The Bengals have enjoyed one of the league’s best receiver trios over the past three years with Ja’Marr Chase, Tee Higgins and Tyler Boyd. The latter two are pending free agents, though, leaving the team with interesting decisions to make. 
Higgins in particular is due for a raise this offseason, either on a long-term Bengals agreement, a deal sending him to a new team or a franchise tag. ESPN’s Dan Graziano notes the former second-rounder is indeed a “strong candidate” for the one-year tender. Franchise tags in 2024 are projected to check in at $21.66MM for wideouts, but that figure could be a placeholder for a multi-year pact in Cincinnati or elsewhere.
Graziano’s colleague Jeremy Fowler adds Higgins could become a tag-and-trade option if talks on a deal fail to gain traction. The team shot down trade speculation this past offseason, leaving pressure on all parties to reach an agreement. The 24-year-old has dealt with injuries this campaign, but he has multiple 1,000-yard seasons on his resume and could operate as an acquiring team’s top WR over a long-term stretch. The Bengals were unable to hammer out a new Higgins contract in the summer, and talks will not resume until the end of the campaign.
The Clemson alum is on track to finish with career lows in receptions and yards, although he has delivered a strong showing recently in the absence of Chase. The latter will be eligible for a monster extension this offseason, and he profiles as a higher priority than Higgins on a long-term commitment. Should talks on an agreement stall once again, the Bengals would no doubt have a signficant market in a tag-and-trade scenario.
The 2024 offseason figures to have more high-profile receiver options available than last year. The likes of Mike Evans, Michael Pittman Jr., Calvin Ridley and Marquise Brown are set to see their respective contracts expire. Higgins will be one of the most sought-after WRs if he is available, as foreshowed by midseason attempts made to acquire him from around the league.
Both the Jets and Panthers included Higgins in their efforts to add at the trade deadline. No deals emerged, but agreeing to one would have been contingent on hammering out a multi-year contract from New York and Carolina’s perspective. If a similar appetite exists in the spring, the Bengals could receive numerous trade offers upon using the tag. A Cincinnati agreement could still ensue, of course, but that would complicate the team’s financial outlook.
Keeping Chase, Higgins and Boyd on the books in 2024 and beyond would prove challenging for the Bengals. The eldest member of the group is well aware his future with the franchise is in question, given the presence of younger WR options in need of long-term commitments. Boyd has expressed a desire to remain in Cincinnati, where he has spent all seven seasons of his career. A Higgins deal would greatly increase the chances of Boyd departing, a move which would create a notable vacancy in the team’s offense.
The Bengals are currently projected to be near the top of the league in terms of 204 cap space. Among the many key organizational decisions yet to be made, though, the one concerning Higgins’ future will be one of the most important. His situation will be worth watching closely once Cincinnati’s season comes to an end.