It’s been a fast and furious week of action with the start of free agency and the new NFL league year. From this point, news will slow down to more of a trickle and by this time next week the focus around the league will be mostly on the draft.
But there are still a few big-name loose ends to tie up, notable veterans whose futures are still undecided. There’s Aaron Rodgers and Russell Wilson, Cooper Kupp and Stefon Diggs. There’s also Bengals DE Trey Hendrickson, who at the moment looks like the odd one out in the Big 3 Cincinnati’s negotiating contracts for this offseason.
The team has already granted Hendrickson permission to explore a trade around the league, a rare concession for the Bengals. Despite that, it doesn’t seem like we are significantly closer to a resolution for the two sides. Nothing is ever easy with the Bengals and their initial asking price for Hendrickson — dubbed “ridiculous” by some of the teams who’ve inquired — doesn’t set a good tone.
Still, Hendrickson might be the best or second-best player available in terms of the ability to move the needle for a team. Pass rushers are valued at a premium in the NFL and no one had more than Hendrickson’s 17.5 sacks last season. Meanwhile, the Bengals need to do something to break the logjam and put all of these contract talks in the rearview mirror. There are a lot of reasons this trade should get done, even if the reality is a little more complicated.
Here’s a look breaking down what Hendrickson’s trade value is and some potential landing spots for the veteran pass rusher.
What Should A Hendrickson Trade Look Like?
The most recent reports are that the Bengals are seeking a first and third-round pick for Hendrickson, an ask based upon his status as one of the most prolific sack artists of the past few years and the difficulty of finding a replacement. Unfortunately, the Bengals are talking out of both sides of their mouth. The reason Hendrickson is on the trade block in the first place is because Cincinnati is nickel and diming him as he seeks to be paid like one of the most prolific sack artists of the past few years.
The contract complicates the situation. Teams seem willing to meet Hendrickson’s asking price on a new deal, which starts at $30 million a year and likely comes in much closer to $34 or $35 given the way the market is moving for top-end pass rushers. But giving up a huge contract on top of premium draft compensation for a 30-year-old defensive player is a tough ask for any team. Teams are mindful to pay for what a player is going to do, not what he has done, and while Hendrickson hasn’t shown any signs of slowing down, the cliff can hit abruptly once players cross the 30-year threshold.
To figure out a more realistic asking price, here’s a look at some notable deals for veteran pass rushers over the past few years:
2024: Jets traded 2026 conditional 3rd that could have become a 2nd for DE Haason Reddick
- Reddick was entering his age-30 season
- Wanted an extension in his contract year after outperforming the previous deal with 27 sacks in two seasons
- Viewed as less of a complete player than Hendrickson
2024: Giants traded 2024 2nd (No. 39), 2024 5th (No. 141), 2025 5th for OLB Brian Burns, 2024 5th (No. 166)
- Burns was turning 26 and seeking a new deal, one the Panthers were wary of paying
- Averaged about nine sacks a season the previous four years
- Giants extended him after the trade for $28.2 million a year
2023: Bears traded 2024 2nd for DE Montez Sweat
- Deal was done at the trade deadline
- Sweat was 27 and had 6.5 sacks at the time of the trade. No double-digit sack seasons prior
- Sweat was playing on the fifth-year option, inked a new $24.5 million per year deal that put him in the top five for edge rushers
2022: Dolphins traded 2023 1st, 2024 4th for OLB Bradley Chubb, 2025 5th
- Deadline deal in 2022
- Chubb had 5.5 sacks at the time of the deal, none the year before that and some major injury questions
- Was still just 26 years old.
- Promptly signed to a five-year, $110M deal
2022: Chargers traded 2022 2nd (No. 48) and 2023 6th for OLB Khalil Mack
- Mack was also 30, like Hendrickson
- Had 23.5 sacks the previous three years, but was a decorated former DPOY
- Was making about $14 million at the time of the trade and on a six-year, $140 million deal worth a little under $24 million per year. At the time, was right at the top of the market.
2021: Rams traded 2022 2nd and 3rd for OLB Von Miller
- Deadline deal, helped lead to Rams Super Bowl win
- Key part of trade was Denver’s willingness to pick up part of the tab on the last year of Miller’s contract.
- Miller was 32, had 4.5 sacks in seven games before trade, didn’t play entire 2020 season due to injury.
- Finished season with 9.5 sacks and the Rams got outbid in free agency in 2022
2019: Chiefs traded 2019 1st (No. 29), 2020 2nd, 2019 3rd (No. 92) for DE Frank Clark, 2019 3rd (No. 84)
- Clark was turning 26 and had 32 sacks over the previous three seasons.
- Talks broke down between Seattle and Clark, who franchised him and then traded him
- Kansas City signed him to a five-year, $104 million deal that would be equivalent to $30.8 million on the current salary cap.
