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The Dallas Cowboys have placed the franchise tag on wide receiver George Pickens. ESPN reported that it is the non-exclusive tag.
Pickens was originally acquired by the Cowboys last year following the NFL draft by way of a trade with the Pittsburgh Steelers. The most notable asset involved was Dallas’ third-round pick in the 2026 NFL Draft which they stand to potentially recoup (in terms of numerical value) should Pickens walk in free agency. This would be by way of a compensatory pick in 2027, but we now know that this will not be until next offseason at the earliest.
It is hard to deem Pickens’ inaugural season with the Cowboys as anything other than a smashing success. The team collectively missed the playoffs, but he was outstanding individually. Pickens led the Cowboys with 1,429 receiving yards and nine receiving touchdowns, and he notably stepped up when CeeDee Lamb was out due to injury.
The franchise tag value for wide receivers in 2026 is approximately $28M, and the franchise tag value is fully guaranteed. This means that Pickens is set to count ~$28M against the Cowboys’ 2026 salary cap at the moment. As is always the case, that number (whatever it officially winds up being) can be massaged and toyed with should the team reach a long-term deal with Pickens.
Prominent members of the Cowboys like Dak Prescott and CeeDee Lamb have advocated for the team to get a long-term deal done here, but doing things like that in a smooth and non-dramatic manner has not exactly been this front office’s forte in recent memory. There is also the ongoing situation with kicker Brandon Aubrey.
Dallas had until March 3rd to formally place the tag on Pickens or else he would have become an unrestricted free agent, so this is no real shock. It is a part of the process and now we will wait to see what the next turn in it is.