Official franchise tag values are great news for both Tee Higgins and the Cincinnati Bengals
The NFL revealed the 2024 salary cap to be $255.4 million; an increase of just over $30 million from 2023.With that announcement comes official franchise tag values for each position, which will pique the interest of the Cincinnati Bengals in the coming days. The Bengals are expected to place the franchise tag on wide receiver […]
The NFL revealed the 2024 salary cap to be $255.4 million; an increase of just over $30 million from 2023.
With that announcement comes official franchise tag values for each position, which will pique the interest of the Cincinnati Bengals in the coming days.
The Bengals are expected to place the franchise tag on wide receiver Tee Higgins, and in doing so, it will cost them about 8.5% of the base salary cap for this season.
How much will it cost the Bengals to place the franchise tag on WR Tee Higgins?
Making Higgins the Bengals' franchise player for 2024 will cost them $21,816,000 in both salary cap space and cash. That number will be locked in once placed, and can only be changed if Higgins signs an extension with the team, or doesn't sign the tender at all this year. The Bengals wouldn't have to pay him if he refuses to play under the tag.
This is big for both Higgins and the Bengals. The tag was expected to be slightly lower than the $21.816 million figure it's been revealed to be, but the salary cap is also larger than expected as well.
Should the Bengals exercise the tag, it won't eat into their cap space amount as much as it was projected to do so before.
How much cap space do the Bengals now have?
The official cap figure puts the Bengals with $72,836,373 in cap space, according to Over The Cap. This factors in the rollover cap space the Bengals didn't use during the duration of the 2023 season.
If the tag finds Higgins, the Bengals will still have over $51 million in cap space before offseason accounting rules apply. That's plenty of space to freely operate in free agency even if they stick to tradition and save about $10 million in space for the start of the season.
Joe Burrow would approve latest insider report on Tee Higgins’ future with Bengals
He spoke it into existence.
