Interesting precedent suggests WR Tee Higgins won't re-sign with Bengals

The Cincinnati Bengals and Tee Higgins didn't reach a multi-year deal before Monday's deadline, increasing the chance the wide receiver will leave the team in 2025.

Higgins signed his franchise tenure ( one-year, $21.816M deal ) in June. Per Pro Football Talk's Mike Florio, since the franchise tag was implemented in 1993, the Bengals have never re-signed a player to an extension beyond the year he was tagged.

Cincinnati could franchise tag Higgins next offseason, but it will result in a 20% increase in his 2024 salary ($26.16M). The Bengals probably prefer to save cap space for a Ja'Marr Chase extension. The three-time Pro Bowl WR has two years remaining on his rookie deal.

"You've got to be really judicious with your money," Bengals director of player personnel Duke Tobin said at the combine, via ESPN's Ben Baby. "You've got to determine what's needed and what's just wanted. Like I've said before, it's a finite pie, and we slice it up a lot of different ways."

The Bengals also drafted WR Jermaine Burton (pick No. 80), who could replace Higgins. He recorded 132 receptions for 2,376 yards and 22 TD catches in four seasons at Alabama and Georgia.

Spotrac estimates Higgins' market value is a five-year deal worth $19.7M annually. The Bengals may view this as a slight overpay. In four seasons with the club , the former second-round pick has eclipsed 1,000 receiving yards twice but has yet to make a Pro Bowl.

In 2023, he battled rib and hamstring injuries, finishing with career lows in receptions (42), receiving yards (656) and TD catches (five) in 12 games.

Not giving Higgins a new deal could still be considered a gamble. Citing ESPN Stats and Information, Baby noted the Bengals average 5.8 yards per play when Chase, Higgins and quarterback Joe Burrow are on the field in the regular season. For context, the San Francisco 49ers have led the league in yards per play (6.2) during this time frame.

Without a Higgins extension, the Bengals may not keep the trio together, meaning they must take advantage of their Super Bowl window. ESPN Football Power Index gives Cincinnati the eighth-best chance to win Super Bowl LIX (5.4%).