The Cowboys have finally satisfied one of their biggest needs.
The team known for its passive nature in free agency and trades has acquired George Pickens from the Pittsburgh Steelers for a 3rd round pick and another swap.
The wide receiver will be paired with CeeDee Lamb in Dak Prescott's arsenal for years, right?
Think again.
Pickens is on the final year of his rookie deal for $3.65 million but after this season he is an unrestricted free agent.
He and the Cowboys are reportedly on the same page that there will be no contract negotiations until next offseason.
Per source on the need for a possible contract extension following the trade, new Cowboys WR George Pickens isn’t “looking to do one. Wants to show he’s a top guy this year.”
— Clarence Hill Jr (@clarencehilljr) May 7, 2025
Taking all of that into context, what will Pickens make next year? Will he return to Dallas or go to another team?
What will George Pickens' next contract look like?
Pickens reportedly wants to show he's a "top guy," but that will be difficult considering he will be alongside All-Pro wideout CeeDee Lamb.
But the new Cowboy could prove himself worthy of a big payday if he produces like he's expected to.
According to Spotrac, Pickens is estimated to earn a four-year, $101 million deal next offseason. That would put him at about $25.3 million annually. It would make the former Steeler the 12th-highest paid WR in the league.
Most pass catchers making more than that are primary targets on their team like Lamb, Justin Jefferson, or Tyreek Hill.
Tee Higgins ($28.7 million) and Jaylen Waddle ($28.2 million) are the only 'number 2' wide receivers on the list making more than $25 million annually.
The Dallas Cowboys' cap situation
The Cowboys are known for being methodical when signing free agents or extending contracts. Jerry Jones is in an ongoing negotiation with Micah Parsons, which the Cowboys' owner has said he has no urgency to complete soon.
It was the same way with Dak Prescott and CeeDee Lamb.
According to OverTheCap, Dallas is projected to have just over $10 million in cap space next season. The salary cap is flexible and the Cowboys are sure to restructure some player and release others. Parsons' potential new contract can also free up space.
It's possible that the Cowboys would have the space to sign Pickens, but it could be tricky.
Speaking of Parsons, there is an interesting tie between him and Pickens that Adam Schefter posted about on social media.
Soon-to-be Cowboys WR George Pickens is heading into the last year of his contract and will want a new deal. His agent happens to be David Mulugheta, whose name Cowboys owner Jerry Jones said he did not know while talking about a new deal for Micah Parsons, another Mulugheta…
— Adam Schefter (@AdamSchefter) May 7, 2025
MORE: The real reason the Steelers traded George Pickens to the Cowboys
It's worth noting that Dallas already has the highest-paid player in the league in Prescott, along with Lamb's massive contract. They've also signed DT Osa Odighizuma to a multi-year extension. Tyler Smith, their standout guard, is due for a payday next season.
Will Dallas have the money to make this Pickens deal more than a one-year rental? Only time will tell if Jerry Jones can deepen his pockets to keep the weapon around long term.