For every day Jerry Jones waits on a new contract for George Pickens, the price goes up, and a new AFC contender with $40 million to spend is watching closely. The player has earned his way to the top of every receiving chart, emerging as a weapon for the Dallas Cowboys. Now, Pickens hunts for a massive payday as the final year of his rookie deal nears its end. In the process, an AFC rival team recently got a major 40 million update on GM Jerry Jones’ star player. 

According to ESPN’s Jeremy Fowler, the Baltimore Ravens desperately need a true boundary receiver with about $40 million in cap space. They are looking for someone who can command the outside and provide support to quarterback Lamar Jackson. Fowler thinks Pickens could be the “big move” that finally improves the team’s passing game, but it won’t be that easy. There’s a strong possibility that Jones may use the franchise tag to keep him.

However, if the receiver hits the open market, the Ravens just received a major boost with a projected forty-million-dollar cap update for 2026, instantly changing their outlook at wide receiver. With that kind of room, Baltimore could make a real push for Cowboys star George Pickens if he hits free agency, especially with John Harbaugh’s track record of managing big personalities. Spotrac earlier projected that Pickens will land a contract with an average annual value of $31.25 million.

But now, his agent wouldn’t hesitate to ask $40 million or more once talks begin, per Pro Football Talk. Either way, the Ravens have enough money for his trade. At the moment, the Ravens offense is struggling despite Jackson being healthy, with the QB needing a high-quality receiver by his side.

The Ravens have spent most of this season searching for steadier production from their receivers, with the unit flashing potential but rarely taking over games when it matters. DeAndre Hopkins has been quieter than expected with just 2 TDs. Zay Flowers has carried more load than he should, racking up almost 900 yards but only showing 1 TD for it. The overall group has lacked a true game-tilting presence. This is where Pickens could come in.

The 24-year-old has been one of the most lethal pass catchers this year, powering many explosive passing attacks for the Cowboys. Even though critics stood skeptical of the team’s Week 14 loss to the Detroit Lions, his season stats tell a different story. With 78 catches, 1,179 yards, and eight touchdowns, he’s in the race to set records in the NFL. His chemistry with quarterback Dak Prescott and receiver CeeDee Lamb also shows that he’s a true team player. Now, the big question is whether the Ravens will really steal Pickens away, especially with Jones delaying his contract.

Jerry Jones stays vague about George’s future

Ever since George Pickens joined the Cowboys, talk about his future has been a burning topic for many. Folks wonder if the team will pay Pickens for what he’s worth or if he’ll end up out-earning Lamb, whose $136 million deal sets the bar. Surprisingly, Jerry Jones didn’t dismiss the possibility. 

“There’s nothing that we can gain from speculating and conjecturing,” he said. “The bottom line is that we’re in good shape, we’ve built a trade so that we could have potentially our options.”

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But despite the confidence in his voice, Jones hasn’t committed to anything yet. Many believe that this is part of his playbook. He openly praises his stars while pushing contract talks for as long as possible. Prescott and Lamb went through it, and the most recent being linebacker Micah Parsons. Now, it looks like Pickens is next in line.

Recent reports suggest the Cowboys are comfortable using the franchise tag on Pickens for 2026. It will cost around $28 million for one season. Or Jerry Jones could just offer him a contract extension and keep him locked for a longer period. But as of now, neither side has initiated extension talks, leaving his future hanging in the air.