The simple fact of the Cincinnati Bengals allowing Trey Hendrickson to seek a trade partner seems to be very telling of what's going to happen. 

And things are already moving in the right direction. Per The Athletic's Jeff Howe, there is "quite a bit" of interest in trading for Hendrickson around the NFL.

The Bengals have received quite a bit of interest in a potential trade for DE Trey Hendrickson, who has been given permission to speak with teams about a new contract, per source. Sounds like the possibility exists for a win-win outcome for both sides. @TheAthleticNFL

— Jeff Howe (@jeffphowe) March 7, 2025

This is great news not only for the Bengals getting the best possible return for Hendrickson, but for the Bengals trading him at all. 

"The Bengals are not just gonna trade him," The 33rd Team's Ari Meirov said Thursday afternoon. "Like, they're not just gonna do that and say, 'Oh, we got a fourth round pick for this guy, let's move on.' They're gonna want some significant and real value over here.

"They're gonna be looking for a very high draft pick, or a combination of picks in order to move on from Trey Hendrickson."

Meirov is 100% correct here. The Bengals still value Hendrickson to the point where they won't want to give him away for nothing. The more teams who are interested in him, the more the Bengals can jack up the price to acquire him.

In my estimation, there are three kinds of compensation packages the Bengals should expect to receive from interested clubs.

First-round pick swap and change

This would only occur if the acquiring team is picking at least a few spots ahead of the Bengals in the draft order. The Bengals hold the 17th overall pick. The Indianapolis Colts and Chicago Bears are two of the teams heavily rumored to be in the mix. The Colts pick 14th and the Bears 10th, respectively. Exchanging one of those picks for the 17th pick would gain the Bengals a surplus of value equal to a third or second-round selection in accordance to the NFL Draft Trade Value Chart.

But the Bengals would also want another actual draft pick to sweeten the deal, even if it's a Day 3 or future Day 3 pick. That would help put this kind of offer over the top. 

Example Trade
– Colts receive: Trey Hendrickson, 17th overall pick
– Bengals receive: 14th overall pick, 2026 fifth-round pick   

Early Day 2 pick

If the Bengals end up netting just one draft pick for Hendrickson without touching pick No. 17, it should be a second-round pick or an early third-round pick at minimum. The Bears have picks 39 and 41 in the second round. The Colts posses the 45th pick. Getting one of those back for Hendrickson would give the Bengals three top-50 picks in April's draft, which will be needed to draft at least one instant-impact pass rusher. 

Cracking the top 32 picks isn't likely considering Hendrickson's already 30 years old and will require a new contract. The best pick Cincinnati can expect while keeping their own first-rounder is one from the second round. 

Example Trade
– Bears receive: Trey Hendrickson
– Bengals receive: 41st overall pick

A trade for Bengals edge rusher Trey Hendrickson has Brad Holmes and the Lions written all over it, here’s the proposal

Welp, a crazy March in the NFL just got a little more crazy. The Cincinnati Bengals, a team that has been known to be the most headstrong franchise in the league when it comes to trades, has finally allowed a player to seek a trade.  It just so happens that the player fits everything the […]

Late Day 2 pick and Day 3 pick/player 

The Bengals could get back multiple picks for Hendrickson, but the top pick would likely have to be outside the top half of the second round. You're talking about teams like the Detroit Lions and Washington Commanders, who own picks 60 and 61, respectively. Those teams should have to offer either a Day 3 pick, or a player from their own team. 

It's not a perfect apples-to-apples comparison, but the Los Angeles Chargers gave up the 48th overall pick and a sixth-round pick to acquire a 31-year old Khalil Mack in March of 2022. Similar timing and player pedigree make this an apt precedent for the Bengals to fall back on in negotiations.

At minimum, the Bengals should ask for a third-round pick as the high-end portion of the compensation, and I think this is what they'll ultimately be able to get unless a bidding war does break out and the price jumps into the second round. A Day 3 or future Day 3 would remain part of the conversation regardless.

Cincinnati is also fond of getting actual players back in return in trades. It's how Reggie Nelson and B.J. Hill arrived and how Carlos Dunlap left, for example. A veteran edge defender to offset the loss of Hendrickson would certainly interest the Bengals.

Example Trades
– Commanders receive: Trey Hendrickson
– Bengals receive: 61st overall pick, 186th overall pick 

– Colts receive: Trey Hendrickson
– Bengals receive: 80th overall pick, Kwity Paye

Bengals trading Trey Hendrickson will be a failure to dispel a false narrative that surrounded Cincinnati’s offseason plan

Hendrickson is likely to be traded, and the rest of the NFL can feel validated about the Bengals when that happens.