The Cowboys ensured their time with George Pickens would last more than one year when they used the franchise tag on him in March.
A second season with him might be their last, however. Dallas' leadership revealed it will not work on a multiyear extension with Pickens ahead of the July 15 deadline to do so and is content with having the receiver play on the one-year franchise tag. Pickens would earn $27.3 million in 2026 playing on the nonexclusive tag.
"We've made a decision that we're going to have George Pickens play under the franchise tag, which won't be a first for us. So there won't be negotiations on a long-term deal," Cowboys executive vice president Stephen Jones told reporters Wednesday. "That's certainly not a first for this organization and certainly won't be a first in the league in terms of this decision as we move forward. Whether it's Dak Prescott, who played under one and got tagged a second time, whether it's D-Law (edge rusher Demarcus Lawrence), whether it's (running back) Tony Pollard, we've certainly had those situations.
"We're fired up to have George on this football team. Obviously, he's been here for a year. We gave up a third-round pick. Certainly, he's made tremendous progress in the year that he's been here. I think he'd be the first to tell you that this is a great situation for him, playing with (receiver) CeeDee (Lamb) and Dak and coach (Brian) Schottenheimer's offense. I think he loves coach Schottenheimer and what he brings to the table. But certainly, a conscious decision that we'd make."
Essentially, the Cowboys are admitting they're not yet certain Pickens is worth a long-term investment, a conclusion they're well within their rights to reach after just one season with the mercurial receiver. It's isn't a decision made without risk, however. If Pickens posts another excellent season similar to the career-best 93-catch, 1,429-yard, nine-touchdown campaign he logged in 2025, the price for his services will only increase.
It's a risk the Cowboys have historically been willing to take, as demonstrated by how they handled the aforementioned situations with Prescott and Lawrence. Neither resulted in a dramatically different cost in terms of average annual salary, but player health -- Prescott suffered a season-ending injury while playing on the tag in 2020 -- also plays a role in determining market value.
"There's different scenarios that these guys play under," Schottenheimer said. "They love the football game, the game of football. George is no different. We're thrilled that George is here and we expect him to have another great year. He was a huge part of the success that we had last year, and that's not gonna change."
The Cowboys admitted financial factors are playing a significant part in their decision to have Pickens play 2026 on the tag, which the wideout has yet to sign. They need only to gaze over at the Cincinnati Bengals to see how having two handsomely compensated receivers -- Ja'Marr Chaseand Tee Higgins-- can affect the rest of the team's construction.
After trudging through a season in which their defense proved to be their downfall, the Cowboys aren't interested in handcuffing themselves financially in 2026.
"It's not easy having two receivers being paid top of the market," Jones said. "That's obviously a stretch, especially when you have other great players on your team, a quarterback that's been here being the highest-paid player in this league for many years now. Certainly, that's part of it. The other thing is the newness of George being here. I think George has just done an amazing job. He's exceeded all expectations. ... So that's a plus.
"A lot of these things, they make their way toward a long-term deal, but that's the biggest part of it. Between the business and the newness of it, I think that's a big part of it."
With two picks in the top 20 of this week's draft, the Cowboys could also find their long-term (and much more affordable) replacement for Pickens. Spending a first-rounder on a position that isn't quite a need -- especially when the defense is begging for more reinforcements -- would be another risky play, but it worked out for them in the past when they drafted Lamb while Amari Cooper was on the roster.
"That's all part of a global picture. ... Certainly, you're always looking at that," Jones said of potentially selecting a receiver in the 2026 draft. "It's just like we did when we took CeeDee Lamb. We had some really good receivers on this team, but we took him.
"Certainly, it'd be no different if we look at the board and our number gets called to pick and we'll make that decision at that point. But we're certainly not opposed to taking the best player on our board. That's usually where we've had our most success is doing that."
As is almost always the case, the Cowboys remain a subject of fascination. They could become an even more compelling franchise this weekend.
