The Miami Dolphins have secured Jaylen Waddle with a lucrative three-year contract worth nearly $85 million, mostly guaranteed. This makes him the latest wide receiver to cash in big in the NFL. With an average salary of over $28 million per year, the Dolphins’ commitment to Waddle and Tyreek Hill of nearly $60 million annually is causing a stir in terms of salary cap commitments that will impact how rosters are constructed by general managers league-wide.
Meanwhile, the Minnesota Vikings and Dallas Cowboys are focused on other challenges this offseason, as they have to keep their star wide receivers happy amidst the shifting landscape of NFL contracts.
In 2023, the Cowboys heavily relied on CeeDee Lamb, who led the NFL in receptions and accounted for almost 40% of the team’s passing offense, earning him first-team All-Pro honors. On the other hand, Justin Jefferson has had an exceptional start to his NFL career, averaging close to 1,500 yards per season despite missing games last year. Now he will play a key role in guiding JJ McCarthy’s transition from NCAA champion to NFL rookie.
Both Lamb and Jefferson are entering their age 25 seasons, which are the final years of their current contracts. They are aware that one of them will become the highest-paid receiver in league history at some point, with the other potentially surpassing that amount in the following seasons.
Currently, the benchmarks for Lamb and Jefferson are the contracts signed by Amon-Ra St. Brown and A.J. Brown this offseason. The Vikings and Cowboys have the financial flexibility to make mega-deals happen, but each team faces unique challenges due to other contracts on their books.
While the Vikings have significant projected salary cap space for 2025, the Cowboys are also in a strong financial position but have key players to extend in the near future. This complicates the negotiation process for both Lamb and Jefferson, as they aim to outdo each other in contract negotiations.
Nevertheless, regardless of who signs first, both players are expected to secure lucrative deals approaching $120-130 million with substantial guarantees, reflecting their status as elite wide receivers.
Jaylen Waddle’s contract may complicate matters for teams trying to manage two top wideouts under the salary cap, but for Lamb and Jefferson, their main competition remains each other. As they strive to secure the title of the league’s highest-paid receiver, both players are on track to earn substantial wealth in the coming years.
