Cowboys Finally Prove 'All In' With Pickens 'Fail-Safe' Trade

The Cowboys believe they have that now.

Dak. Tyler Smith. Micah Parsons. Tyler Booker. These are tone-setters. So if Pickens brings fire? That’s fine — fire’s good. You just need the right insulation around it.
And look — you can question Pickens’s character, but what you can’t question is his physicality, his competitiveness, and his love for football. That’s not just rumor — that’s tape and testimony.

Now onto the contract.

There’s zero indication that an extension is imminent — and that’s a good thing. It makes sense for both sides to wait and see. Dallas wants to evaluate Pickens inside the building — see who he is in their locker room, their scheme, their ecosystem. And Pickens? He’s still playing on a second-round rookie contract with no fifth-year option. He knows this is his moment.

If he wants to land in that Tee Higgins/Devonta Smith/Jaylen Waddle $25 million per year range as his team's "explosive elite No. 2 receiver,'' this is the season he proves it. That mindset — proving it first — should already be a good sign for Cowboys fans.

But here’s the kicker:

His agent is David Mulugheta.
Yes, that David Mulugheta — the same agent Jerry Jones once “couldn’t name,” the same agent representing Micah Parsons, and the most calculated contract negotiator in the league. If you think this extension talk is going to be simple, think again.

That’s where the other fail-safe kicks in.

Worst-case scenario? Pickens walks in 2026. The Cowboys recoup a third-round compensatory pick in 2027. That’s how this front office structured the risk — no overpay, no panic, just football math.

But make no mistake: the contract might wait, but this isn’t a “wait and see” trade from the Cowboys. This is a win-now swing. It’s the kind of move you make when you’re trying to actually do something.

For once, fans can tip the cap to the Jones family. Because they did the thing that had to be done: get Dak Prescott and Ceedee Lamb some help.