The Dallas Cowboys and NFL All-Pro George Pickens appear to be on the same page when it comes to 2026 — he’ll either play on the $27.3 million franchise tag or be traded and get a long-term extension elsewhere.
For now, though, it seems like Pickens and the Cowboys are simpatico.
“Cowboys WR George Pickens is now under contract for one year and $27.3M fully guaranteed,” NFL Network Ian Rapoport wrote on his official X account on Thursday. “He’ll play it out with the chance to cash in during the 2027 offseason.”
Pickens had career highs of 93 receptions for 1,249 yards and 9 touchdowns in 2025 after the Pittsburgh Steelers traded him to the Cowboys for a 3rd round pick in May 2025.
“Cowboys WR George Pickens signing his franchise tag would mean he’s allowed to now be traded at anytime,” The 33rd Team’s Ari Meirov wrote on his official X account. “Not saying it will happen. But it now could happen as early as tonight.”
Jones Sent ‘Olive Branch’ to Pickens’ Agent
It’s hard not to see a connection between Pickens signing his franchise tag and news that broke just hours earlier that Cowboys owner Jerry Jones and Pickens’ agent, David Mulugheta, had a productive conversation about Pickens’ future.
“Sources: The Cowboys extended an olive branch to agent David Mulugheta of Athletes First, as owner Jerry Jones and COO Stephen Jones called him with both on the phone to discuss franchise-tagged WR George Pickens’ future,” NFL Network’s Ian Rapoport wrote on his official X account on Thursday. “The call was professional and cordial.”
Professional and cordial is a step in the right direction, because that hasn’t always been the status quo for Jones and Mulugheta when they interact.
Jerry Jones Called ‘Liar’ After Parsons Trade
Mulugheta went on ESPN’s “First Take” on September 2 — less than one week after Micah Parsons was traded to the Green Bay Packers — and hit back at claims by the Cowboys and Jones that a deal had been negotiated and agreed to separate from Mulugheta — and that it was Mulugheta who reneged on the deal.
“Micah got a call from Jerry’s assistant that he was being asked to come in and talk about leadership (with Jones),” Mulugheta said. “So the meeting was represented to Micah that it was going to be a talk about leadership that turned into a talk about his contract. So there’s a 25-year-old sitting in a room with his boss, the most powerful man in the NFL, who is telling him he wants to talk about his contract so he’s sitting there and nodding because what’s he supposed to do? There’s a power dynamic there that also needs to be addressed … but at no point did Micah believe he was negotiating a contract.”
Were Pickens to hit the open market, he’s got an astronomical upside in terms of a contract extension. Spotrac projects his market value as a 4-year, $122 million contract that would pay him approximately $30.6 million per season — Pickens should actually command something closer to $35 million per season.
Cowboys WR George Pickens Makes Final Decision on Signing Franchise Tag