In a perfect world, the Dallas Cowboys have CeeDee Lamb and George Pickens paired at wide receiver for the next 5-7 years. Unfortunately, Jerry Jones and Co. are learning that there is nothing perfect about paying two wide receivers north of $30 million per year.
While Pickens will take $28 million to the bank on the franchise tag, $30 million per year will likely be the baseline for his next contract. By the time next March rolls around, Pickens could get top-of-the-market money.
Well, the New Orleans Saints just served up a fresh reminder that this may be Pickens' final season as a Cowboy. Per ESPN's Adam Schefter, the Saints signed Chris Olave to a four-year extension that carries a max value of $132 million and includes $90 million guaranteed.
Somewhere in Oxnard, Jerry Jones is frowning.
Cowboys hopes of keeping George Pickens take hit with Chris Olave's Saints extension
Olave has suffered a worrying number of concussions since being drafted, but he's exactly the type of player you don't think twice about paying. A former first-round pick, Olave's had exceptional production from Day 1, posting 1,042 receiving yards as a rookie before breaking out last season with a 100-1,163-9 line en route to being named a second-team All-Pro.
The scary part? Pickens has produced from the moment he stepped foot in the NFL, too. If we're talking ceilings, Pickens' is undoubtedly higher than Olave's. And that isn't to take anything away from the Saints' stud.
If you spread Pickens' career numbers over a 17-game season, he'd average 70 catches for 1,117 yards and five touchdowns. That's WR1 production. Pretty scary, considering how much he was held back by quarterback play in Pittsburgh and his own bad attitude. He's just hitting his stride, and he didn't even turn 25 until March.
If Pickens produces like he did in 2025 and keeps his head on straight, he'll absolutely surpass Olave's $33 million per year. For context, Lamb makes $34 million per year, which is the fifth-most among receivers, per Over The Cap. It's not crazy to think that Pickens will get more than Lamb on the open market. In fact, that should be the expectation.
Some teams will balk at investing that much into a guy with questionable maturity. However, the Colts handed out $28.5 million this offseason to Alec Pierce, who's never caught more than 47 passes in a season.
Seahawks star Jaxson Smith-Njigba recently got $42 million annually, while Drake London landed a $35 million-per-year deal from the Falcons. Assuming Pickens plays lights out again, his next contract could top $35 million annually and perhaps even approach $40 million.
As much as the Cowboys appreciate Pickens, they aren't paying him that kind of money.
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