The Dallas Cowboys held their annual Cowboys Season Kickoff event at The Star in Frisco earlier this week.
Players and front office personnel were asked their thoughts on various topics regarding the team.
Executive Vice President Stephen Jones was one of them, and he had some words that piqued the interest of Cowboys Nation.
As first reported by Dallas Morning News Reporter Michael Gehlken, Jones stated that Dallas was “working hard” on extensions for WR CeeDee Lamb and RT Terence Steele.
Dallas has done a good job massaging the salary cap this offseason with contract extensions and restructures.
A contract extension for Lamb or Steele wouldn’t necessarily create room in the 2023 salary cap, but it would have other advantages.
Getting Ahead of the Market
There are two main reasons for getting ahead of the rest of the NFL when negotiating contracts with players.
One, coming to an agreement prior to the expiration of the contract prevents teams from having to use the dreaded franchise tag.
Two, the sooner teams strike deals with players, the cheaper the contract.
It seems every time a new contract is signed, it becomes top of the market for its respective position.
Some of these market setting contracts are for players most feel are not even the top five at their position.
Take Christian Kirk last season, for example.
Dallas felt that Amari Cooper was too expensive to keep at $20 million per season, and was traded to the Cleveland Browns for crumbs.
Shortly thereafter, the Jacksonville Jaguars signed Christian Kirk, a player not in the same stratosphere as Cooper to an $18 million annual salary.
All of a sudden, Cooper’s $20 million felt more than reasonable.
Now another Cowboys wide receiver is up for an extension, and Dallas would be wise to move sooner rather than later.
CeeDee Lamb
As a first round pick, CeeDee Lamb has the 5th year option on his rookie contract should the Cowboys decide to use it.
The problem with that is Justin Jefferson, arguably the best wide receiver in football was drafted in the same year as Lamb, and is also up for extension.
It is imperative that Dallas get a deal done with Lamb prior to the Vikings striking a deal with Jefferson.
Jefferson is sure to reset the market as the highest paid wide receiver of all time, and Lamb would want money either equal to or near the same.
The latest wide receiver to reset the market is Tyreek Hill of the Dolphins, who averages $30 million per season.
Behind him is the Las Vegas Raiders’ Davante Adams at $28 million per.
Cooper Kupp, Stefon Diggs, and AJ Brown round out the top five, with Brown coming in at $25 million per season.
One can assume that the $25 million per season that division rival Brown is commanding would be the floor for negotiations with Lamb.
With Jefferson likely commanding over $30 million per year, Dallas needs to lock in Lamb as soon as possible with a comfortable figure between $25-28 million per season.
Terence Steele
The prices for the offensive tackle market aren’t nearly as expensive, but it would be prudent to lock in Terence Steele early nonetheless.
Steele is the kind of success story that NFL teams dream of.
Little to no draft compensation spent, and receiving a Pro Bowl caliber player in return is a general manager’s main goal.
Steele thrust himself into the Cowboys starting lineup as an undrafted rookie free agent in 2020 after injuries on the offensive line forced him into action.
Since then, he has not looked back, starting 40 games in his three years.
The 2022 season ended abruptly for Steele after tearing his ACL in a Week 13 matchup versus the Houston Texans.
He has spent the entire offseason working hard on his return, and looks to reward himself and the Cowboys by being ready to go Week 1 at the New York Giants.
Despite the injury, Steele has the leverage in contract negotiations after the Cowboys struggled to run the ball effectively after his injury.
There are no obvious prospects behind him to take over at right tackle.
Matt Waletzko seems to be the most obvious option, but lingering shoulder issues are a concern.
Steele wouldn’t command to reset the market at his position, but his current 2023 salary of $4.304 million ranks 49th amongst all tackles.
That number would surely double, and maybe even triple on his new deal.
If Dallas gives him an opportunity to show improvement throughout the season, that number will just keep climbing.
Stephen Jones says the Cowboys are working hard on extensions for these two players.
For the sake of the salary cap, and retaining other players around them, they better move quickly.