The 15-day NFL franchise tag window opened on February 20th. Within three days, we found out the first player to be franchise-tagged. The Cincinnati Bengals are reportedly placing it on wide receiver Tee Higgins. But what does that mean for the Bengals and Higgins?

When is the NFL Franchise Tag Window?

The NFL franchise tag window is officially open! Teams have from February 20th to March 5th to give a player a franchise tag. NFL Free Agency will then officially open on March 13th.

Photo byCincinnati Bengals

Cincinnati Bengals Franchise Tag Tee Higgins

For Tee Higgins, who was set to become a free agent in a few weeks, getting the Cincinnati Bengals franchise tag most likely means he'll remain with the Bengals for another year. He was part of a huge class of wide receivers that are expected to hit free agency this year. This year, the non-exclusive franchise tag for wide receivers is about $21.8 million. Now, Higgins could try to get a better offer somewhere else, but the Bengals will have a chance to match. With the price being two first-round pick, it is extremely unlikely Higgins would see any interest.

So, Tee Higgins will be on the Cincinnati Bengals this season with a high cap hit of nearly $22M. The alternative would be an agreement on a long-term contract with the team, and they still have several months to figure this out.

Despite experiencing a dip in his statistical performance this past season, it was largely due to missing five games. Higgins has consistently proven his worth on the field. His track record includes scoring at least five touchdowns in every season with the Bengals. Even with his limited participation, Higgins managed to finish the limited season strong, ranking as the fantasy football WR25 in PPR scoring during Weeks 12-16 and WR51 overall for the season. In his last full season in 2022, Higgins showcased why he deserved to be franchise-tagged and get some well-deserved money, finishing WR18 in PPR scoring. His impressive stats included 75 receptions (tied for 23rd-most among WRs), 110 targets (26th-most), 1,042 receiving yards (17th-most) and seven touchdowns (tied for 13th-most).

These numbers should make Bengals fans happy that they kept Higgins for this year. For fantasy football owners, even though there may have been better options out there, Higgins returning to play with Joe Burrow and Ja'Marr Chase should lead to numbers similar to his 2022 season.