Tee Higgins to Play Under Franchise Tag for 2024 NFL Season
Star wide receiver Tee Higgins will be playing the 2024 NFL season under the franchise tag, earning a fully guaranteed $21.8 million this year. The Cincinnati Bengals and Higgins were unable to reach a long-term extension before Monday’s deadline, leading to this outcome. Despite the inability to secure a new deal, Higgins is set to report to training camp on July 23 when the veterans convene.
Since joining the Bengals, Higgins has emerged as a key player for quarterback Joe Burrow. There were high hopes that he would remain a top target for Burrow for many seasons to come, but the recent developments have cast some uncertainty on that projection. Earlier this year, in March, Higgins had requested a trade, a plea that the Bengals did not grant. This decision has kept the dynamic receiver in Cincinnati for at least another season.
The Bengals' focus recently has been on Joe Burrow, who received a record-breaking five-year, $275 million extension, making him the highest-paid player in the NFL. This massive financial commitment to Burrow could be a factor in why the Bengals were unable to reach an agreement with Higgins on a long-term contract.
Higgins' status under the franchise tag has sparked interest and speculation around the league. It's not just the Bengals' financial structure that is under scrutiny, but also the cap space of other potential suitors. For instance, the New York Jets, who currently have $6.254 million in cap space, don't have much room left to make a competitive offer for Higgins. However, cap flexibility exists, and teams can get creative with their accounting. "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," an unnamed source speculated.
Other teams with more substantial cap space might also look at Higgins as a viable addition. The Washington Commanders have $37 million available, the New England Patriots have $43.763 million, and the Los Angeles Chargers possess $20.656 million in cap space this season, with a projection of nearly $43 million by 2025. These numbers could make a trade and potential contract for Higgins an appealing scenario for franchises looking to bolster their receiving corps.
In comparison to other big-name wide receiver targets, acquiring Higgins could be more cost-effective. Another anonymous source mentioned, "A trade and contract for Higgins will most certainly cost less than trading for Adams." This viewpoint highlights Higgins as a valuable yet potentially budget-friendly solution for teams in need of a top-tier wide receiver without breaking the bank on assets or cap space.
As things stand, Higgins will remain a Bengal for the 2024 season, but his future beyond this year is still very much up in the air. While Joe Burrow’s long-term status with Cincinnati is secured, the coming months will reveal whether the Bengals can retain another one of their offensive cornerstones or if Higgins will find a new home in the NFL.