Star wide receiver Tee Higgins is poised to play out the 2024 NFL season under the franchise tag, following unsuccessful contract negotiations with the Cincinnati Bengals. Despite the franchise's efforts, they were unable to secure a long-term extension for Higgins before Monday's deadline.
Under the franchise tag, Higgins will earn a fully guaranteed $21.8 million this season. As per the agreement, he is expected to report to training camp along with other veterans on July 23. This upcoming season promises to be a pivotal one for Higgins, who recently requested a trade in March. However, the Bengals did not acquiesce to his trade request, keeping him firmly within their ranks.
Franchise Dynamics
The Bengals are investing heavily in their offense, having made quarterback Joe Burrow the highest-paid player in the NFL with a five-year, $275 million extension. This financial commitment to Burrow underscores the importance of maintaining a strong supporting cast, including top targets like Higgins. "It was assumed he would be a top target of Burrow's for years to come," one analyst noted, reflecting the sentiment around Cincinnati’s investment in their star receiver.
Cap Space Considerations
The financial dynamics of the NFL are always complex, and several teams are keeping a close eye on their cap space as they consider potential trades and signings. The New York Jets, for instance, have $6.254 million in cap space for the season. While this might not be ample room, "the Jets don't have a ton of cap space left to play with for this season, but 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."
On the other hand, teams like the Washington Commanders and the New England Patriots are in a more robust position, boasting $37 million and $43.763 million in cap space, respectively. This financial flexibility places them in a strong position to potentially pursue players of Higgins' caliber.
Eyeing the Future
Another team to watch is the Los Angeles Chargers, who presently hold $20.656 million in cap space this season. They are projected to see significant flexibility in the future with nearly $43 million in cap space in 2025. This projection could make them a viable contender in the race to acquire high-caliber talent like Higgins, should he become available on the trade market.
Options and Opportunities
At present, the Bengals' decision to retain Higgins under the franchise tag could be a strategic play to maintain a highly competitive roster. As discussions around potential trade scenarios swirl, some insiders suggest, "A trade and contract for Higgins will most certainly cost less than trading for Adams." This could influence decision-making by teams looking to bolster their receiving corps without overspending.
The upcoming months will be telling as teams continue to maneuver within the tight confines of the NFL’s salary cap. For Higgins and the Bengals, the 2024 season represents both an opportunity and a proving ground. As fans and analysts alike watch closely, the wide receiver’s performance and the ongoing negotiations could have significant repercussions for his future and that of the Bengals' offensive ambitions.