As I have said many times this off-season, unlike most situations (including Parsons last year), the franchise tag in this case is a win-win situation for Pickens and the Cowboys for 2026.
It won't be for 2027, but for 2026, it works for both sides.
Pickens gets a huge raise and gets set up to get an even larger contract in 2027 because the salary cap will increase again considerably and, more importantly, the rolling 5-year average will jump significanly making the franchise tag less appealing.
The Cowboys get to save several million in 2026 by paying Pickens franchise tag amount compared to what it would cost them with a new contract.
This has probably been one of the easiest franchise tag player-vs-team conflicts to predict because it's set up perfectly for both sides to come out winners.