Although most of the discussion surrounding NFL contracts revolves around total value and average value per year, there's so much more going on in this mega deals than meets the eye.
Dallas Cowboys wide receiver CeeDee Lamb got $136 million on a four-year extension to make him the second-highest paid non-quarterback in the league at $34 per year but ESPN's Todd Archer recently reported on the details and there's much more to take away from the deal.
Below is the full breakdown and some notes on my end. All financial information comes from Archer's tweet.
- Signing bonus: $38 million
- Base salary per year:
- 2024 - $1.15M
- 2025 - $26.8M
- 2026 - $25M
- 2027 - $28M
- 2028 - $30.9M
- The first two years are fully guaranteed at signing with the 2026 base salary and per-game bonuses becoming fully guaranteed on the fifth day of the 2025 league year. In 2027, $7 million becomes fully guaranteed on the fifth day of the league year.
- Cap savings: By signing Lamb to the extension, the Cowboys open up $9.2 million in salary cap space this year, which can be either used now or carried over to 2025 when the time comes.
The good stuff: Key option bonus in 2028
There are four void years on Lamb's contract from 2029 to 2032. As the name implies, these are "mock years" that void when the contract expires in 2028 and are exclusively put in the deal to spread the cap hit of signing bonuses and future restructures over a longer period of time. It's a common practice in today's league used to manipulate the salary cap.
There's an option bonus in 2028 worth $29 million that would lower Lamb's salary for that year from $30.9 million all the way down to $2M. The bonus will give flexibility to the Cowboys as it allows for the four void years mentioned above and in turn, they can automatically restructure Lamb's deal pretty much every year through the length of the contract.
Is Lamb's deal a sign that Dak Prescott's contract is near?
A very particular aspect of Lamb's deal stands out when looking at the above details: His $1.15M base salary in 2024 being agreed to this late in the season, when the Cowboys are unlikely to make any more moves, could suggest the team is opening up cap space for something big... Otherwise why would they be moving money out of the ongoing league year?
The only "big" thing that appears to be on the horizon is taking care of Prescott's future. Although Jerry Jones has repeatedly claimed the team is comfortable waiting until 2025 to strike a deal, the reality is they're losing leverage by the minute. The best path forward if their intention is to keep their franchise quarterback is undoubtedly to get it done prior to the start of the regular season.
This is only speculation but it's certainly something that stands out from the Cowboys' contract for Lamb.
Related: Meet the Dallas Cowboys' initial 53-man roster: Coaching staff made difficult choices during cuts
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