Once again, the Dallas Cowboys find themselves at a tough crossroads to keep a star player on the roster. And if Micah Parsons’ departure has taught them any lessons, they can’t be foolish enough to let go of George Pickens. While he is enjoying his first-ever Pro Bowl nod, Jerry Jones and Co. are wrestling with a difficult financial puzzle: how much are they willing to bend to keep Pickens onboard? Insiders believe Jones won’t spend a penny more than $28 million, and that creates a problem. 

“Fully expect Cowboys to franchise tag him for $28M,” Ed Werder, a veteran Dallas Cowboys reporter, predicted. “That is unlikely to please Pickens.”

Werder’s prediction came in response to a fan’s tweet suggesting that the Cowboys should prefer a non-exclusive franchise tag for Pickens. Let him analyze his market value and “choose to match or walk away with 2 firsts.” 

But Jones doesn’t have the reputation of being “soft,” and given the defense’s embarrassing situation and the luxurious contracts of CeeDee Lamb and Dak Prescott, Dallas’ options are limited. 

Pickens is set to become an unrestricted free agent, and if a long-term extension isn’t reached, the franchise tag seems to be the team’s primary leverage. This would secure him for one year at approximately $28.8 million. However, the context of the league’s current pay scale makes that number look small; there are already twelve receivers, including Dallas’ own Lamb, who earn more than $28 million annually.

And we’re talking about someone who is coming off his All-Pro breakout season featuring 93 catches and 1,429 yards. That’s why experts believe a fair market deal for Pickens would actually average more than $30 million per season. 

What’s even more concerning for Dallas is that the franchise tag option doesn’t amuse Pickens. Reports indicate that he might consider holding out from offseason activities or request a “tag-and-trade” deal. 

The young receiver dodged a direct answer when asked if he’s comfortable with the tag option. Though he noted that the ball is in the Cowboys’ court, he hinted that Jones can bend some more since he saved chunks of money on Parsons. 

“I can just wait on them; that’s all I can do, and chill with the guys,” Pickens remarked.

As of now, formal negotiations haven’t even started. “Not yet,” Pickens told reporters, explaining that he is letting the Pro Bowl festivities play out before returning to serious matters of his life. While he has publicly stated he would “love” to remain a Cowboy for years to come, he understands the business side is out of his hands. If it comes down to him, he’s ready to find common ground with Jones. 

Having already moved on from Parsons and witnessing the defense crumble since, Jones is under immense pressure to keep his offensive weapons intact. As if the franchise tag window of February 17–March 3 and cap constraints aren’t stressful enough, suitors like the Commanders, Ravens, and Broncos are waiting for a chance to persuade Pickens. 

Despite all the whispers and speculations, the front office remained tight-lipped. While the official word is “Cowboys want George to be back in Dallas,” Executive Vice President Stephen Jones declined to share specifics on the contract status at the Senior Bowl. Even their own players don’t know the particulars. 

Dak Prescott stood up for George Pickens

Dak Prescott seems prepared to apply some internal pressure if the front office moves too slowly. While he typically stays out of other players’ financial business, he made it clear to reporter Clarence Hill that he’s willing to get involved if necessary. Reason? Pickens’s massive role in Prescott’s success this year. The star quarterback knows that keeping his supporting cast together is the only way to chase a championship.

“The guy out here who doesn’t have a contract… he’s an important piece of this offense,” Prescott said, referring to Pickens. “Obviously, if I need to get involved—I’ve said it before—I will. But [I’m] confident in [Jerry Jones] and everybody who makes those decisions and how much he means to us.”

For Prescott, who turns 33 this summer, the window to win a Lombardi Trophy is shrinking, and losing an elite talent like Pickens would be a step in the wrong direction. Although the Cowboys’ financial reality doesn’t give them much room to negotiate (even if they want to), Prescott wants Jones and Co. to find a way because Pickens is a game-changer.