Jerry Jones has indicated no personal grudges with Mulugheta and stressed that adult, contract-agnostic negotiations are a natural part of NFL team-building. Still, the history between Mulugheta and the Cowboys, particularly during the Parsons stalemate last offseason, underscores how the agent’s involvement can influence leverage and terms.
Pickens, who posted a strong 2025 season with 1,429 receiving yards and 93 receptions, is seeking a long-term contract beyond the franchise tag. The Cowboys face a market reality: Mulugheta’s guidance could push for competitive offers, potentially from teams willing to trade for Pickens under a non-exclusive tag, which would require two first-round picks.
Industry projections suggest a four-year, roughly $122 million market value for Pickens if a long-term deal is pursued. However, the Cowboys would have to balance that with cap considerations and the willingness of other clubs to meet asking prices, given the trade cost involved if multiple teams show interest.
In the meantime, Dallas is expected to continue negotiating through Mulugheta to avoid further offseason disruption. The franchise tag provides time to secure a deal, but it also concentrates leverage in the hands of Pickens’ representation as the sides navigate a path toward long-term stability.
Overall, as the Pickens negotiation unfolds, the Cowboys’ front office remains focused on maximizing value for the team while ensuring the best financial outcome for Pickens, with Mulugheta playing a pivotal role in shaping the terms.
