Higgins Plays Under Franchise Tag as Contract Negotiations Stall
Star wide receiver Tee Higgins is set to play out the 2024 NFL season under the franchise tag after contract negotiations with the Cincinnati Bengals failed to yield a long-term extension before Monday's deadline. Higgins, a key weapon for quarterback Joe Burrow, will earn a fully guaranteed $21.8 million this season.
This situation brings an interesting dynamic to the Bengals' training camp, which Higgins will join when veterans convene on July 23. Despite Higgins' March request for a trade, the Bengals were unwilling to let him go, opting instead to retain him under the franchise tag.
Higgins, who was expected to be a top target of Burrow's for years to come, now faces an uncertain future. "It was assumed he would be a top target of Burrow's for years to come," notes one observer, reflecting the sentiment of many fans and analysts who anticipated a long-term connection between the two players.
The Bengals' decision not to trade Higgins keeps him on a roster that has already made Joe Burrow the highest-paid player in the NFL with a five-year, $275 million extension. The financial commitments raise questions about the team's ability to retain other key talents moving forward, especially with significant investments already made to secure Burrow.
Meanwhile, other teams around the league are monitoring the situation closely. The New York Jets, for example, have just $6.254 million in cap space for the season. While this may seem insufficient for a high-profile addition like Higgins, creative accounting could potentially make it work. "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," suggests one analysis.
Several teams, including the Washington Commanders, the New England Patriots, and the Los Angeles Chargers, have more flexibility. The Commanders boast $37 million in cap space, while the Patriots have $43.763 million available. The Chargers, with $20.656 million in cap space this season, are also projected to have nearly $43 million in cap space in 2025. Such financial health puts these teams in a favorable position should they decide to pursue Higgins.
Comparatively, Higgins could be a more cost-effective option than other high-profile wide receivers on the market. "A trade and contract for Higgins will most certainly cost less than trading for Adams," points out an insider, alluding to the potential savings teams might find in targeting the Bengals' receiver over pricier alternatives like Davante Adams.
As the season approaches, all eyes will be on Higgins to see how he performs under the franchise tag and whether the Bengals' gamble to hold on to him pays off. The outcomes of this scenario could have significant implications not just for Cincinnati, but for any team considering adding a game-changing wide receiver to their lineup next year.