Star wide receiver Tee Higgins is set to play out the 2024 NFL season under the franchise tag, a pivot many Bengals fans were hoping to avoid. Contract negotiations with the Cincinnati Bengals did not yield a long-term extension before Monday's deadline, ensuring Higgins will earn a fully guaranteed $21.8 million this season.
Higgins will report to training camp alongside other veterans on July 23, despite requesting a trade in March. The Bengals, however, did not acquiesce to his trade request, signaling their commitment to maintaining a competitive roster around quarterback Joe Burrow.
Franchise Tag Fallout
The fallout of the franchise tag extends beyond just salary figures. While Higgins will undoubtedly be a top target of Burrow's this season, the future remains uncertain. It was assumed he would be a top target of Burrow’s for years to come, especially given the recent trend of dynastic quarterback-receiver duos in the NFL. Yet, Higgins' current situation leaves room for speculation about his long-term role with the Bengals.
The Bengals recently made Burrow the highest-paid player in the NFL with a five-year, $275 million extension. This move emphasizes their commitment to a future built around their star quarterback. However, given the Bengals' firm stance on Higgins' trade request, their strategy appears to heavily rely on his performance during the upcoming season.
Potential Trade Suitors: Cap Space Concerns
The persistent trade rumors around Higgins are fueled by several teams with adequate cap space who might be interested. The New York Jets, for instance, have $6.254 million in cap space for the season. While this doesn't leave them a ton of flexibility, it’s been suggested that they could get creative in their accounting for a Higgins extension by providing him with a massive signing bonus and backloading his contract to defer larger cap hits to future years.
Among the more financially-equipped teams, the Washington Commanders and the New England Patriots stand out with $37 million and $43.763 million in cap space, respectively. Both franchises could potentially accommodate Higgins on their rosters and address their own needs in the wide receiver position.
The Los Angeles Chargers also come into the picture with $20.656 million in cap space this season, projected to have nearly $43 million in cap space by 2025. Their financial flexibility could make them a viable destination if the Bengals decide to revisit trade discussions.
Comparative Trade Value
There's an intriguing cost-value aspect to any potential trade. Reportedly, a trade and contract for Higgins will most certainly cost less than trading for Davante Adams of the Las Vegas Raiders, who is also rumored to be on the trading block. Given Adams' substantial salary and age, teams might find Higgins' combination of skill, youth, and relative cost more appealing.
While the Bengals have clearly shown their intent to keep Higgins for the 2024 season, the coming months will be pivotal. His performance, the team's overall success, and unfolding contract situations around the league could all impact whether he remains a Bengal beyond this season. Either way, Higgins' journey in Cincinnati this year will be one closely watched by analysts and fans alike.