NFL teams can use a franchise tag on one player each season. They don’t have to, but if they choose to, that player is given a one-year deal that is either worth the average of the top five salaries at that position over the last five years or 120% of the player’s previous salary, whichever is higher. The Cincinnati Bengals are reportedly choosing to use their 2024 franchise tag on wide receiver Tee Higgins.
The franchise tag can serve several purposes, from giving a team a way to retain a player without hitting free agency to providing more time to work out a contract extension. Since the franchise tag doesn’t inherently bring much job security, some players refuse to sign it and instead hold out for an extension. Just because Higgins is being tagged doesn’t mean that he is guaranteed to be a Bengal this season. While the tag gives Cincinnati more time to work with Higgins and his agent on a possible extension, they can still trade him. Even if the wideout signs the tag, it isn’t binding with the Bengals, and the tag would just transfer to whatever team acquires him. Granted, if a team traded for Higgins, it would be likely that they would also sign him to an extension and not just pick him up as a one-year rental. The franchise tag amount for wide receivers this season is $21,816,000.
Higgins was drafted with the 33rd overall pick of the 2020 NFL Draft. He has spent four seasons with Cincinnati and has picked up 3,684 receiving yards and 24 touchdowns so far in his career. He has moved down the depth chart with Ja’Marr Chase on the roster, which calls into question whether Higgins can be the WR1 of the offense. The best spot for him could be with a team like Kansas City, where he could play alongside Rashee Rice and not be called upon to be the focal point of the passing game. Higgins could very well remain with Cincinnati, but after locking down Joe Burrow for the foreseeable future and a big payday on the horizon for Chase, Higgins’ days with the Bengals could be numbered. If he decides to sign the tag and isn’t traded, he would be able to be tagged by Cincinnati again next season.