With the Dallas Cowboys' disappointing 2025 season now officially at an end, Jerry Jones now faces one of his most critical offseasons in recent memory, as he and the rest of the front office have a lot of decisions to make over the next few months regarding the roster.
As America's Team ranked 30th in the NFL in total yards allowed per game (377.0) and dead last in points allowed per game (30.1), the big focus in free agency and the draft obviously needs to be on the defensive side of the football.
That said, however, the reason the Cowboys were able to get the seven wins they did was because the offense carried the load, ranking second in total yards (391.9) and seventh in scoring (27.7). And one of the biggest contributors to that offensive attack, of course, is the one who will command the biggest paycheck this offseason, that being none other than wide receiver George Pickens, who's set to become an unrestricted free agent for the first time in his career.
Well, that may not actually be true. The Cowboys, of course, have the option of signing him to a multiyear extension once the new League Year begins on March 11. However, they also have the option to keep him around for another season on the franchise tag, which could conceivably save them a couple of million dollars for the 2026 season.
The Cowboys could save at least $2.5 million in 2026 by placing the franchise tag on George Pickens
Acquired in a trade with the Pittsburgh Steelers in early May, Pickens was phenomenal for Dallas during the 2025 season, ranking eighth in the NFL in receptions (93), third in receiving yards (1,429), sixth in yards per reception (15.4), and tied for eighth in receiving touchdowns (nine) en route to earning his first trip to the Pro Bowl.
Sure, CeeDee Lamb being sidelined for a few weeks helped, but this was still a monster campaign. Some were concerned about Pickens' behavioral issues in Pittsburgh, but outside of a few minor incidents in which he appeared to check out, he was seemingly a model teammate for most of the season, which is why Dak Prescott, Brian Schottenheimer, and even Jerry Jones himself have all expressed desire to bring him back.
According to Spotrac, Pickens' market value could see him land a four-year deal worth $122,425,436, making his average annual salary a robust $30,606,359 per season, which would make him the seventh-highest-paid receiver in the league.
According to Over The Cap, however, the projected franchise tag figure for a wide receiver for the 2026 season is $28,046,000.
In the tag scenario, the Cowboys obviously save more than $2.5 million. And if Pickens' behavioral problems resurface or his 2025 campaign simply turns out to be an absolute fluke, they're not on the hook for big-time dollars for multiple years they don't want.
Teams can start tagging players on February 17 and can do so until 4:00 p.m. Eastern on March 3. So, this is a decision the Cowboys will have to make before free agency ever begins.
Now, all of this is contingent on Dallas having enough salary cap space to keep Pickens, as the team is currently about $33 million above the projected 2026 cap number. But as everyone knows, contracts can (and will) be restructured to create space. So, if the Cowboys actually want to keep Pickens, they will. And if they don't, Jerry Jones has obviously done worse things to hurt this franchise.