When it comes to paying star players, it never pays to wait.
The Cowboys learned that lesson (again) on Monday, when the market for the receiver position moved from $40 million per year to $42.15 million per year, thanks to the new contract signed by Seahawks receiver Jaxon Smith-Njigba.
That’s particularly relevant to Cowboys receiver George Pickens, whose path to free agency was blocked by the franchise tag. He’ll make $27.298 million without a long-term contract. And his desire to get a long-term deal will only become stronger, now that two other receivers have made it to the $40 million threshold.
The Cowboys and Pickens have until July 15 to get a multi-year deal signed. There has been no indication that any negotiations have begun. The Cowboys will likely push it to the deadline, while also lamenting Pickens’s absence from the offseason program.
Regardless, the price will keep going up. The Rams likely will be signing receiver Puka Nacua to a new deal, sooner than later. He’ll quite possibly be the next player to get to $40 million per year. That will make Pickens even more determined to get there.
No, delays never help get deals done. Especially since the Cowboys may have been able to get Pickens signed during the 2025 season for something less than $40 million per year.
Still, it’s on brand. They take too long to pay their stars. They did it with Dak Prescott. They did it with Ezekiel Elliott. They did it with CeeDee Lamb. They did it with Micah Parsons — and it blew up on them.
What will happen with Pickens? That’s largely up to the Cowboys. But the market is the market, and the market has once again changed. If the Cowboys truly want to keep him, they need to dig deep. If they keep dragging their feet, they’ll eventually need to dig ever deeper.
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