Cowboys BREAKING: CeeDee Lamb Contract Move Done Before Deadline

As Dallas Cowboys sources last week told CowboysSI.com would happen, the team has indeed picked up the fifth-year option on receiver CeeDee Lamb ahead of the Monday, May 2 deadline.

FRISCO - As Dallas Cowboys sources last week told CowboysSI.com would happen, the team has indeed picked up the fifth-year option on receiver CeeDee Lamb ahead of the Monday, May 2 deadline.

Lamb is entering the final year of his rookie contract that will see him earn "just" the $2.5 million in base salary, and a decision was to be made whether to sign him long-term now or exercise his fifth-year option.

Of course, the decision is largely a non-brainer, with the bigger news in our exclusive report the fact that Dallas is considering ramping up talks - a source called them "ongoing'' - in addition to locking into that fifth-year option plan.

The going rate for top receivers in the NFL is roughly around $25 million APY, and if Dallas opts to extend Lamb, that is the type of money he can expect to be asking for.

But first? The Cowboys exercise Lamb's fifth-year option. Having until May 2 to do it, now that it is happening, Lamb will earn roughly $18 million for the 2024 season.

The parties can continue to negotiate, but as time moves on, one can expect his eventually APY number to be north of the current salary for the top-tier receivers in the league.

It is a juggling act for teams and players. Lamb the next Cowboy in line to get "the bag," but Trevon Diggs and Micah Parsons are due for new deals as well in the near future.

Dallas loves to "sign our own,'' and the franchise is approaching a pivotal time where three of its best young talents are waiting at the Bank of Jerry. But CeeDee Lamb's situation puts him at the front of the line with first the option pickup on the Monday after the NFL Draft marking the first milestone.

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