UPDATE: Since the writing of this article, reports emerged indicating George Pickens is signing the franchise tag with the Dallas Cowboys. The moment he does, Pickens will be eligible to be traded, which carries huge implications on draft night.

On the heels of the Cowboys announcing they don’t intend to extend Pickens before the season, all signs point toward the star wide receiver being on trade watch. Pickens had no incentive to sign the tag on Thursday. He’s now eligible to be fined if he doesn’t show up to training camp, for example.

The fact that Pickens is signing it shows he and his camp are interested in the Cowboys seeking a trade, potentially to a team willing to sign him to an extension. Draft night reaches a fever pitch for Dallas hours before the first pick.

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The Dallas Cowboys announced on Wednesday that they do not intend to hold contract negotiations with WR George Pickens after assigning him the franchise tag earlier in the year.

The news, which was a shocker even though hopes on a long-term deal were already shaky, raises several questions about Pickens’ future in Dallas. It also raises questions about the front office’s way of operating.

That’s why, as we wait for NFL Commissioner Roger Goodell to kick off the 2026 NFL Draft, here are five thoughts on my mind regarding the Pickens situation.

1. It’s a discouraging approach from the Cowboys

I’ve got to call a spade a spade here. I don’t like that the Cowboys are calling it a day with negotiations. Maybe both sides were miles apart on their initial numbers to the point that there was no hope to reach an agreement, but the groundwork was set for a reasonable deal in the $30-33 million range. Back-to-back franchise tags would pay Pickens an average value of $30 million per year over the next two seasons.

To completely shut down negotiations feels like a mistake.

But mostly, I would have liked to see the Cowboys take a risk on Pickens’ despite their potential concerns about him for the sake of maximizing what appears to be a “win now” window. Dak Prescott, CeeDee Lamb, and head coach Brian Schottenheimer among other key figures on the team are under contract at least over the next three years.

Why not make sure to have an elite duo of wide receivers over that span? Now, it’s only going to be more difficult to keep him in 2027 and beyond.

2. Playing devil’s advocate

The argument for not extending Pickens yet is clear. The Cowboys want to see more from him, as co-owner Stephen Jones cited the receiver’s “newness” to Dallas (and vice versa) was a factor. He’s got only one great season under his belt, football wise.

Behavior wise, the Cowboys may want Pickens to prove the Pittsburgh drama didn’t travel with him to Dallas. They may be concerned about what things look like once he’s paid. It was mostly a smooth ride in 2025, can it be again in 2026?

3. WR fully in play in the first round

With no long-term certainty in sight for Pickens, if the Cowboys are looking at their board and don’t like what they see defensively but they like one of the wide receivers, it would make sense to pull the trigger.

The buzz has been they like Arizona State’s Jordyn Tyson, but Ohio State’s Carnell Tate could also be in the mix. The Cowboys also hosted Omar Cooper Jr. from Indiana on a pre-draft visit.

If they walk out of Thursday with a wide receiver in their ranks, get ready for the Pickens trade conversation to get out of hand. Speaking of which…

4. Can the Cowboys trade Pickens?

The Cowboys would need Pickens to sign his tag to be able to trade him, so doing so during the draft would be tough. At least in Day 1. But whether or not they pick a WR in the first round should have a major impact on their decision-making.

• If the Cowboys do pick a first-round WR, you have to at least consider the possibility of them moving him this year. They don’t want to spend too much on their top two receivers. Wouldn’t they apply the same logic to using a first-round pick at the position? If they can get a second-round pick in return, for instance, I’d expect them to be interested in making a deal happen.
• If the Cowboys don’t pick a first-round WR, I wouldn’t expect them to move him. It would be a massive hit to the locker room and the offense alike. But what about the trade deadline if Dallas gets off to a slow start? What about 2027? Do they let him walk in free agency or tag him again?

The only thing that’s clear is that the Cowboys are done negotiating a long-term deal. Anything else remains a possibility.