The Dallas Cowboys may have secured wide receiver George Pickens for the 2026 season with the franchise tag, but a long-term extension seems unlikely. Now that the Atlanta Falcons have signed wide receiver Drake London to an extended deal, it has altered the wide receiver's market demand.

“London's new deal is for $141 million over four years, although he could see as much as $150 million with incentives,” Randy Gurzi of Sports Illustrated reported on June 2. “As for guaranteed money, London will get $100 million. That's an average of $35.25 million for London, and could increase to as high as $37.5 million per season.”

Pickens signed the franchise tag ($27.3 million) after the draft, though he demanded either a trade or a long-term deal with the Cowboys. But the Cowboys were clear with their intentions of not trading Pickens, while also not providing any hope of a long-term future with the team. But things are not in Pickens' favor now.

Considering London’s deal, Pickens and his agent, David Mulugheta, are expected to place a similar demand above the present $141 million mark if Pickens elevates his production from that of his breakout campaign in 2025.

So in a way, the trouble for Pickens isn't that London's contract hurts his value. It actually helps establish a higher market. However, the problem is that the higher price tag may make it harder for the Cowboys and Pickens to reach an agreement, prolonging the contract dispute.

The new deal ranks London as the third-highest paid receiver, with the highest average per year in the franchise's history, trailing only Seattle Seahawks Jaxon Smith-Njigba and Cincinnati Bengals Ja’Marr Chase.

Pickens recorded all career highs in receptions (93), receiving yards (1,429), and touchdowns (9) in 17 games played, earning his first Pro Bowl nod in 2025. While London didn't come close to such numbers, he posted 68 receptions for 919 yards and seven touchdowns in 12 games played in 2025.

According to Spotrac, Pickens' market value is projected at $122.4 million for a four-year contract, with an average annual salary of $30.6 million.

The Cowboys have time until July 15 to negotiate a long-term deal close to those numbers. However, the contract extension remains uncertain as the Cowboys are already paying wide receiver CeeDee Lamb ($34 million) and quarterback Dak Prescott at their highest market values.

George Pickens' Situation Remains One to Watch in Dallas

ESPN's Jeremy Fowler believes that the Pickens contract saga will continue to raise headlines, though the star wideout has signed the tag.

"Pickens signed his $27.3 million franchise tag, which the Cowboys are happy about," Fowler wrote. "But he wants a long-term deal that Dallas won't give right now. Whether Pickens develops a reason to sit out during the offseason or regular season could be something to watch."

Pickens was not present during the OTA sessions of the Cowboys. Though it's voluntary, he is expected to be present in the mandatory minicamp from June 16.

While the Cowboys expect Pickens to report for mandatory minicamp, any absence would immediately put his contract situation back in the spotlight.

How do you think London's contract will impact Pickens' Cowboys future? Drop in the comments.

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Written by

Archana Ramakrishnan

Edited by

Soheli Tarafdar