Cowboys Expected to Franchise Tag George Pickens After Breakout Season-Now Comes the Hard Part
Here we go again in Dallas.
The Cowboys are staring down another high-stakes contract standoff, this time with wide receiver George Pickens-coming off the best year of his young career and represented by agent David Mulugheta, whose name is no stranger to Cowboys front-office negotiations.
According to reports, Dallas is expected to use the franchise tag on Pickens, effectively preventing the 24-year-old from hitting free agency on March 11. The move would keep him in Dallas for at least one more season, but it also sets the stage for a potentially tense negotiation over his long-term future.
A Trade That Paid Off-Quickly
Dallas acquired Pickens in May 2025 via trade with the Pittsburgh Steelers, sending a 2026 third-round pick and a 2027 fifth-rounder in exchange for Pickens and a sixth-round pick in 2027. At the time, the move raised eyebrows, but it’s safe to say it’s aged well for the Cowboys.
Pickens delivered in a big way. He posted career highs across the board-93 receptions, 1,429 yards, and nine touchdowns-earning second-team All-Pro honors and becoming a go-to target in the Cowboys’ offense. He didn’t just fit into the system; he elevated it.
The Franchise Tag Numbers Game
The expected franchise tag for wide receivers this offseason is around $28 million. That’s a massive leap from Pickens’ career earnings of $6.7 million, but still well short of the top-tier receiver market, which now hovers around $40 million annually.
If the Cowboys apply the non-exclusive tag-a likely scenario-other teams could still make a run at Pickens by submitting an offer sheet. Dallas would then have the right to match or receive two first-round picks as compensation if they let him walk. But in today’s NFL, that kind of price tag often scares off suitors, making the tag a powerful tool for keeping top talent in place, at least temporarily.
A Familiar Clock Starts Ticking
Once tagged, the Cowboys and Pickens would have until July 15 to hammer out a long-term deal. After that, league rules prohibit any multi-year agreement until after the 2026 season.
That deadline adds pressure for both sides. Pickens, who isn’t under contract until he signs the tender, could choose to sit out offseason workouts, training camp, and even the preseason without financial penalty. He can still show up just before Week 1, sign the tag, and collect the full $28 million.
But what happens after July 15 is where things could get interesting. Even though a long-term deal would be off the table for 2026, Pickens could still make a statement-by holding out or showing up late-to push for leverage heading into 2027. That’s the risk the Cowboys run by tagging him without a long-term plan in place.
The Long-Term Chess Match
If Pickens plays out 2026 on the tag, he’d be in line for a second franchise tag in 2027-this time with a 20% raise, bringing the total to $33.6 million. That’s a hefty price, but not unheard of for elite wideouts. The question is whether Dallas wants to go year-to-year with one of its most dynamic offensive weapons, especially given the ripple effects on roster planning and cap space.
There’s also history to consider. Last year, another Mulugheta client-Micah Parsons-ended up in a messy contract dispute with the Cowboys that ultimately led to a trade in late August. While that kind of outcome seems unlikely here (especially since any team trading for Pickens after July 15 wouldn’t be able to sign him to a long-term deal), the potential for tension is real.
And if Cowboys owner Jerry Jones tries to bypass Mulugheta and deal directly with Pickens? That could add another layer of friction to an already delicate situation.
What Comes Next
For now, the Cowboys hold the cards with the franchise tag. But George Pickens has shown he’s worth building around-not just tagging and testing.
His breakout season wasn’t a fluke; it was a statement. And if Dallas wants to keep him happy, productive, and in silver and blue for the long haul, they’ll need to do more than just slap a tag on him.
The clock is ticking toward July 15. And in Dallas, the offseason drama is just getting started.