Cowboys Cap: Inside How This Needn't Be George Pickens' 'Last Dance' In Dallas

Dallas Cowboys receiver George Pickens is playing the 2026 season on the franchise tag ($27.3 million) after the franchise opted against signing him to a long-term deal.

Now, we know an extension would have freed up roughly $20 million in cap space for the Cowboys, yet they chose not to do it.

With Pickens set to command at least $35 million APY next season, many are of the thought that 2026 will be his final year in Dallas.

With Dak Prescott and CeeDee Lamb earning top money, it doesn't seem feasible for Dallas to then pay Pickens huge money, does it? So, Pickens on his last legs with the Cowboys makes sense.

But what if it isn't his "Last Dance'' in Dallas?

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With the Cowboys having just $5.3 million in cap space per Over The Cap, a Pickens extension would ease his 2026 cap hit if the Cowboys wanted to do it.

Some think that Dallas isn't extending Pickens because it wants to see more from him from a behavioral standpoint, and that's fine, while others think it is because of the upcoming contracts for some of Dallas' stars.

But it is here where things get interesting folks, real interesting.

According to Over The Cap, next offseason, Dallas won't have any pressing, high-value free agency contracts hanging over their heads.

Pickens and DeMarvion Overshown are the only potential "stars" set to hit the market, while there are others like Ryan Flournoy, Otito Ogbonnia, Cobie Durant, and Malik Hooker, but none would require huge deals.

Even Overshown, depending on the year he has, could go for $8 million APY over three years potentially.

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Plus, looking at the salary cap growth over the past couple of years, Dallas might be setting itself up for a big offseason. In 2024, it was $255.5 million; the following year, it rose to $279.2 million, and this offseason, it reached $301.2 million. So roughly $20 million each season.

So, in theory, there could be ample funds to extend Pickens next offseason if Dallas wanted to, and say, go "all-in."

Of course, projecting ahead, in 2028, Quinnen Williams, Kenny Clark, Rashan Gary, KaVontae Turpin, and Tyler Guyton are the only starting players of note who are due to be free agents. In 2029, things get dicey as Dak, CeeDee, Tyler Booker, and Donovan Ezeiruaku are set to be free agents.

But who cares if you can get a Super Bowl before that, right?

So, you could make the case that in the next couple of years, the Cowboys could seriously invest in the roster for a chance at that elusive Super Bowl.

The Cowboys, with no pressure from free-agent contracts next offseason, could choose to extend Pickens and ease cap pressure (with the cap set to increase again), and then, if they wanted, look at Quinnen and others for extensions.

So, while it still feels like Pickens could be on his last legs in Dallas, financially at least, it doesn't have to be.