George Pickens trade: Dallas Cowboys could receive third round compensation pick if wide receiver does not sign extension

Another big-time draft pick was dealt away by the Dallas Cowboys on Wednesday. Pittsburgh will receive a third-round pick for wide receiver George Pickens, sending him to Dallas in his final season of a rookie contract. Reports indicate, as of now, Pickens is not going to want to negotiate an extension.

There is a world where Pickens only spends one season with Dallas before leaving in free agency. Pickens would have presumably played well and been out of Jerry Jones’ price range. And the wide receiver signing a big deal elsewhere could actually help the Cowboys recoup the third-round pick.

“The centerpiece of the trade being a third-round pick does relate to that,” SI’s Albert Breer said. “For Dallas, if Pickens plays well, and the Cowboys decide they can’t afford to pay him with CeeDee Lamb already making $34 million per year, then there’s a good chance they’d land a 2027 third-round pick back for their ’26 third-rounder, having gotten the year of service out of Pickens.”

Only four teams are projected to receive third-round compensation picks during the 2026 NFL Draft, per Over The Cap. Pittsburgh is one of them, getting one due to Dan Moore Jr. leaving in favor of the Tennessee Titans.

The Cowboys likely want to hang onto Pickens for the future, partnering him with Lamb and creating a dynamic duo with Dak Prescott, and get an extension done next offseason. But worst case scenario, there could wind up being just a few slots lost in the third round by taking on Pickens. Potentially a win-win scenario for Dallas.

Report indicates George Pickens is not looking for contract extension

George Pickens will play out the final season of his rookie contract with the Dallas Cowboys. Three years were spent with the Pittsburgh Steelers but a big-time trade went down on Wednesday. Immediately, one of the questions for Dallas now becomes, can they sign Pickens for a long-term extension?

If the answer is yes, we will apparently not find out in the near future. According to DLLS’s Clarence Hill, Pickens is not looking to sign a new deal at night. His goal is to go out and prove himself during the 2025 season.

“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,’” Hill said via X.