While there is some truth to the notion that the NFL salary cap something of a work of fiction, because of the way teams can kick owed money into the future with restructures and bonuses, it still does exist and does require a degree of constraint on how teams spend. One of the problems for the Cowboys is that, though they’ve been active in restructuring deals and moving money forward, they have not been very creative with how they’ve done those things, how they set up their contracts and how they make trades. That was on display during the George Pickens saga this winter.
We all know the details: Pickens was a free agent entering the offseason, coming off a breakout year in which he caught 93 passes and had 1,429 yards receiving, fourth-most on the Cowboys’ single-season record books. The Cowboys did not want to commit to Pickens, long-term, so put the franchise tag on him for one year and $27.3 million, frustrating the star WR’s desire for a long-term deal.
George Pickens’ Cowboys Contract Is at Full Value in 2026
Pickens eventually signed and will play on the tag. After skipping voluntary OTAs, there was drama as to whether Pickens would show up at mandatory minicamp. But he did, and the issue of his contract is now settled.
But the problem for the Cowboys is that a franchise tag has to be a flat payout–no bonuses, no trickery, no ways to soften the $27.3 million number. And Pickens will hit free agency again next offseason. Team VP Will McClay, appearing on the “Doin’ Alright” podcast was asked about the team’s approach to the contract.
Cowboys ‘Love George Pickens’
McClay defended the Cowboys’ approach: “At the end of the day, you have different opportunities to figure out how you put your team together. Public perception is, you should sign this guy and do that. But I don’t tell you how to run your checkbook and you don’t tell me how to run mine, or businesses. And so, really, everybody’s philosophy is a little bit different.
“And we love George Pickens. Finding a way to field a team with 53 of the best players in today’s day and age is very, very difficult. So you go through all of the the contracts and the different aspects and all those different ways and you put it together. That situation with George presented itself in such a way that we could do it that way and still keep our team together. That’s the best way I can put it.”
Approach Left Team With Limited Flexibility
McClay seems to be hinting at the long-term aspects with Pickens, and that maybe the Cowboys won’t keep him in Dallas beyond this year. Otherwise, not giving Pickens a long-term deal in which a big portion of the payout was put into a bonus and reduced his cap hit over the first two years did not do much to help the Cowboys with their team-building in 2026. What McClay said is just not true, in a 2026 context.
Had the Cowboys taken that approach they might have had more money to put toward a linebacker, where they were beat out on Quay Walker, Nakobe Dean and Devin Lloyd. It might have allowed a bigger investment at cornerback, or pass rusher. The Cowboys can, as McClay said, manage their checkbook however they like, but the franchise has five playoff wins in 30 years, so it’s fair to wonder whether the team should reconsider their methods.
But the Cowboys’ approach signals that either they did not trust Pickens to repeat his 2025 numbers and did not want to commit long-term to him until they see more, or that they’re not planning on retaining him past this season at all. Either way, the approach could be costly in the end.
Cowboys Exec Defends ‘Difficult’ Decision on George Pickens