6:30pm: The news that Pickens will sign his tag comes after Stephen and Jerry Jones “prolonged an olive branch” to agent David Mulugheta (per Rapoport). Pickens’ situation was discussed, even though it stays to be seen what his future awaits. NFL Network’s Jane Slater adds no trade talks have taken place yet, pointing to no major developments for at the least tonight.
5:03pm: The Cowboys is not going to negotiate a long-term extension with wide receiver George Pickens, but he’s now in position to play next season under the franchise tag. Pickens is signing his $27.3MM franchise tender, Ian Rapoport of NFL Network reports.
This move could keep Pickens in Dallas in 2026, however it also makes him eligible for a trade. As of April 14, the Cowboys had not received any trade calls for Pickens. Perhaps that can change during or after the draft. If Pickens continues to be a Cowboy when mandatory minicamp and training camp kick off over the summer, he will likely be subject to fines if he doesn’t report.
As things stand, Pickens is the primary NFLer in line to play under the tag since Bengals receiver Tee Higgins did so in 2024. Higgins went on to attain a four-year, $115MM extension with the Bengals in March 2025. Pickens can have angled for an identical payday with the Cowboys this offseason, but executive vp Stephen Jones shot down the potential for an extension on Wednesday. If Pickens stays in Dallas, he’ll turn into the fifth Cowboy to play under the tag in an eight-year span, joining DeMarcus Lawrence (2018), Dak Prescott (2020), Dalton Schultz (2022) and Tony Pollard (2023).
Pickens was a post-draft addition last yr for the Cowboys, who acquired him and a 2027 sixth-round pick from the Steelers for a 2026 third-rounder and a 2027 fifth-rounder. The move worked out beautifully for Dallas, which saw Pickens’ production go from solid to great. After the previous second-rounder averaged roughly 16 games, 59 grabs, 947 yards and 4 touchdowns per yr during his three seasons as a Steeler, he hauled in 93 receptions, 1,429 yards and nine TDs over 17 contests in 2025. Pickens ranked top 10 within the league in all three categories.
Barring one other post-draft trade, the 25-year-old Pickens should proceed forming an elite receiver tandem with CeeDee Lamb in 2026. The Cowboys authorized a four-year, $136MM extension for Lamb in August 2024, but they’ve not been willing to log out on a second huge contract on the position. With one other excellent season, Pickens could join Lamb among the many league’s highest-paid receivers next spring.