The Dallas Cowboys are heading toward the trade deadline with a problem that can’t be ignored: they simply don’t have much draft capital to work with.
Jerry Jones has spent plenty of picks in recent years, and that leaves Dallas with just four picks in next year’s draft. The Cowboys do have six selections in the 2028 NFL Draft, but they’re missing their second-rounder there, too. And as always, teams tend to value picks that are closer at hand.
That shortage is why The Athletic’s Jonathan Jones believes Dallas could have a “difficult” time getting something done before the deadline. He also floated a less common route for the Cowboys: a player-for-player swap instead of the usual player-for-pick deal.
"Jerry Jones is always down to make a deal, but sources there think a pick-for-player trade would be difficult considering what Dallas has left," Jones said on Saturday. "Player-for-player trades have always been rare in the league, but if Dallas acquires help, maybe that’s their method."
Even so, Jones has not sounded like a man locked into making a move no matter what. He’s still open to a trade, but he also said it’s "unlikely we'll get the opportunity from outside coming in."
And after the wave of blockbuster deals around the league, Jones said he isn’t feeling any extra pressure, adding that "it would have to be a dynamic situation to give up (draft) picks."
That could just be Jones doing what front-office veterans do this time of year, but it also fits the reality Dallas is facing. A trade only happens if the other side is willing, and the price has to make sense. Jones also has to decide how much more he wants to invest in this roster if the move doesn’t truly fix the bigger issues.
The catch with a player-for-player deal is that Dallas probably wouldn’t land the kind of impact addition it really needs without giving up one of its own better players. And that’s where the conversation gets tricky.
George Pickens is the name that jumps out immediately. He’s the most valuable player on the roster who could also be considered available. Pickens is on the franchise tag, meaning he’s set to be a free agent again in 2027 unless the Cowboys tag him or extend him.
The source here is clear: a long-term extension for Pickens is not viewed as a serious path, because paying top dollar to two wide receivers would make it harder for Dallas to address other spots on the roster. If the Cowboys tag him again, he may not be eager to go along with that plan, which could create a holdout situation. And if they do use the tag again, the cost rises and all of that money would sit on the books for 2027, putting more strain on the cap.
Moving Pickens now would hurt the offense, but the article also points out that Dallas hasn’t exactly been thriving with him in the lineup anyway, largely because the defense has been so poor.
Still, a Pickens trade during the season is viewed as highly unlikely. If Dallas makes a major move, the expectation is that it would involve the Cowboys sending out more draft capital, perhaps with a lesser player included to make the deal work.
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