CeeDee Lamb, Trevon Diggs contract extensions: Projecting cost for Cowboys to keep both

The Dallas Cowboys face numerous decisions on contract extensions for a few of their rising stars. While Micah Parsons is certainly at the forefront of that, the immediate players who'll likely need to be addressed are wide receiver CeeDee Lamb and cornerback Trevon Diggs.

Both Lamb and Diggs are locks to receive high-dollar contract extensions, which will land them within the top 10 highest-paid players at their position. But it's unrealistic to expect the Cowboys to be able to pay both Lamb and Diggs the absolute top of that "highest-paid player" range, so evaluating their potential deals is vital.

Evaluating CeeDee Lamb's potential contract extension with Cowboys

Per Over The Cap, there are currently 14 wide receivers earning north of $20 million annually, and it's a safe assumption that Lamb would wind up near the middle-to-top of that group. Miami Dolphins wide receiver Tyreek Hill leads the way, averaging $30 million per season, followed by Davante Adams of the Las Vegas Raiders at $28 million annually.

The latest market value contract projection for Lamb from Spotrac projects him to earn $22.5 million annually. This number would make Lamb the No. 10 highest-paid wide receiver in the NFL based on yearly average, placing him ahead of Chicago Bears WR D.J. Moore, a pair of Los Angeles Chargers wideouts in Keenan Allen and Mike Williams, former Cowboy Amari Cooper, and Tampa Bay Buccaneers pass-catcher Chris Godwin.

Through his first three NFL seasons, Lamb has impressed, posting regular-season marks of 260 receptions, 3,396 yards, 20 touchdowns, and has increased his yards per reception in each season. This resulted in the budding star posting a career-best 107 receptions for 1,359 yards and nine touchdowns in 2022. Lamb's contract should be at the front and center in terms of priorities for the Cowboys, and don't be surprised if it's done sooner than later.

Evaluating Trevon Diggs' contract extension value

When it comes to nailing down how much to pay top cornerbacks, things can get a bit more tricky. The Cowboys have typically opted not to pay cornerbacks top-dollar, although that doesn't mean it's how they'll approach Diggs. Based on his market value on Spotrac, they project him to make $15.4 million annually on a new deal, which would appear to be a fair number on the surface.

If the Cowboys and Diggs agreed to a deal worth $15.4 million annually, Diggs would be the No. 9 highest-paid cornerback, as it currently stands. He'd land just behind Chargers' J.C. Jackson and Buffalo Bills standout Tre'Davious White. It would also place him ahead of Tampa Bay Buccaneers cornerback Carlton Davis and NFC East rival Darius Slay, per Over The Cap.

Through three seasons, Diggs has been a ballhawk, totaling 17 interceptions, with 11 of those coming in 2021. He posted his highest single-season total for combined tackles in 2022 with 59, and his sheer presence on the field helps the Cowboys defense, as quarterbacks are far more unlikely to force a throw into an area where Diggs is.

The 25-year-old cornerback's deal will be the tough one to sort out, but if Jerry Jones and company want to make it work, they've almost always found a way to do so. The Diggs debate is going to be one that looms large for Dallas, and it's not nearly as easy to predict when comparing it to Lamb's.