The Timing of George Pickens Signing Franchise Tag With Cowboys Adds Intrigue to NFL Draft

George Pickens is officially signing the franchise tag on Thursday, locking himself into a one-year deal worth around $27.3 million with the Cowboys for the 2026 season. Dallas’s front office has made clear that a long-term contract for Pickens was not in the cards this offseason, though the team has maintained that it wants to keep him in Dallas.

Pickens had until July 15 to sign the franchise tag, so the timing of the deal is certainly eye-opening. Pickens put pen to paper on the franchise tender just hours before the NFL draft commences on Thursday evening. Per NFL rules, a player who has not yet signed the franchise tender cannot be traded. Because Pickens has officially signed it, he can now be traded at any time.

The Cowboys have been one of the teams that has been reportedly looking to move up in the first round of the draft. Now, they’ve added a significant bargaining chip to their arsenal, which also includes the Nos. 12 and 20 picks in the first round. It’s possible they could float Pickens as a potential piece in a blockbuster deal to secure an earlier first-round pick.

Of course, this doesn’t necessarily signal that Pickens will be traded. Speaking on the NFL Network ahead of Thursday’s draft, insider Ian Rapoport said, “Yes, the Cowboys are able to trade him after he signs [the franchise tender]. My understanding, though, as of right now, the Cowboys have no plans to trade George Pickens.”

But why would Dallas even consider trading its star receiver coming off a career year?

To put it simply, keeping Pickens will be expensive. After signing his franchise tender, Pickens is locked into a fully-guaranteed one-year, $27.3 million deal, and is officially set to be a free agent in 2027. The Cowboys may try to work out a long-term deal with him before he hits the open market, but with significant money tied up to other key players, particularly on offense, the organization may feel that money is better utilized elsewhere.

Prior to Pickens getting tagged by the Cowboys, he was projected to receive a four-year contract that would pay him more than $30 million per season. Dallas is already paying CeeDee Lamb $34 million per year through the 2028 season. Signing Pickens long-term would result in them paying their star receiving tandem nearly $70 million annually. That’s a hefty investment in the position, especially considering the team’s glaring needs on defense.

Instead of making such a significant financial commitment to Pickens, Dallas could potentially turn and try to offload him at the draft and select his replacement in the first round on Thursday night. This year’s draft class has several standout receivers, such as Jordyn Tyson, Denzel Boston, Carnell Tate and Makai Lemon, all of whom would earn significantly less than Pickens throughout the duration of their rookie contracts.

This isn’t a clear sign that Pickens’ days in Dallas are numbered, or that a draft day trade is in the works, but the Cowboys opened up some flexibility in trade negotiations by getting the franchise tender signed ahead of the draft. Anything can happen at the draft––the busiest day of the NFL offseason, and now the opportunity for Pickens to be shopped as trade bait exists, which wasn’t the case merely a few hours earlier.

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