After a lengthy holdout, Cincinnati Bengals wide receiver Tee Higgins signed his franchise tag tender over the weekend. It means Higgins will be present for training camp in July. He'll attempt to string together a career-best campaign ahead of hitting free agency next offseason.
The Bengals slapped Higgins with the franchise tag in late February. Preferring to sign a long-term extension, the former Clemson standout initially refused to sign the tag. He unsuccessfully requested a trade in March. Higgins then skipped voluntary team activities and mandatory minicamp. He wasn’t subject to fines because he wasn’t technically under contract.
He’ll now earn a fully guaranteed $21,816,000 for the 2024 season. Higgins’ decision to admit the inevitable and sign the tag approximately one month before training camp is an admirable one. Higgins could have dragged his holdout through the conclusion of the preseason while skipping camp and not risking injury. Instead, his contract will no longer be an offseason distraction for a Bengals team with Super Bowl aspirations.
Higgins' attention now shifts to being as productive as possible throughout 2024. That's how the Oak Ridge, Tennessee native can position himself to land a lucrative contract in next year's free agency period. Higgins must remain healthy and productive after suffering through an injury-prone 2023 campaign.
The wide receiver market has exploded this offseason, a development Higgins will welcome. Justin Jefferson just became the highest-paid receiver in NFL history after signing a four-year, $140 million extension with the Minnesota Vikings. CeeDee Lamb will soon sign something with the Dallas Cowboys that places him near or alongside Jefferson's earnings.
A.J. Brown extended his contract with the Philadelphia Eagles in an agreement that contains $32 million per year in new money. Amon-Ra St. Brown received $30 million annually from the Detroit Lions and Jayden Waddle recently signed a three-year, $84.750 million extension with the Miami Dolphins ($28.2 million annually).
All of those wideouts significantly out-produced Higgins in 2023, who was limited to 12 regular-season appearances and career-lows in receptions (42), yards (656), and touchdowns (5). If Higgins recaptures his previous form in 2024, the Bengals' No. 2 playmaker should enjoy the third 1,000-yard season of his career.
Other developments at receiver this offseason could be more in line with Higgins' eventual fate. Nico Collins signed a four-year extension worth $24.2 million annually with the Houston Texans after a 1,200-yard season (despite producing less than 500 yards in 2021 and 2022). Devonta Smith, who like Higgins, has just two 1,000-yard seasons under his belt while playing second-fiddle at receiver for his team, got a three-year extension worth $25 million per year.
Higgins should position himself to demand a three-year contract in free agency that pays him approximately $27 million annually. It's difficult to envision Higgins getting himself next to Jefferson, Lamb, St. Brown, and Brown in the $30-million-per-year bracket.
One thing that could benefit Higgins is next year's scheduled crop of free agent receivers. He's slated to headline a list that currently includes aging assets like Stefon Diggs, Keenan Allen, Amari Cooper, and DeAndre Hopkins (I'm not expecting Lamb or Brandon Aiyuk to reach free agency). Teams looking for a building block at receiver in free agency will note that Higgins is three-to-seven years younger than the aforementioned alternative options.
Higgins ended his holdout and distraction by signing the tag. He must now produce another 1,000-yard campaign while his Bengals attempt to knock off their arch-rival Kansas City Chiefs in the AFC. If all goes well, Higgins should sign a multi-year contract that surpasses $27 million per year.
