The Dallas Cowboys already have one of the highest-paid wide receivers in the NFL. CeeDee Lamb is playing on a four-year contract that pays him $34 million a year. Despite this massive investment, the Cowboys made the decision to place the franchise tag on wide receiver George Pickens this off-season. This move guarantees that he will make $27.3 million in 2026.
Of course, Dallas would love to keep Pickens around long-term beyond the upcoming season. However, he emerged as one of the league’s best wide receivers in 2026, meaning that his price is going to be steep.
And based on the contract that Jaxon Smith-Njigba just signed with the Seattle Seahawks, the Cowboys will not be able to afford him.
The Dallas Cowboys would need to pay George Pickens over $35 million a year
Dallas Cowboys, George Pickens, NFL
Nov 27, 2025; Arlington, Texas, USA; Dallas Cowboys wide receiver George Pickens (3) celebrates by eating turkey after the game against the Kansas City Chiefs at AT&T Stadium. Mandatory Credit: Kevin Jairaj-Imagn Images
Earlier today, it was reported that Smith-Njigba signed a four-year $168.8 million contract extension with Seattle. His $42.2 million annual salary is the highest in NFL history for a non-quarterback. Indeed, it was a market-changing signing, one that will affect contract negotiations for wide receivers for years to come.
And that may begin with long-term negotiations between Pickens and the Cowboys.
According to KD Drummond of Cowboys Wire, Dallas should expect Pickens’ new asking price on a contract extension to be somewhere in the ballpark of $35 million:
“The negotiation floor is likely $30.3 million based on the tag precedent. The ceiling of being ‘94% as good as Smith-Njigba’ is $39.6 million. The median point of $34.95 million is an evolution that makes sense after paying Lamb $34 million two seasons ago.”
In other words, Cowboys fans should anticipate Pickens asking for close to $35 million a year on his next contract with Dallas, nearly $1 million more per season than Lamb is making. Along with the $34 million a year Lamb makes and Dak Prescott’s $60 million annual salary, this would mean Dallas would be paying three players $129 million a year, well over one-third of their salary cap.
That is just not feasible for the Cowboys if they want to field a Super Bowl contending team. They can keep on tagging Pickens for a while, but how long will be continue to play on the tag before holding out and forcing a trade?
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