Cowboys Source: CeeDee Lamb 5th-Year Option to Be Picked Up at Deadline; Contract Talks 'Ongoing'

Cowboys receiver CeeDee Lamb enters the final year of his rookie contract, which makes him eligible for an extension. What will Dallas do?

FRISCO - When it comes to "signing their own," the Dallas Cowboys are better than most. But at times, it can be argued that they do have a tendency to wait a little too long to agree terms with players and, thus, end up costing the franchise more than they originally wanted (Dak Prescott is a case in point).

This is where the contract situation of receiver CeeDee Lamb needs to come into focus.  ... as a deadline nears.

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

And CowboysSI.com has been told that Dallas is both considering ramping up talks - a source called them "ongoing'' - and is 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 will exercise Lamb's fifth-year option. Having until May 1 to do it, assuming it does happen, 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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