Latest news is another reminder of why George Pickens is in no rush to sign a long-term deal with the Cowboys
The wide receiver market keeps going up while the Dallas Cowboys and George Pickens wait to start contract talks.
The Dallas Cowboys and wide receiver George Pickens may not be in contract talks just yet, but that doesn’t mean the game of negotiating isn’t already underway.
While the Cowboys wait to extend Pickens, who they franchise tagged earlier in the year, his price continues to go up. On Monday, news broke on the WR market that serves as a reminder of why Pickens is not in a rush to strike a deal.
New market-high for wide receivers
The Seattle Seahawks reached a four-year contract extension with WR Jaxon Smith-Njigba, according to ESPN’s Adam Schefter. The new contract is worth $168.6 million, which makes Smith-Njigba the highest-paid receiver ever at $42.2 million per year.
Smith-Njigba was named Offensive Player of the Year for the 2025 season and was one of only three wide receivers to receive more All-Pro votes than Pickens.
Smith-Njigba’s contract impact on Pickens
While Pickens isn’t expected to become the highest-paid receiver in the NFL, Smith-Njigba’s extension means there are now two wide receivers making over $40 million per year—Smith-Njigba and Ja’Marr Chase.
The higher the ceiling, the higher the landing spot will be for Pickens.
Additionally, the Los Angeles Rams and Puka Nacua are expected to work out a deal at some point in the offseason.
This is to say, Pickens may want to stay in Dallas but he and his agent, David Mulugheta, know this is what leverage looks like. The more they wait, the higher the market will be for him if he ever hits the open market.
The Cowboys may control his 2026 fate through the tag, which they could re-apply in 2027. But as long as Pickens keeps balling out, patience should pay off for Pickens like it has for other players the Cowboys have dragged out negotiations with, including CeeDee Lamb and Dak Prescott.
Back-to-back tags would mean an average value of $30 million for Pickens, which is more lower than the current market record. However, a long-term contract would provide valuable cap flexibility and added security for everyone involved. How much is that worth in the Cowboys and Pickens’ eyes?
Time will tell, but expect it to land somewhere in the middle.
The Cowboys and Pickens have until July 15 to reach a multi-year contract extension. Otherwise, Pickens will be forced to play on the tag in 2026.