George Pickens’ price keeps rising, and Dallas may have waited too long. The Cowboys’ contract gamble could turn 2026 into his final season in town with Dallas.
Dallas Cowboys fans should enjoy every George Pickens catch in 2026 because this season could become his farewell tour.
Pickens is playing on a $27.298 million franchise tag after the Cowboys declined to seriously pursue a long-term contract following his breakout 2025 season. That decision already looks expensive, and the booming NFL wide receiver market could make it impossible for Dallas to keep him.
The 25-year-old delivered 93 catches for 1,429 yards and nine touchdowns last season. He finished third in the NFL in receiving yards, earned his first Pro Bowl selection and was named second-team All-Pro.
That’s not merely strong production. Those are legitimate No. 1 receiver numbers.
Baltimore recently gave Zay Flowers a four-year, $140 million extension, while Atlanta signed Drake London to a four-year deal worth more than $141 million. Pickens outproduced both players last season and owns more career receiving yards than either member of his 2022 draft class.
Why would Pickens accept less?
His next contract could push toward $40 million per year if he delivers another monster season with Dak Prescott. Every deep catch and touchdown will help the Cowboys in the standings while potentially moving Pickens further out of their price range.
Jerry Jones called the franchise tag a “win-win” arrangement. It works for Pickens because he receives nearly $28 million guaranteed. It works for Dallas because the Cowboys get another season of elite production without making a major commitment.
The losing part could arrive next offseason.
Dallas already has CeeDee Lamb signed to a four-year, $136 million contract. Lamb is a homegrown star, five-time Pro Bowler, team captain and one of the faces of the franchise. The Cowboys also appear determined to sign All-Pro defensive tackle Quinnen Williams to a long-term extension.
When Dallas has to choose between paying Pickens, protecting its investment in Lamb and extending Williams, Pickens may be the odd man out.
The Cowboys could franchise-tag Pickens again and explore a trade. They could also let him walk in free agency and hope for a third-round compensatory pick.
Either outcome would be frustrating because Dallas correctly identified Pickens as an undervalued talent when it acquired him from Pittsburgh in 2025. The Cowboys gave him a better quarterback, paired him with Lamb and watched him become an All-Pro.
Now another team may eventually enjoy the long-term payoff.
As discussed on The Dallas Cowboys Daily Blitz on FanStreamSports.com, the Cowboys didn’t create this problem by trading for Pickens. They created it by waiting while his production - and his price - continued climbing.
Dallas found another star. The question is whether the Cowboys will pay him before it’s too late.
