Franchise Tag Keeps Tee Higgins in Cincinnati for 2024 Season
After months of speculation and contract negotiations, star wide receiver Tee Higgins will play out the 2024 NFL season under the franchise tag, as initial efforts to reach a long-term extension with the Cincinnati Bengals have failed. The franchise tag guarantees Higgins a fully guaranteed salary of $21.8 million, a substantial figure but not the multi-year security the player originally sought.
Contract discussions between Higgins and the Bengals reached a standstill before Monday's contract negotiation deadline. Despite the impasse, Higgins is set to report to training camp on July 23, joining his fellow veterans in preparation for the upcoming season.
The Bengals' refusal to extend or trade Higgins will likely fuel debates among fans and analysts alike. Higgins had initially requested a trade in March, a request that the Bengals ultimately denied. The decision to keep him in Cincinnati, even without a solidified future beyond this season, comes amid significant financial moves by the organization, including making quarterback Joe Burrow the highest-paid player in the NFL with a five-year, $275 million extension.
Higgins, now entering the final year of his rookie contract, once appeared to be a fixture in the Bengals' long-term plans. "It was assumed he would be a top target of Burrow's for years to come," noted an anonymous source. Yet the current circumstances suggest otherwise, igniting speculation about his future with the team once the franchise tag period expires.
Further complicating matters are the financial conundrums of other teams that might have shown interest in acquiring a top-tier wide receiver like Higgins. While teams like the New York Jets, the Washington Commanders, the New England Patriots, and the Los Angeles Chargers have varying amounts of cap space, the complexities of NFL accounting could play a decisive role.
The New York Jets, for instance, have $6.254 million in cap space but face challenges in structuring a deal under these constraints. "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," suggested a sports finance analyst.
The Patriots and Commanders, boasting $43.763 million and $37 million in cap space respectively, might offer more flexibility. Additionally, the Chargers, who currently have $20.656 million in cap space and are projected to have nearly $43 million by 2025, could also emerge as potential suitors if circumstances align favorably.
Regardless of where Higgins' path may lead, one analyst believes there is a fundamental truth in his potential market value. "A trade and contract for Higgins will most certainly cost less than trading for [Davante] Adams," underscoring the obtainable value Higgins presents, both financially and in terms of performance metrics.
As Higgins heads into what could be a pivotal season under the franchise tag, the Bengals' unwillingness to meet his initial trade request leaves multiple possibilities on the table. Whether Higgins remains a long-term part of Cincinnati's plans or finds a new home in a market willing to meet his demands remains one of the key storylines to track as the 2024 NFL season unfolds.