The signature is on the dotted line. Per several reports, the Dallas Cowboys have inked their first-round pick, No. 4 overall, Ezekiel Elliott to his rookie deal. As a function of the most recent CBA, the deal comes in at $24.9 million over four years, with all of it guaranteed.

The deal fits squarely within the parameters of what CowboysWire outlined following the draft. We based our estimations on the compensation received by the last several fourth overall picks and the NFL’s outline of increased base salary and signing bonus schedules.

Here is what we wrote on May 10, 2016:

Here’s a look at what we expect Elliott to cost over his four-year contract.

The numbers we use above for the roster bonuses are an estimation based on the percentage increase in the cap from 2015 to 2016. We then followed the model of the bonuses doubling each year based on the prior fourth picks.

THE BALANCE BETWEEN PRODUCTION AND PAY FOR PICKS

An interesting look, courtesy of our friends at OverTheCap.com. Much ink was spilled pre-draft about the merit of using a Top 5 running back in today’s NFL. Jerry Jones alluded to this in the team’s press conference prior to the first round, stating that the best years to actually have a running back at a high cost would be the five you get from a rookie deal (plus fifth-year option).

He wasn’t wrong, and yet, there is still something to say about the financial impact of drafting a runner over other positional values. OTC looked at the 31 first round picks and where each player now sits among the APY rankings of their position.

Ezekiel Elliott is only the 10th highest-paid running back. That’s a great value for what he is expected to be in Dallas. However, when looking at the other selections, it’s an outlier. No other player ranks in the Top 10 at their position besides Elliott. In fact, only two players, San Diego’s DE Joey Bosa and Indianapolis’ C Ryan Kelly make the Top 20 at their respective positions.

The average APY positional ranking for a first round draft pick was 34th. In this regard, Elliott is a pretty bad value for running back in a draft, where you try to obtain elite talent at wholesale prices. On the plus side, as noted above, the fifth-year option for running backs in the Top 10 will be significantly less than other positions.

Elliott is sandwiched between Demarco Murray and CJ Anderson on the running back pay scale.