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Breaking: Cowboys To Commit Nearly $30 Million To One Player In 2026 (Report)

The Dallas Cowboys are going into the 2026 off-season with more questions then answers. While their offense continues to prove they’re one of the best in the league, the defense seemed to be their Achilles heel. With news that the offense could be losing their starting running back, the team has seemingly decided to invest their money in a different offensive position.

Nov 23, 2025; Arlington, Texas, USA; Dallas Cowboys head coach Brian Schottenheimer looks on before the game against the Philadelphia Eagles at AT&T Stadium. Mandatory Credit: Kevin Jairaj-Imagn Images

Cowboys Set to Franchise Tag George Pickens: $28M-$29M Tender Expected Before March 3 Deadline

The Dallas Cowboys appear to have made their final call on George Pickens’ short-term future, opting for the franchise tag to retain the star wide receiver for the 2026 season.

In a piece published Monday (February 16, 2026), ESPN’s Todd Archer reported that it is now a “certainty” Dallas will place the non-exclusive franchise tag on Pickens before the NFL’s March 3 deadline at 4 p.m. ET. The tag is projected to be worth approximately $28 million to $29 million for the 2026 season, based on the average of the top five receivers’ salaries (a figure that will be finalized after the 2025 season concludes).

Archer wrote:

“It is a certainty that the Cowboys will use the franchise tag, which is set to be worth around $28M-$29M, on Pickens before the deadline to do so arrives at 4 p.m. ET on March 3.”

This decision aligns with earlier comments from Cowboys owner and general manager Jerry Jones, who downplayed any potential negative impact on Pickens, stating he believed the tag “wouldn’t impact [Pickens] more at all than any other player.”

Pickens’ Likely Reaction and Negotiation Outlook

Nov 17, 2025; Paradise, Nevada, USA; Dallas Cowboys wide receiver George Pickens (3) runs after the catch against the Las Vegas Raiders defends during the second half at Allegiant Stadium. Mandatory Credit: Kirby Lee-Imagn Images

Pickens, 24, is not expected to be thrilled about the tag. While signing the tender immediately would guarantee him at least $28 million in 2026, Archer noted it’s “not likely he signs the tender immediately and gives up even his tiny bit of leverage on a long-term deal.”

The Cowboys have historically used the NFL Scouting Combine (held in Indianapolis in late February/early March) as a key negotiation window. Archer expects Dallas to meet with Pickens’ agents—Trevon Smith and David Mulugheta (from Athletes First)—on Jerry Jones’ luxury bus during the event to discuss both the tag and potential long-term extension.

Background on Pickens and Cowboys’ Situation

Pickens, acquired via trade from the Pittsburgh Steelers in the 2025 offseason, had a breakout year in Dallas: leading the team in receiving yards (1,429) and touchdowns (9) while forming a strong connection with QB Dak Prescott. The Cowboys view him as a cornerstone of their offense, but cap constraints (Dallas is projected over the cap entering 2026) make the tag a cost-effective way to retain him for one more year while working toward a multi-year deal.

If tagged and no long-term agreement is reached, Pickens could:

Sign the tender and play under it in 2026.

Hold out (risking fines and lost pay).

Or, in the non-exclusive tag scenario, sign an offer sheet with another team (Dallas would then have the right to match).

The franchise tag window opens February 18, 2026, with the deadline March 3—meaning a decision could come as early as next week.

Cowboys fans: Smart move to tag Pickens and buy time for a long-term deal, or risky given the cap crunch? Do you think he signs quickly or plays hardball? Share your thoughts below—combine week negotiations will be must-watch!