead 2025 FA class, plus the mechanics of three QB prospects ⤵️https://t.co/m9hlGAcY4J

— The Athletic NFL (@TheAthleticNFL) April 9, 2024

Ah, but Lamb’s time as a record-holder could be short-lived. Once Jefferson sees what Lamb gets, the site predicts, he will ask for more. And the Vikings are expected to give it, with the projection going as high as $132 million over four years.

CeeDee Lamb vs. Justin Jefferson Contract Showdown?

Lamb does have a case to be paid more than Jefferson, and the fact that both players are in extension mode at the same time could throw a monkey wrench into the works. Last year, Lamb led the NFL in receptions with 135 and was second in yardage at 1,749 yards. Jefferson might be somewhat more dynamic than Lamb, but Lamb has missed just one game in four seasons.

Jefferson has missed seven, all coming last year.

Former GM and analyst for The Athletic Randy Mueller wrote, “Nobody can argue with Lamb’s production: 181 targets, 135 receptions and 80 first downs. You can make a clear case that he is just as important to the Cowboys as Dak Prescott, if not more so. He is tough, instinctive and very willing to do the dirty work. He is a nifty athlete with great body control, and he’s adept at finding space versus zone coverage. Lamb also brings value as a gadget guy on reverses, screens, etc.

“I rate him slightly below Jefferson only because of Jefferson’s rare explosive ability to get away from coverage and as a deep threat.”