Tee Higgins to Play Under Franchise Tag
In a move that has significant implications for both player and team, star wide receiver Tee Higgins is confirmed to play out the 2024 NFL season under the franchise tag. This development comes after prolonged contract negotiations with the Cincinnati Bengals failed to result in a long-term extension by Monday's deadline.
Despite the lack of a multi-year deal, Higgins is set to earn a fully guaranteed $21.8 million this season. He is expected to report to training camp when veterans convene on July 23, signaling his commitment to the team's immediate future, even as his long-term status remains uncertain.
Higgins, who previously requested a trade in March, saw his aspirations for a change in scenery unmet. The Bengals firmly declined to acquiesce to his trade request, opting instead to retain one of their key offensive weapons. “It was assumed he would be a top target of Burrow's for years to come,” reflecting the high expectations for the Burrow-Higgins partnership in Cincinnati's offensive strategy.
Bengals Secure Burrow, Uncertainty for Higgins
While the Higgins saga continues, the Bengals have made decisive financial moves by securing quarterback Joe Burrow with a five-year, $275 million extension, making him the highest-paid player in the NFL. This substantial investment in Burrow underscores the team's commitment to providing stability at the QB position, though it raises questions about allocation of cap space for other key players like Higgins.
Potential Suitors and Cap Space Scenarios
As Higgins prepares for the 2024 season, the prospect of his future beyond Cincinnati inevitably draws attention from other NFL teams with sufficient cap space. The New York Jets, for example, have $6.254 million in cap space for the season, which limits their flexibility. However, “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.” This financial maneuvering could potentially make a deal more feasible for the Jets.
The Washington Commanders and the New England Patriots are in better positions with $37 million and $43.763 million in cap space, respectively. The Los Angeles Chargers, another potential suitor for Higgins, have $20.656 million in cap space this season and are projected to have nearly $43 million in cap space come 2025. Such cap room gives these teams significant leeway to pursue impactful trades and extensions.
Trade Value Dynamics
In assessing Higgins’ trade value, it’s important to consider market comparisons. Given the financial constraints and cap strategies of various teams, “A trade and contract for Higgins will most certainly cost less than trading for Adams,” suggesting that Higgins may be a relatively more affordable and attractive option for teams needing to bolster their receiving corps without breaking the bank.
Conclusion
As the 2024 NFL season approaches, Tee Higgins stands at a crossroads. Playing under the franchise tag with the Cincinnati Bengals might not have been his first choice, but it ensures his role in one of the league's most potent offenses remains secure, at least for one more season. With numerous teams holding the financial means to acquire high-value talent, the next year could see significant developments in Higgins' career path, whether through trade intricacies or contract extensions.