On Friday, the Dallas Cowboys will place the franchise tag on Pickens as expected, according to ESPN’s Todd Archer. The move guarantees the Pro Bowl receiver a one-year deal worth about $28 million and keeps him from becoming a free agent this offseason. After a huge fantasy football season, can he and CeeDee Lamb continue to post monster numbers in 2026? Let’s take a look at Dallas’s offense following Friday’s news:
The Cowboys’ WR1 case
In his first year in Dallas, Pickens finished third in the NFL in receiving yards and was the WR5 in PPR scoring. He hauled in 93 passes for 1,429 yards and nine touchdowns, setting new career highs and leading the team across the board.
Part of Pickens’ success was due to the Cowboys’ pass-heavy scheme, and part was due to the injuries that limited CeeDee Lamb to 14 games. Lamb also had a big season when available, producing 75 catches for 1,077 yards and three touchdowns. Lamb was the WR22 in PPR scoring, even though he missed three games.
Pickens’ numbers could trend down a little bit in 2026 if Lamb doesn’t miss any time, but his strong connection with Dan Prescott and ability to make big plays will keep him a high-upside, big game threat any time he takes the field. Lamb’s recent injury history could also indicate that Pickens could get time without him, making him a clear top option.
Currently, Pickens is going off the board between 12 and 20 in most 2026 fantasy football drafts, while Lamb is going earlier, just inside the top 10. Lamb is the more established option and a clear first-round pick in most formats, while Pickens remains a fringe option that can be snagged at the end of the first round if you’re looking to go with a receiver and trust him more than Nico Collins, Malik Nabers, or Drake London.
If nothing else changes this offseason (which it will), I’d have him just outside the first round as an early Round 2 pick.
Is Pickens in a predicament?
One thing that could hurt Pickens’ upside, though, is that he could be unhappy on the tag. His representatives met with the Cowboys to discuss a long-term extension but nothing substantial came of the talks, which were reported to be “general.”
If he doesn’t want to play on the tag, Pickens could hold out and skip team activities. If an extension can’t be reached, Pickens could still end up with a new team before the season starts. Earlier this offseason, NFL Network’s Ian Rapoport discussed the possibility that Pickens could be tagged and traded before the NFL Draft.
At this point, it looks like Pickens is headed back to Dallas, but that could still change if negotiations do not progress. The Cowboys shook up the NFL with a Micah Parsons trade just before the 2025 season, and another similar situation could be brewing with Pickens now getting the franchise tag.
After his huge season, he has shown he can be a fantasy football star, so where he lands this offseason will be a key storyline to watch as you prep for the 2026 fantasy football season.
