CeeDee Lamb WR
| Reported deal: | 4 years, $136 million |
|---|---|
| New money: | $136 million |
| New years added: | 4 |
| Technical new-money APY: | $34 million |
| Reality APY: | $30.4 million |
| Verdict: | Market Rate |
While the headline number of $34 million APY sounds massive, the reality is more nuanced due to the contract structure and guarantee timing. Lamb received $67 million fully guaranteed at signing, but the remaining $33 million in guarantees phases in over time - his 2026 salary becomes guaranteed in March 2025, and $7 million of his 2027 salary becomes guaranteed in March 2026.
CeeDee Lamb ended his holdout with the Dallas Cowboys on August 26, 2024, signing a 4-year, $136 million extension that made him the second-highest paid non-quarterback in NFL history at the time. The deal included a record-setting $38 million signing bonus for a wide receiver and $100 million in total guarantees, with an average annual value of $34 million that trails only Justin Jefferson’s $35 million per year.
The extension came after a highly publicized contract standoff where Cowboys owner Jerry Jones initially claimed there was no urgency to get a deal done, prompting Lamb to respond with a simple lol on social media. Lamb had been set to play the 2024 season on his $17.99 million fifth-year option before becoming a free agent, but the Cowboys ultimately locked him up through the 2028 season. The timing was crucial as the Cowboys needed their top offensive weapon ready for what they viewed as a pivotal season.
Additional Contract Details
| Contract type | Extension |
|---|---|
| Contract through | 2028 |
| Guaranteed at signing | $67 million |
| Total guarantees | $100 million |
| Date signed | 2024-08-26 |
| Last updated | 2026-06-14 |
Reality Check
While the headline number of $34 million APY sounds massive, the reality is more nuanced due to the contract structure and guarantee timing. Lamb received $67 million fully guaranteed at signing, but the remaining $33 million in guarantees phases in over time - his 2026 salary becomes guaranteed in March 2025, and $7 million of his 2027 salary becomes guaranteed in March 2026. This creates potential escape hatches for Dallas if Lamb's performance declines.
The Cowboys have already restructured the deal twice to create cap space, converting $25 million of his 2025 salary and $23.25 million of his 2026 salary into signing bonuses. The contract includes void years from 2029-2032, meaning dead money will extend beyond the actual playing years. With annual per-game bonuses of $1 million and the restructuring moves, Lamb's true average annual value over the life of the deal works out closer to $30.4 million when accounting for the practical guarantee structure and void year accounting.
Frequently Asked Questions
How much did CeeDee Lamb actually get guaranteed at signing?
$67 million was fully guaranteed at signing, including the $38 million signing bonus and his 2024-2025 salaries. The remaining $33 million in guarantees vest over time based on roster status in future March dates.
Why have the Cowboys already restructured Lamb's contract twice?
Dallas converted $48.25 million of future base salaries into signing bonuses to create $38.6 million in immediate cap space for free agency moves, though this pushes dead money into void years 2029-2032.
How does Lamb's deal compare to other top receivers signed in 2024?
Lamb's $34 million APY ranked second only to Justin Jefferson's $35 million, ahead of A.J. Brown ($32 million), Amon-Ra St. Brown ($30.003 million), and Tyreek Hill ($30 million) when signed.
What happens if the Cowboys want to move on from Lamb before 2028?
The team has a potential out after 2027 with only $17.6 million in dead cap, as 2028 contains an option bonus that can be exercised into void years or kept as base salary.
Does Lamb have any performance bonuses in his contract?
Yes, Lamb earns $58,823 per game active bonuses totaling $1 million annually from 2025-2028, plus his contract includes $60 million in injury insurance coverage through 2027.
Sources
- https://www.nfl.com/news/cowboys-wr-ceedee-lamb-agree-to-terms-on-four-year-136-million-extension
- https://overthecap.com/player/ceedee-lamb/8757
- https://www.spotrac.com/news/_/id/2441/breaking-down-ceedee-lambs-136m-extension
- https://www.espn.com/nfl/story/_/id/41003743/sources-cowboys-ceedee-lamb-agrees-four-year-136m-deal
- https://www.dallascowboys.com/news/cowboys-restructure-ceedee-lamb-s-contract-save-20-million
