Stephen A. Smith believes the Cowboys have already seen enough to know George Pickens is a trade chip, not a long-term investment.
On ESPN’s “First Take,” Smith made the case bluntly with the Nov. 10 trade deadline coming into focus: Dallas should move Pickens rather than commit the kind of money he is expected to command next.
His issue isn’t with Pickens’ talent. Smith has called him “a stud.”
The problem, in his view, is the price tag attached to keeping him alongside CeeDee Lamb. Pickens is playing 2026 on a fully guaranteed $27.3 million franchise tag after Dallas shut down long-term talks in April, and Spotrac projects his next deal at four years and $138.3 million.
“You have to trade him. Here's the reason why.
He's going to cost you at least $30 million, if not $36 million. You're talking about the combination of him and CeeDee Lamb costing you anywhere from $66 to $72 million.
And they have clearly shown you this year alone with the both of them being who they are, that it's not enough for the Dallas Cowboys to win football games. You have to ultimately adopt a winning formula.”
Smith’s math is aggressive, but the larger point is simple: Dallas is paying premium money at receiver and still isn’t getting premium results. Lamb averages $34 million on his four-year, $136 million extension, so a Pickens deal in the $30 million to $36 million range would put the duo somewhere between $64 million and $70 million.
Either way, the Cowboys’ record tells the story. They’re 3-5 after blowing a 24-10 fourth-quarter lead in a 33-30 overtime loss to Arizona.
Smith also pointed to the market as a reason Dallas should at least listen.
"We just saw the Chicago Bears, even though it was for a defensive tackle, give up two first round picks for Jeffery Simmons. The bottom line is that who knows what you can get for George Pickens. You have to entertain that if you are the Dallas Cowboys, since with him, you're still losing football games."
Dallas, though, has been steady about Pickens for months. Jerry Jones softened that stance a bit on October 21, saying a trade could be possible if the Cowboys received an offer on the level of what they got for Micah Parsons.
Stephen Jones, when asked if the team would consider selling before the deadline, kept the focus on the immediate schedule.
“Guys, we’re looking at getting better this week. We got a big game against the Colts and that’s what we’re focused on.”
Pickens has still produced. He ranks 15th in the NFL with 533 receiving yards.
But his role has not always matched his output. Against Arizona, he was targeted only four times, while Lamb saw 11 looks.
Brian Schottenheimer has also said he wants more from Pickens as a run blocker, and Dak Prescott didn’t offer much help in explaining the limited usage, saying, “If I had the answer, we'd get him involved.”
If Dallas does decide to deal him, the return would center on draft capital. The Cowboys already have four picks in the 2027 draft, including a first-rounder from the Parsons trade. Moving Pickens would also wipe out the $27.3 million tag and the larger extension that would follow, freeing up money that could be used on a Joey Porter Jr. extension.
The timing, though, shapes the market. Any team trading for Pickens now would have to wait until after the season to work out a new deal, which limits what Dallas can get back for him. A spring trade would be different: if the Cowboys tagged him again at more than $32 million and then moved him, the buying team could extend him first, and that would likely raise the price.
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