Tee Higgins to Play Under Franchise Tag in 2024 Season
In a significant development for the Cincinnati Bengals, star wide receiver Tee Higgins will play the 2024 NFL season under the franchise tag. Despite extensive contract negotiations, the Bengals and Higgins were unable to reach a long-term extension before Monday's deadline. Consequently, Higgins will secure a fully guaranteed $21.8 million for this season.
Higgins, who had requested a trade back in March, saw his request declined by the Bengals, signaling the organization’s intent to keep him as a key part of their offensive arsenal. He is expected to report to training camp on July 23 when the veterans convene.
The decision to franchise tag Higgins holds significant implications not just for him but also for the Bengals' future strategies. Given his dynamic role in the Bengals' offense, it was widely assumed he would remain a top target for quarterback Joe Burrow for years to come. With the current scenario, however, uncertainties linger over his long-term tenure with the team.
Financial Dynamics: Bengals Commit to Burrow, Other Teams Eye Cap Space
The Bengals' roster maneuverings have seen substantial financial commitments, most notably making Joe Burrow the highest-paid player in the NFL with a five-year, $275 million extension. This hefty investment in Burrow has understandably been a focal point, affecting the team’s flexibility in other high-value player contracts.
Meanwhile, other NFL teams are currently assessing their cap space relative to potential trade opportunities. The Los Angeles Chargers, for instance, have $20.656 million in cap space this season and are projected to have nearly $43 million in cap space by 2025. This forward-looking financial setup could make the Chargers significant players in the future trade and free agency markets.
On the other side of the spectrum, the New York Jets have $6.254 million in cap space for the current season. To accommodate a player like Higgins, they would need creative financial structuring. As one source suggested, “The New York 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.”
Trade Speculations: Higgins' Market Value
With Higgins on the franchise tag and his trade request turned down, several teams may explore the prospect of acquiring him. The Washington Commanders and New England Patriots, possessing cap spaces of $37 million and $43.763 million respectively, are well-positioned financially to consider such moves. Moreover, the notion that “a trade and contract for Higgins will most certainly cost less than trading for [Davante] Adams” adds an intriguing element to his trade market value.
Conclusion
As the situation evolves, the Bengals' decision to leverage the franchise tag for Higgins reflects both the challenges and strategic considerations inherent in managing top-tier talent within salary cap constraints. Higgins’ performance this season under the franchise tag will undoubtedly be scrutinized as both he and the Bengals navigate this complex juncture. For now, one thing is clear: Tee Higgins remains a critical component of the Cincinnati Bengals' plans, at least for the upcoming season.