Stefon Diggs' new deal opens an expensive door for Tee Higgins in 2023
Wide receivers are getting paid in 2022. Stefon Diggs' new deal is the latest and most expensive example. And you don't even have to be a top-flight receiver to make a lot of money. Just ask Mike Williams, Christian Kirk, Robby Anderson, Michael Gallup, and even Russell Gage. 2022 has broken the mold in regard […]
Wide receivers are getting paid in 2022.
Stefon Diggs' new deal is the latest and most expensive example. And you don't even have to be a top-flight receiver to make a lot of money. Just ask Mike Williams, Christian Kirk, Robby Anderson, Michael Gallup, and even Russell Gage.
2022 has broken the mold in regard to the receiver market. From 2013-2021, NFL teams allocated an average of 7.64% of adjusted cap dollars toward wide receiver on their respective active rosters. The NFL, as a whole, spent an average of $418.4 million on the position over those nine seasons.
So far in 2022, teams are allocating an average of 9.84% of adjusted cap dollars toward receivers on their active rosters and they've spent $668.2 million on the position. And those figures don't include Diggs' new deal.
2023 gets even more expensive. 11.08% of adjusted cap dollars are going to the wide receiver position and the NFL is currently spending $762.6 million, as a whole. And those numbers are figured at the time of this publication. Plenty more will be added to the tab over the next year.
A supposed ever-increasing salary cap will only enable the spike to continue. This isn't just a 2022 and 2023 thing.
Which is why the Cincinnati Bengals need to go ahead and extend Tee Higgins in 2023.
Higgins already has one season with at least 1,000 receiving yards under his belt. He's just one yard shy of averaging 1,000 receiving yards per season during the first two years of his career. Per PFF, Higgins also graded out as the Cincinnati Bengals' best overall receiver in 2021 (84.5) and was 0.2 points shy from tying Ja'Marr Chase for the best pure receiving grade on the team.
Higgins' mark of 2.14 yards per route run was the eighth-highest mark out of all receivers with at least 88 targets in 2021. That was better than guys like Tyreek Hill, Stefon Diggs, Mike Evans, D.K. Metcalf, CeeDee Lamb, and many others.
He should have an even better year in 2022 now that the Bengals have upgraded their offensive line. Another year in the Zac Taylor's offense with Joe Burrow and quarterback will only help Higgins and his numbers soar.
There are multiple reasons to extend Higgins early
The obvious benefit of an early extension is staying ahead of the market. As the above numbers show, the market is taking huge steps forward each year. Who knows what the difference will be in 2023 and 2024. Higgins' value will also rise with each good year that he logs. Hypothetically, it's cheaper to extend him after back-to-back 1,000-yard seasons as opposed to extending/re-signing him after three straight 1,000-yard seasons.
Extending Higgins in 2023 will also keep the Bengals from getting into a bidding war with other teams, which in turn keeps them from overpaying. Which saves money at the end of the day, as well.
But there's one more reason: Tyler Boyd will need a new deal after 2023. It'll be tough to re-sign both guys in one offseason, especially when considering the Cincinnati Bengals could be looking to extend Burrow in 2024. Boyd also won't turn 30 until midway through the 2024 season. So, he's very likely to have a nice market bidding on his services, which will only complicate things.
Yes, Higgins' 2023 cap hit of $2.76 million is a great price for a receiver of his caliber, however, the Bengals will save a lot more in the long run if they go ahead and take care of their guy next offseason.
Featured image via Katie Stratman-USA TODAY Sports
