Star wide receiver Tee Higgins is set to play out the 2024 NFL season under the franchise tag. Despite concerted efforts, contract negotiations with the Cincinnati Bengals failed to yield a long-term extension before Monday's deadline. As a result, Higgins will earn a fully guaranteed $21.8 million this season.
Higgins will report to training camp when veterans convene on July 23. This comes after a notable off-season in which Higgins requested a trade in March, a request to which the Bengals did not acquiesce. This situation has placed a spotlight on Higgins, who was previously assumed to be a top target of quarterback Joe Burrow's for years to come. The Bengals, prioritizing their star QB, made Joe Burrow the highest-paid player in the NFL with a five-year, $275 million extension.
The franchise tag ensures Higgins will remain with the Bengals for the upcoming season, yet it leaves his future with the team murky beyond 2024. The 24-year-old wide receiver's trade request indicates potential unrest, and with the Bengals opting not to honor that request, the dynamic within the team will be one to watch closely.
Potential Landing Spots
The ripple effects of the franchise tag extend beyond Cincinnati. Various teams around the league remain keenly interested in acquiring a player of Higgins' caliber. The New York Jets, for example, have $6.254 million in cap space for the season. However, they don't have a ton of cap space left to play with for this season. They could, theoretically, 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. Such maneuvering would enable the Jets to fit Higgins into their roster despite current financial constraints.
Meanwhile, other teams boast more flexibility. The Washington Commanders have $37 million in cap space, offering ample room to sign an elite talent like Higgins. Similarly, the New England Patriots have $43.763 million in cap space, making them another viable candidate for negotiating a trade and subsequent extension for Higgins. Notably, the Patriots have a reputation for making big moves to strengthen their roster, and Higgins could be the kind of offensive threat that reinvigorates their passing game.
Cap Space and Strategic Planning
One team that stands out both in terms of available cap space and the need for an offensive boost is the Los Angeles Chargers. With $20.656 million in cap space this season and projections showing nearly $43 million in cap space in 2025, the Chargers are in an enviable position. Acquiring an asset like Higgins could offer immediate benefits while ensuring long-term stability. A trade and contract for Higgins will most certainly cost less than trading for other top receivers like Adams, allowing the Chargers to potentially secure top-tier talent without depleting their financial resources.
For Higgins, the 2024 season will be a critical juncture in his career. Playing under the franchise tag offers financial security but also underscores the transient nature of his current situation. Whether he remains in Cincinnati beyond this year or finds a new home via trade, Higgins will be an asset well worth the investment. As the impending season unfolds, teams with both a pressing need for a wide receiver and the financial capability to swing a significant deal will undoubtedly keep a close watch on this evolving scenario.
Ultimately, the Higgins saga serves as a testament to the complexities and strategic nuances of NFL roster management. As the season approaches, the Bengals will aim to make the most of their star receiver's talents while navigating the uncertainties of his contract status. The rest of the league, meanwhile, will watch closely for any opportunity to secure one of the NFL's premier offensive threats.