This should give a good idea of the range of offers that could make sense for a player like Hendrickson. Cincinnati almost certainly would love a deal like Seattle got for Clark, who was similarly productive to Henderson. But he was five years younger, which is a massive, massive difference. Hendrickson has been far more productive than Chubb but youth again is a major difference in that trade package, as well as the unique environment of making a deal at the trade deadline instead of during the offseason.
The closest analogs to Hendrickson from an age and production standpoint are the trades for Mack and Reddick. Both of those suggest a second-round pick is a more reasonable ask from Cincinnati’s perspective, as Hendrickson has certainly been more productive than either Mack or Reddick were at the time of those trades.
Whether the Bengals act reasonable or not is an entirely different discussion, but for the sake of this article let’s assume that interested teams proceed under the assumption that a package valued in the neighborhood of a second-round pick will be required to get Cincinnati to engage. Let’s also assume Hendrickson is seeking a deal in the neighborhood of $32 million per year. There are a fair amount of teams who could be interested at that price point.
Potential Landing Spots
Washington Commanders
Trade package: 2025 1st (No. 29), 2025 4th (No. 128) for Hendrickson, 2025 2nd (No. 49)
Washington has already swung two major trades this offseason, giving up a fifth-round pick for WR Deebo Samuel and a big package of picks including a third this year and second and fourth-round picks in 2026 for LT Laremy Tunsil. When you add in last year’s deadline trade of a third-round pick for CB Marshon Lattimore, that’s a lot of wheeling and dealing for GM Adam Peters. The three will combine to make over $55 million in cash this year, too.
There’s a reason Peters has been that aggressive, however, as the ascendance of QB Jayden Daniels has made Washington a legitimate Super Bowl contender. They were one game away from playing for a Lombardi last year in the first year under Peters, HC Dan Quinn and Daniels. A pedal-to-the-floor approach to maximize the window of Daniels’ rookie contract makes sense, and one of the remaining needs for the Commanders is more juice at pass rush. They’re one of the teams so far that’s been linked to having trade interest in Hendrickson.
The Commanders have the cash and cap budget to be able to afford a big deal for Hendrickson, adding him to a front that includes DT Daron Payne, DE Dorance Armstrong, DT Jer’Zhan Newton and DT Javon Kinlaw. Figuring out the draft compensation going back to the Bengals is a little trickier with so much trade ammo already out the window, but they could get creative and give the Bengals the first-round pick they’re seeking while still preserving solid value. The difference in this offer comes out to a late second-round pick for Hendrickson on the Jimmy Johnson trade value chart, and a third-round pick on other notable ones. If that’s not enough, the two sides could swap their second and third-round picks as well.
Chicago Bears
Trade package: 2025 2nd (No. 39)
The Bears have been aggressive in attacking the line of scrimmage on both sides of the ball, trading for guards Jonah Jackson and Joe Thuney while signing C Drew Dalman, DE Dayo Odeyingbo and DT Grady Jarrett to notable contracts in free agency. Adding Hendrickson might be overkill, especially with Sweat already on the roster, but Bears GM Ryan Poles and HC Ben Johnson have said they want to emphasize winning up front, just like the Eagles did in the Super Bowl.
The Bears have the ammunition to go get Hendrickson, if they want. They have four picks in the first three rounds, including an extra second-rounder from Carolina that they put on the table here. Even with all the spending this year, they’re still in good shape because of the advantages of having starting QB Caleb Williams on a rookie contract, even though he was the No. 1 pick. The goal is clearly to stack the roster around Williams as much as possible, and adding Hendrickson would help accomplish that.
Arizona Cardinals
Trade package: 2025 2nd (No. 47), 2026 4th
The top priority for Arizona this offseason seemed to be improving the front seven. While they’ve made some splashes with big deals for OLB Josh Sweat and DT Dalvin Tomlinson, plus a handful of smaller moves, it feels like more work is needed. Adding a player like Hendrickson would vault their defensive line into the conversation as a top ten unit, especially if they can land an interior rusher either via the draft or a step forward from 2024 first-round DL Darius Robinson.
The Cardinals still have plenty of money to spend so it should be no issue signing Hendrickson to the contract he’s seeking. Arizona still has its full complement of draft picks and can put a second-round pick on the table to the Bengals. The team’s first-round pick is too high at No. 16 overall but a future fourth serves as a sweetener. The time is now for GM Monti Ossenfort and HC Jonathan Gannon to consider an aggressive move like this as they near the end of their leash to rebuild in Year 3 of the regime.
