Long before Dallas Cowboys wide receiver George Pickens showed up to the mandatory minicamps and put an end to the holdout rumors, Jerry Jones and the front office had already clarified that a long-term extension wasn’t in the cards for him. All he gets for 2026 is a franchise tag worth $27.3 million fully guaranteed. But is that no-extension limit temporary, or permanent? NFL Insider Ian Rapoport answered that on The Pat McAfee Show, and added a trade update.

“I do not expect a long-term deal this year,” Rapoport said. “If he plays well and does everything he did last year, I think next offseason he’ll be able to cash in and be one of the highest-paid receivers in the NFL. I don’t believe they’re going to trade him. I think they just wanted to see more in one more year.”

After Pickens posted career-best numbers last season (93 catches, 1,429 yards, 9 touchdowns), Cowboys EVP and co-owner Stephen Jones made it pretty clear that Dallas wasn’t going to trade Pickens away, with Jerry Jones doubling down on keeping Pickens in Dallas.

“We want Pickens here. We think the world of him,” Jones said. “Want him here. Love him, and I think he wants to be here. So all that’s a plus. We’ve had people play under the tag, and we’ve made deals with people that have a tag. It can go either way. We’ll continue to really analyze the situation and see what’s next.”

After all, the WR’s 2025 performance helped Dallas build the league’s second-best offense. And now, Pickens needs to run it back.

Last season, with CeeDee Lamb missing games due to injuries, Pickens lined up in the slot for 80 snaps (8.2%). Offensive coordinator Klayton Adams wants more of that from Pickens this year, and noted that “year two is a good opportunity to force the issue on some of those things.” If Pickens delivers and proves last season wasn’t a one-off, a big check arrives for him in 2027.

Right now, Spotrac projects George Pickens’ market value at 4 years, $122.4M deal, averaging $30.6M annually. But if you go by Rapoport’s prediction, that number can go higher.

Seattle Seahawks’ Jaxon Smith-Njigba reset the wide receiver market this offseason with his four-year, $168.6M deal, averaging $42.5m yearly. In the list of the highest-paid wide receivers, Pickens’ $27.298 million deal places him 17th. Interestingly, CeeDee Lamb lands 5th on that list with $34M a year.

Cowboys owner/general manager Jerry Jones has a track record of waiting till the last second to sign his stars. Jerry gets his headlines that way, but the market keeps climbing with every new deal. If he plays the usual games, that check is going to get that much bigger. And Pickens is already laying the groundwork for that at the mandatory minicamp, while also saying the contract talks are of no consequence at all.

“What’s more important to me is winning,” Pickens said on Day 1 minicamps (June 16). “Like I said from the beginning, I always wanna bring a Super Bowl to a group of guys that never had that feeling. That’s really the most important to me.”

Despite that optimism, the Cowboys are opting to keep their $27.3M investment safe. Head coach Brian Schottenheimer made that very clear on Day 1.

“Really great visits with George,” Schottenheimer said. “Fired up to have him back, he’s fired up to be here. He’ll do all the mock, he’ll do all the individual, and we’ll just keep him out of the team, just let him watch. He’ll be coach Pickens today during the team period.”

George Pickens’ 2027 market doesn’t exist yet. Smith-Njigba’s contract sets the floor, and the ceiling entirely depends on how Pickens’ season turns out. He has a competitive offense around him, and the defense looks fixed at last, too. All that’s left for GP3 is to ball out and get that contract next offseason.