This offseason marks a third straight year of contract drama for the Dallas Cowboys. It started with CeeDee Lamb and Dak Prescott back in 2024. It carried into Micah Parsons’ last year before that situation ended in a trade. And now, it’s playing out again with wide receiver George Pickens.

After a breakout season in Dallas, Pickens is set to play the 2026 season on the franchise tag. A long-term deal felt like the natural next step. But executive vice president Stephen Jones shut that down, confirming there won’t be an extension this offseason.

“I think we’ve made a decision that we’re going to have George play under the franchise tag, which won’t be a first for us,” Jones said during the pre-draft pressers. “So, there won’t be negotiations on a long-term deal. But you know, that’s certainly not first for this organization and certainly won’t be a first in the league in terms of this decision as we move forward.”

Indeed! The Cowboys have used the franchise tag multiple times since 2018 without handing out an extension in the same offseason. Some players, like Prescott and Lamb, eventually secured long-term deals. Others, including Dalton Schultz and Tony Pollard, moved on the following year.

Pickens now sits somewhere in the middle. Acquired in a trade from the Pittsburgh Steelers after the 2025 NFL Draft, he delivered the best season of his career with 1,429 yards and nine touchdowns on 93 receptions across 17 games.

That production made a long-term deal feel inevitable. Instead, Dallas chose the tag, raising the question of why the team is holding off. Jones pointed to multiple factors, including roster construction and timing.

“Let’s start with the fact that it’s not easy,” Jones said, “having two receivers being paid top of the market. That’s obviously a stretch, especially on your team, a quarterback that’s been here, being the highest-paid in this league for many years now. That’s part of it.

“The other thing is the newness of George being here. I think George has just done an amazing job. He’s exceeded all expectations. I think anybody, or we wouldn’t have gotten him for a third-round pick. So, that’s a plus, and a lot of these things make their way toward a long-term deal, but that’s the biggest part of it between the business and the newness of it.”

A couple of years ago, Lamb went through a similar situation after his 2023 season, when he posted 1,749 yards and 12 touchdowns on 135 receptions. With his fifth-year option already exercised, he held out through the offseason program before eventually signing a four-year, $136 million deal.

Pickens’ situation mirrors that in some ways, but not entirely. He’s coming off a career year and is likely aiming for a top-tier receiver contract. The difference is that Dallas has already made its stance clear this time.

Which naturally makes you wonder: Can Pickens hold out for the offseason program? Perhaps. But when Jones was asked about it, the Cowboys’ EVP admitted that he has “no assurance, just like there’s no assurance on other players.” That’s where Todd Archer comes in. He noted that, in theory, Pickens could sit out until Week 10 of the regular season and still earn an accrued season.

“If he chooses, George Pickens could sit out until Week 10 of the regular season in order to gain an accredited year and hit free agency in 2027. Not sure that would be the best move for him, but it is possible,” Archer wrote.

All of that makes this another offseason to watch in Dallas. The 2024 situation eventually got resolved, while 2025 took a different turn. What happens this time will unfold soon, especially with the 2026 NFL Draft approaching and trade rumors already surrounding the Cowboys.

The Cowboys are rumored to trade up in the first round this week

It’s evident that the Cowboys still have defensive needs despite a busy offseason. On paper, Dallas holds the No. 12 and No. 20 picks in the first round. But the possibility of moving up for a top defensive prospect is very much in play. Peter Schrager believes the Cowboys could even make a push to No. 3 for Arvell Reese.

“I have heard talk that they might be one of the teams that’s moving up all the way to three if Arvell Reese is on the board and the Cardinals are willing to trade back,” Schrager said. “So, the Cowboys become a really interesting team in this draft.”

The Kansas City Chiefs are another team linked to a potential move up to No. 3. That makes it worth watching whether Dallas would be willing to give up the necessary compensation to land Reese.

For context, Adam Schefter recently reported that the Cowboys are “nowhere” on a new deal with George Pickens. Stephen Jones has since confirmed there won’t be negotiations on a long-term extension this offseason. That decision keeps options open, including the possibility of involving Pickens in trade discussions.

Jones has also noted how difficult it is to commit major money to another receiver with a top-paid quarterback and an already high-priced wideout on the roster. With the draft just hours away, the focus now shifts to whether Dallas makes a move in the first round. And if it does, whether Pickens becomes part of that equation.