Bengals avert crisis as Tee Higgins finally signs franchise tag

The Cincinnati Bengals have spent the past three seasons with two of the league's most dynamic weapons flanking the perimeter. The Bengals haven't had a receiving duo this talented since Terrell Owens and Chad Johnson in 2010, but both T.O. and Ochocinco were at the tail end of their careers at the time.

Ja'Marr Chase and Tee Higgins are already two of the league's best receivers — and they're just getting started. 

In 2023, Cincinnati had the luxury of fielding both receivers for pennies on the dollar. Chase and Higgins had a combined salary cap hit of approximately $12.3 million, which would have ranked 17th among all wide receivers. The duo's combined total cash earnings in 2023 trailed behind rookie receivers Jordan Addison ($7.7 million), Quintin Johnston ($8.1 million), and Jaxon Smith-Njigba ($8.23 million), per Spotrac. 

Cincinnati has been spoiled with wide receiver talent, and they were in prime position to leverage their financial freedom into a dynastic run. The Bengals’ championship window now appears to be closing as lucrative contracts for Chase and Higgins loom large — especially after star quarterback Joe Burrow signed his monster five-year, $275 million deal last year.

Tee Higgins signed his franchise tag but his future is still a mystery

Higgins is expected to sign his franchise tag on Saturday, according to ESPN’s Adam Schefter.

The Bengals placed the franchise tag designation on Higgins to prevent him from entering free agency this offseason. With the two sides embroiled in contract negotiations, the tag remained unsigned. 

Higgins missed the team’s entire offseason program while he was unsigned, including the voluntary organized team activities and the mandatory three-day minicamp. Since Higgins was not under contract, he is not subject to any fines for missing the mandatory three-day minicamp, which concluded on Thursday. It’s likely that the wideout waited to sign the tag after minicamp ended in order to avoid fines.

Cincinnati selected Higgins in the second round of the 2020 NFL Draft, and he has been remarkable since he stepped onto the field. In his four seasons, the 25-year-old receiver has recorded 257 receptions for 3,684 yards and 24 touchdowns. Higgins was voted as the most underrated player in the league by an anonymous player survey conducted by The Athletic. 

Higgins will earn $21.8 million under the franchise tag this season, but he is open to negotiating a long-term contract extension, according to NFL Network’s Ian Rapoport.

Across the NFL, some of the league’s best wide receivers have been locked in a contractual holding pattern this offseason. Along with Higgins, San Francisco 49ers wide receiver Brandon Aiyuk and Dallas Cowboys wide receiver CeeDee Lamb appear to be waiting for the dominoes to fall. Other wide receiver contracts would provide them with benchmarks to reference and surpass with their contracts. Minnesota Vikings wide receiver Justin Jefferson became the highest-paid non-quarterback in NFL history, while Philadelphia Eagles wide receiver A.J. Brown and Detroit Lions wide receiver Amon-Ra St. Brown signed some of the richest contracts in the league this offseason. 

The Bengals could negotiate a long-term extension with Higgins, trade him in exchange for suitable compensation, or allow him to walk after playing out the season on the one-year tag.

As of now, the last two options seem most likely. The soaring wide receiver market likely placed Higgins out of Cincinnati’s budget.

“While an extension is possible, it would be considered unlikely,” Rapoport posted on X. “By waiting and being patient Tee Higgins has seen the WR market jump considerably and has made himself a lot of money in the future.”

The Bengals have $20.8 million in salary cap space heading into training camp, but they have other contractual obligations to keep in mind. Chase is eligible for a contract extension this offseason, and he has missed portions of the offseason program as he angles for a new deal. If the Bengals want to retain both of Burrow's weapons moving forward, it won't come without its consequences. 

Keeping both Chase and Higgins would cost Cincinnati over $50 million per season — a significant amount that would undoubtedly erode talent at other positions on the roster.

Despite Higgins' production, Chase has been the team's undisputed top wideout since he was selected with the No. 5 overall pick in the 2021 NFL Draft. Cincinnati picked up Chase's fifth-year option this offseason, but his record-setting contract extension is still lingering in the near future. 

Chase and Higgins could cost Cincinnati over $50 million per season. Bengals general manager Duke Tobin will have to decide if he wants to tie up that much of the team's cap space in one position group. Along with Burrow's contract, the trio of contracts could account for anywhere between 20 percent to 30 percent of the team's annual salary cap space. With 50 other players to account for, keeping both star wideouts would undoubtedly erode talent across Cincinnati's roster. Their management of Higgins' contract, in conjunction with the contracts of Burrow and Chase, will either be used as a cautionary tale or a blueprint for future up-and-coming team executives.

"We’ll see what happens this year," Bengals general manager Duke Tobin said in January, h/t Cincinnati.com. "I want Tee Higgins back. Everyone on our team would like to have Tee Higgins back. Again, there’s one pie and how big of a slice that takes and what else we can’t do because of it, we’ll have to determine and we’ll see."