Much of the Cowboys’ 2024 offseason has been defined by the team’s lack of progress on extension talks with quarterback Dak Prescott entering the final year of his current deal. On the horizon, though, are mega-deals for edge rusher Micah Parsons and wideout CeeDee Lamb. 
With the latter having been drafted one year earlier than the former, he understandably represents a higher priority for Dallas. Lamb is in line to secure a massive raise on his second contract, but he is already on the books for 2024 via his $17.99MM fifth-year option. Team and player are positioned to discuss an extension this offseason, but for now that is not the case.
Calvin Watkins of the Dallas Morning News reports Lamb’s representatives have not yet held any “substantial talks” with the Cowboys about a new deal. The 25-year-old has been eligible for a new deal since last offseason, but his public comments on the matter have included a desire to become the league’s highest-paid receiver. Reaching that goal would require an AAV above Tyreek Hill‘s $30MM figure along with outpacing the value of Justin Jefferson‘s presumed Vikings extension.
As Watkins’ colleague Michael Gehlkin noted earlier this week, Lamb may not take part in the Cowboys’ upcoming offseason program. That process – which begins April 15 – is voluntary, though, and an absence would not carry nearly the same weight as a hold out (or the increasingly popular hold-in) during training camp. With an extension not in sight, it would come as no surprise at this point if Lamb attempted to exercise his leverage to help work out a monster contract.
The Oklahoma product set a new franchise record for receivers in 2023 (135 catches, 1,749 yards, 14 total touchdowns). That production earned him a third straight Pro Bowl invitation along with first-team All-Pro honors. Lamb’s age and statistical output have him positioned to occupy a large portion of the Cowboys’ cap sheet for years to come, but the same is of course true for Prescott (whom the team still hopes to extend this offseason) and Parsons (who is now extension-eligible and will no doubt become one of the league’s highest-paid defenders on his next pact).
As things stand, the Cowboys are projected to have just over $100MM in cap space for the 2025 season. That figure will change dramatically over time, of course, especially when clarity emerges for any or all members of the Prescott-Lamb-Parsons trio. In Lamb’s case, it appears significant progress will still need to be made for a multi-year agreement to be hammered out.