Atlanta Falcons
Trade package: 2025 2nd (No. 47)
Atlanta is on this list primarily because they’ve been one of the early teams connected as having interest in a trade for Hendrickson. However, there are real challenges Atlanta will have to sort out. They are near the bottom of the league in cap space at the moment, weighed down by the monster contract they gave QB Kirk Cousins last year. They also have just five picks right now after giving up a third-rounder for OLB Matt Judon in a failed swing to improve their edge rushing group last season.
Still, this is an organization that needs results after a disappointing first year for HC Raheem Morris and mounting pressure on GM Terry Fontenot. The core of the offense is set, improving the other side of the ball is the clear top priority and especially the pass rush. Atlanta would need to get creative restructuring other contracts and building a new offer for Hendrickson in a particular way, but he would instantly add a ton of juice to the Falcons’ flailing pass rush — in theory.
Los Angeles Chargers
Trade package: 2025 2nd (No. 55)
The Chargers were set up to be power players this offseason with around $80 million in cap space and 11 draft picks. But apart from bringing back Mack, it’s been quiet in Los Angeles. The biggest deal the Chargers have handed out to an outside free agent is a two-year $13 million pact for CB Donte Jackson. The bulk of their effort so far has been on re-signing their own free agents and rounding out their depth at a few spots.
Perhaps that’s just how GM Joe Hortiz wants to operate given his background with the Ravens’ front office. Or perhaps the Chargers were keeping their powder dry for a big move at a premium position — like trading for Hendrickson and signing him to a big deal.
Los Angeles’ need for an edge rusher is lessened by bringing back Mack to pair up with Tuli Tuipulotu, an ascending younger player. But the theme of the year seems to be that an NFL team can never have too many pass rushers. The Chargers are chasing the Chiefs in the AFC West and surely took note of how the Eagles were able to beat them. Adding Hendrickson would be an attempt to copy that model.
Indianapolis Colts
Trade package: 2025 2nd (No. 45)
The Colts have been big spenders already with eight-figure deals for CB Charvarius Ward, S Camryn Bynum and QB Daniel Jones. A report from ESPN’s Colts beat reporter, Stephen Holder, indicated that while the team discussed a potential trade for Hendrickson internally, affordability was a significant obstacle. Indianapolis is hovering around the bottom third of the league in cap space right now.
However, if the Bengals lower their asking price to a point where GM Chris Ballard feels he can be competitive, it makes a ton of sense for the Colts to re-engage. They can figure out the salary aspect, including with restructures and cutting DE Samson Ebukam, which arguably should have been done already to save $7.5 million in cap space. New Colts DC Lou Anarumo has watched Hendrickson’s best seasons up close and personal over the past several years and there would be zero question about scheme fit.
Ballard has already lived up to his pledge to be more aggressive this offseason and this would be a natural next step that also aligns with his philosophy of emphasizing the line of scrimmage. The Colts’ pass rush has been mediocre for years but a trio of Hendrickson, Kwity Paye and Laiatu Latu coming off the edge with DT DeForest Buckner inside would be legitimately dynamic and help Indianapolis compete in a crowded AFC. Ballard’s trade and extension for Buckner showed he’s willing to be aggressive, perhaps history could repeat itself with Hendrickson.
Tennessee Titans
Trade package: 2026 2nd, 2025 4th (No. 103)
In theory, the Titans should be figuring more into the conversation for Hendrickson than they appear to be given HC Brian Callahan’s connection to the pass rusher from their time in Cincinnati and Tennessee’s glaring need at the position. Right now the best pass rusher on the team is veteran Arden Key, and the starter across from him would be 2024 seventh-rounder Jaylen Harrell.
But the Titans are low on Day 2 draft picks after a similar trade last year for CB L’Jarius Sneed didn’t pan out, and that experience is part of why the team fired former GM Ran Carthon and brought in new GM Mike Borgonzi. The messaging from the front office since then has been that they want to acquire as many picks as possible, especially top 100 selections.
Still, they also want to win. Callahan in particular used up a lot of his margin for error with last year’s three-win campaign and could be looking for some help from someone he knows well in Hendrickson. The Titans are near the top of the league in available cap space right now, so the biggest challenge would be managing the draft capital in a Hendrickson trade. They can afford his asking price otherwise.
Los Angeles Rams
Trade package: Two 2025 3rds (No. 90 and No. 101)
This wouldn’t necessarily fit with the pattern the Rams have shown recently of wanting to get younger and cheaper to prepare for all the draft picks they’ve hit on the past couple of years getting new deals. But this is a team that you can never rule anything out for, and in the past they had the model of trading picks for proven producers, especially at premium positions. If the Rams think they have one last real crack at a Super Bowl with QB Matthew Stafford in 2025, then they could try to juice the pass rush like they did in 2021. They have two third-round picks to play with, and depending on what trade calculator you use, that could be anywhere from a mid third to a mid-second to a late-first in value.
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