The “will he or won’t he” drama surrounding the unsigned franchise tag for Dallas Cowboys wide receiver and NFL All-Pro George Pickens appears to have finally come to an end.
According to ESPN’s Todd Archer, Pickens officially signed on Wednesday for the franchise tag, which will pay him approximately $27.2 million in 2026.
“George Pickens has signed the franchise tag, according to a source,” Archer wrote on his X account. “The signing of the tender guarantees Pickens $27.3 million for this season. It gives him injury protection as well. Yes, theoretically, it opens up the possibility of a trade, but Stephen Jones said the Cowboys have no intention of dealing him.”
Pickens’ actual signing of the franchise tag ends a week in which the mercurial wide receiver was thought to have signed the franchise tag 1 week ago, and left some of the most respected insiders in professional football with egg on their faces.
“What was expected last week now is official: George Pickens is now under contract,” ESPN’s Adam Schefter wrote on his official X account on Wednesday.
Confusion Started 1 Day Before NFL Draft
The confusion about whether or not Pickens had actually signed his franchise tag started on the eve of the 2026 NFL draft.
“Cowboys WR George Pickens is now under contract for one year and $27.3M fully guaranteed,” NFL Network Ian Rapoport wrote on his official X account on April 24. “He’ll play it out with the chance to cash in during the 2027 offseason.”
Pickens had career highs of 93 receptions for 1,249 yards and 9 touchdowns in 2025 after the Pittsburgh Steelers traded him to the Cowboys for a 3rd round pick in May 2025.
“Cowboys WR George Pickens signing his franchise tag would mean he’s allowed to now be traded at anytime,” The 33rd Team’s Ari Meirov wrote on his official X account. “Not saying it will happen. But it now could happen as early as tonight.”
It turned out Pickens hadn’t actually signed anything.
Drama Played Out With Report of Trade Demand
Schefter added the biggest component to the drama when he went on The Pat McAfee Show and said Pickens would demand a trade if he didn’t receive a long-term contract extension from the Cowboys.
The drama doubled down when it was revealed he hadn’t actually signed the franchise tag because he had “other things going on” during draft weekend.
“He wants a long-term contract or he would like a trade,” Schefter said ina. video clip that ESPN later deleted. “They have been very clear that they are not going to do a long-term contract. So, now, that leaves them in a position, both sides, that is a little bit unsettled at this current moment. George Pickens signed a tender, so he is now contractually obligated to be there.”
The Cowboys could register a major return on investment were they to trade Pickens. Dallas traded a 2026 3rd-round pick to the Pittsburgh Steelers before the 2025 season, and it would be fascinating to see what Pickens might garner if the Cowboys said they were open to listening to trade offers.
Because Pickens is just 25 years old and has a projected market value in the range of a 4-year, $122.4 million contract, it’s not outside the realm of possibility that he might garner back a high-level starter and a Day 2 draft pick in return. If the Cowboys want to continue to build for the future, there’s a good chance a team might be willing to give up a 1st round pick in exchange for Pickens.
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