Cowboys considering franchise tag for WR Pickens, costing approximately $28 million

The Dallas Cowboys are weighing the option of placing a franchise tag on Pro Bowl wide receiver George Pickens, which could cost around $28 million.

Why it matters: The decision regarding Pickens’ contract status is crucial for the Cowboys as they navigate their financial strategy and roster composition ahead of the new season.

• The deadline for this decision is March 3, and it will significantly impact the team’s salary cap and ability to pursue other players in free agency.
• A tag would ensure that one of their star receivers remains on the roster, but it also limits flexibility in allocating funds to bolster other areas of the team.

What’s new: Cowboys General Manager Stephen Jones has acknowledged the ongoing considerations regarding the franchise tag.

• "It crosses your mind... Hopefully that'll be the case here," Jones stated, indicating that the organization is actively evaluating all options.
• With previous instances of using the franchise tag on players like Dak Prescott and DeMarcus Lawrence, this isn't uncharted territory for the Cowboys.

Yes, but: While tagging Pickens guarantees his presence, it raises questions about long-term alignment with the team's salary structure.

• The Cowboys have historically used the franchise tag frequently; however, the last long-term deal for a first-time tagged player was with Dez Bryant in 2015.
• The risk exists that such a temporary solution might hinder future negotiations with other key players, particularly CeeDee Lamb, who is currently the third-highest paid receiver at $34 million.

What’s next: The Cowboys are also looking to restructure contracts for several high-profile players to create additional cap space for free agency.

• Players like Dak Prescott and Osa Odighizuwa, who signed an $80 million contract last year, may see adjustments to their deals to accommodate the financial impacts of a potential franchise tag on Pickens.
• This restructuring is part of a broader strategy that aims to revitalize a roster that has not seen significant free-agent acquisitions since 2012.

The bottom line: The dynamics surrounding Pickens' potential franchise tag represent a critical moment for the Cowboys as they balance immediate roster needs with long-term fiscal strategy.

• As Stephen Jones noted, "Every year is different... But, yeah, we certainly think we'll end up being involved in free agency this year," suggesting that the franchise tag decision will play a pivotal role in shaping the Cowboys' offseason moves.

Zoom Out: The Cowboys have entered a period of strategic evaluation as they prepare for the upcoming season amidst shifting dynamics in the NFL landscape.

• With the league evolving and competition intensifying, the Cowboys must navigate these waters effectively to maintain their status as contenders.