‘The writing is on the wall’ for one wide receiver target to become much more costly
By now, New England Patriots fans should be very familiar with the top wide receivers expected to be available this offseason. At or at least towards the top of most of those lists is Cincinnati Bengals wideout Tee Higgins, whose rookie contract expired at the end of the 2023 season.
Not only is Higgins projected to be one of the best players available this offseason, he’s also stylistically a great fit for what the Patriots are lacking. At 6-foot-4, 219 pounds, Higgins is the type of big ‘X’ receiver the Patriots have seriously missed in recent years. Plus, having just turned 25 in March he’s just entering the prime of his career. In just 12 games last year, Higgins caught 42 passes for 656 yards and five touchdowns.
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Of course, a player with that makeup was never going to come cheap. However, a report on Tuesday indicated Higgins’ price this offseason will likely be higher than initially expected.
According to Paul Dehner Jr. of The Athletic, “the writing is on the wall and all expectations are” that the Bengals will franchise tag Higgins before the March 5 deadline. The wide receiver franchise tag for 2024 projects to be just north of $20 million, according to multiple reports. Franchise tag contracts last one year and are fully guaranteed.
The Bengals using the franchise tag would take Higgins out of the free agent pool, but wouldn’t make him totally unobtainable this offseason. Often when players are tagged it’s just to buy time to either negotiate a long-term extension, or work out a trade with the player to a team that is willing to give him a long-term contract. Dehner notes in his column that both are possibilities.
Franchise tag trades do happen with wide receivers. Davante Adams was dealt under those circumstance in the 2022 offseason. Dehner mentions such a trade would likely take place prior to the start of free agency on March 11, in order to get Higgins’ guaranteed money off the Bengals’ books to allow them to spend.
Dehner included an estimate of a late-first or early-second round pick, plus another Day 3 pick, being the cost for Higgins. That’s certainly a price the Patriots could pay if they wanted (they own the 34th pick, second in the second round) and they have the projected cap flexibility to get a long-term deal done.
Of course, parting ways with premium draft capital may change how the Patriots prioritize Higgins as a target, compared to free agent players they can outright pay without having to give up any draft selections. Where do the rankings stand now? Here’s where our Matt Dolloff had Higgins relative to other wide receivers projected to be free agents this spring…