The Cowboys’ most expensive decision in the 2026 offseason will come at wide receiver. Do they re-sign George Pickens for what is sure to be one of this year’s most lucrative non-QB contracts? Do they utilize
the franchise tag, which would cost them even more in salary cap space? Or do they let Pickens walk, losing one of their most important offensive weapons and creating a new, significant offseason need?
Under Contract
CeeDee Lamb – If Pickens does wind up on another roster in 2026, at least you still have a franchise WR to lean on. While it was a down year for Lamb, he still put up 75 catches, 1,077 yards, and three touchdowns. The contributing factors were logical: Pickens ate into his production, Jake Ferguson caught a lot more touchdowns than usual, and Lamb only played in 14 games. If the Cowboys have to rely more on Lamb next season, there’s no reason to think he couldn’t deliver.
Ryan Flournoy – Flournoy established himself as a reliable third receiver this year, leapfrogging Jalen Tolbert, Jonathan Mingo, and KaVontae Turpin as the season progressed. Because he started the season on the practice squad, Flournoy’s original rookie deal from 2024 is gone. But Dallas wisely signed him to a two-year deal when they called him up in September, so at least he’ll only be a restricted free agent in 2027. The question now is, if Pickens doesn’t return, would Dallas consider Flournoy as WR2 next season?
KaVontae Turpin – It was a disappointing year from Turpin across the board. His offensive production didn’t really change from 2024, despite offseason talk that Brian Schottenheimer wanted him to be more involved. And his most important work as the return specialist fell well short of his previous standard, which made his selection as a Second-Team All-Pro hard to fathom. He’s set to count $4.7 million against the 2026 cap and Dallas can save about half of that if he’s released.
Jonathan Mingo – Now that Flournoy has fully supplanted him on the depth chart, Mingo may be in trouble. Counting only $2 million against the cap isn’t awful, but it’s a bit rich for a down-roster guy with minimal special teams value. Dallas may let him compete again in August, hoping he can finally contribute with better health and more time in the system. But if they’ve lost faith and are ready to admit they wasted that fourth-round pick, the Cowboys could just as easily cut their losses now and reallocate the cap space to a more useful asset.
Parris Campbell – The veteran signed a minimal one-year deal to try to revive his career in Dallas, but was injured early in training camp. Surprisingly, not long after releasing him from IR, Dallas re-signed Campbell to the practice squad and kept him there all year. He’s signed a futures deal to return in 2026, but turns 29 in July. Somebody must like something about this former second-round pick, but it remains a mystery until we see more.
Traeshon Holden – One of the darlings of the 2025 preseason, the undrafted WR out of Oregon caused a panic when he didn’t make it through final cuts. But despite everyone’s fears, Holden made it onto the practice squad and remained unpoached through the season. If the Cowboys do move on from guys like Mingo and Jalen Tolbert, Holden has a great chance to claim a spot near the bottom of the depth chart.
Free Agents
George Pickens – The projected WR franchise tag for 2026 is about $28 million. That’s a relative steal compared to what Pickens could count annually with a multi-year deal, but is a harder hit to the salary cap. While a regular contract allows room for massaging the cap hits, 100% of a franchise year salary counts against you. So that’s the big choice for Dallas if they want to bring him back: do you pay more in cash to save room on the cap, and to lock him up for at least the next few years?
Jalen Tolbert – As already mentioned, Flournoy has moved into the space that should’ve belonged to Tolbert. Dallas had hoped he’d at least be another solid asset at receiver, in the mold of other former third-rounders like Michael Gallup and Terrance Williamss. But Tolbert has never found their consistency, and as such is likely looking for a new home as his rookie deal expires. Dallas could bring him back on a minimal deal if he can’t find a new team, but won’t pay much with who they already have and what they need to do with Pickens.
What’s Needed?
While Flournoy’s rise makes up for Tolbert’s failure to launch and the failed Mingo trade, no internal option would mitigate the loss of Pickens. You’d be back to the 2024 offense, relying too much on Lamb and Jake Ferguson while hoping Flournoy is a better WR2 than Tolbert was. For a Cowboys team trying to move forward, this would feel like a big backwards step.
Of course, Pickens signing elsewhere doesn’t necessarily mean the job goes to Flournoy. There are other possoble veteran free agents close to Pickens’ age, but who shouldn’t get top money, like Alec Pierce, Wan’dale Robinson, and Romeo Doubs. Dallas could also go a little older, and probably a lot cheaper, with someone like Deebo Samuel or Jauan Jennings. Or, after a successful rehab of Pickens, maybe would consider trying to do the same with someone like Brandon Aiyuk.
If Pickens walks and they don’t replace him in free agency, WR suddenly becomes a major need with one of those two 2026 first-round picks. While many fans have the hearts set on two big additions to the defense, not signing Pickens should mean cap dollars are going to other positions. It also could help them with a more balanced salary cap, pairing a cheap rookie with Lamb for the duration of his big contract.
So far, the front office seems committed to bringing George Pickens back. Whether they do or don’t, and even the manner in which they might re-sign him, will be the biggest move of the offseason and drive decisions elsewhere.
