Matt Johnson
The Dallas Cowboys wasted little time this offseason before placing the franchise tag on wide receiver George Pickens, preventing him from becoming the most sought-after player in NFL free agency. While it’s expected to cause some drama this summer, it might not be the only risky move Dallas makes with the All-Pro offensive weapon.
NFL reporter Jason La Canfora shared that the sense he gets from around the league is that Dallas has no plans on signing Pickens to a contract extension. Instead, the club would franchise tag him for the second consecutive year in 2027.
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It certainly seems risky for Dallas. Pickens will be making $27.298 million fully guaranteed this season, which ranks 15th among wide receiver salaries in 2026. If the Cowboys tagged him again next offseason, Pickens would make nearly $33 million fully guaranteed.
The team would effectively be signing him to a two-year, $60 million contract that is fully guaranteed. A $30 million average annual value is reasonable for a wide receiver who earned second-team All-Pro honors in 2025. The risk, however, stems from the lack of leverage it gives Dallas long-term and what it could set up in consecutive training camps.
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Jerry Jones and the Cowboys front office are obviously very familiar with how contract negotiations and tagging a player can both create storylines and distractions during the summer. It seems to be something the organization embraces, since it brings extra attention to the franchise and keeps the team’s name in the news.
However, Pickens also has a history of some emotional volatility, and dragging out negotiations with him while he holds out throughout the summer can create long-term problems. It would seem to be even more foolish to do that twice, but clearly some inside the NFL believe that’s what the Cowboys are planning.
Then again, it could work out. Pickens would be locked into two fully guaranteed salaries through the 2027 NFL season, but he would still need to perform well so he could test NFL free agency in 2028. Plus, since Dallas wouldn’t use the franchise tag on him a third time, he would have a clear path to the open market while the Cowboys received two years of great production without making a riskier, long-term financial commitment.
