Signs point toward the Dallas Cowboys placing the franchise tag on Pro Bowl wide receiver George Pickens. That doesn't mean he'll be part of the team's plans moving forward, though, with speculation of a trade percolating nationally.
While the Cowboys may be reluctant to meet Pickens' lofty demands coming off a breakout campaign, the other options leave much to be desired. Among the potential alternatives is pivoting to Indianapolis Colts wideout Alec Pierce, the next-best pass-catcher set to become an unrestricted free agent in March.
However, recent intel from Spotrac's Michael Ginnitti suggests Dallas is much better off just sticking to their guns.
As the saying goes, for every action, there's an equal and opposite reaction. The one-year tender offer that's expected to come Pickens' way only drives up Pierce's price. That makes the idea of paying the former that much more enticing for the Cowboys.
Simple supply and demand ostensibly put Pierce's annual value "closer to $30 [million]" than his $20.2 million projected value, per Ginnitti. By the sound of it, there's a scenario in which he makes more money than Pickens in 2026. No disrespect, but that doesn't compute.
Colts WR Alec Pierce's soaring price ives the Dallas Cowboys more incentive to pay George Pickens
There are levels to this game. While Pierce is a talented player on the rise, he's yet to demonstrate the upside of a clear-cut alpha. Nevertheless, those are the type of expectations that would come with his potential cost.
Pierce is an explosive playmaker who's developed into a more well-rounded contributor. He's no longer a one-trick pony deep threat, and has positioned himself to earn a massive raise this offseason. Be that as it may, his upside isn't as high as Pickens, who exceeded 1,400 yards en route to All-Pro Second Team honors this season.
Meanwhile, Pickens showed the Cowboys he can function as the No. 1 option of a high-flying passing attack and then some in 2025. We saw him record 19 receptions for 359 yards and four touchdowns across three contests without fellow Dallas star receiver CeeDee Lamb. Albeit a limited sample size, his efforts sans the latter put everyone on notice.
To make matters worse, the Colts could feel inclined to follow in Dallas' presumed footsteps and prevent Pierce from hitting the open market. That would give the Cowboys one less viable non-Pickens option to pick from in the event they decide to go in a different direction.