The window to place the franchise tag on an NFL player opens on Feb. 17 and ends on March 3. For a second consecutive year, the Cincinnati Bengals have a decision to make.
After failing to reach a long-term extension with defensive end Trey Hendrickson ahead of the 2025 season, time is now ticking for the Bengals to decide their plans for Hendrickson and his future.
Hendrickson’s current deal with the Bengals will expire at 4 p.m. March 11, when the new league year begins. Meaning, that unless the Bengals place the franchise tag on him before then or don’t re-sign him, he will no longer be under their control.
The NFL allows each team to place the franchise tag on one player each year if they want to use it to ensure a player remains with the club while negotiations ensue. Typically, they are used for teams and players when they are working towards a long-term deal and they just need more time to get it done.
An example of how the tag should be used is when the Bengals placed it on wide receiver Tee Higgins ahead of free agency in March 2025. The Bengals and Higgins eventually agreed on a contract extension because the tag allowed for more time to negotiate.
A year later, the Bengals face a similar decision with Hendrickson. However, there are different variables at play with this specific situation.
Prior to the franchise tag window opening, The Enquirer spoke to several league sources regarding the Bengals dilemma with Hendrickson.
And here’s what we know.
The Bengals have three options: Tag him and trade with another team, let him walk to free agency or place the tag on him with the expectation that he will play the 2026 season in Cincinnati.
Nothing is off the table as of Feb. 16. Cincinnati is not expected to make any decision on Hendrickson’s future before the NFL combine in Indianapolis next week, a source told The Enquirer.
Translation: The Bengals will use the week in Indianapolis to gather information from other teams on their potential interest in Hendrickson. From there, Cincinnati’s front office will have a better understanding of where things stand on the Hendrickson front.
It’s no secret that the relationship between the Bengals and Hendrickson has been strained for the last few years. From Hendrickson’s public comments about his displeasure with the way the Bengals have handled negotiations to Bengals owner Mike Brown saying his star defensive end is “sometimes not so easy” to deal with, the two sides haven't always seen eye to eye.
Despite the tension between the team and Hendrickson, how this story ends is hard to predict for a few reasons.
Hendrickson is expected to be the top defensive player to hit the free-agent market if the team allows him to do so. It’s not often a player of his caliber becomes available without a team having to give up significant draft capital for his level of production.
This is exactly why the situation is complicated.
The Bengals’ signing of Hendrickson in 2021 will go down as one of the best free-agent acquisitions in team history. Cincinnati should – and will – try to get something in return for Hendrickson if they can.
This is what the Bengals will discuss with teams at the NFL combine. And here’s the main thing they must find out: Is a team willing to give up a draft pick in exchange for the rights to Hendrickson − and what pick would that be?
The Enquirer spoke to a high-ranking NFL personnel executive for another team who said that if a team is willing to give up something to the Bengals, it would likely be no higher than a third-round pick. He added that this year's free-agent class at the defensive end position could end up being strong.
Where it get complicated for Hendrickson and the Bengals is the valuation at this point in his career. A team that wants Hendrickson – which is expected to be several – likely won’t feel inclined to give up a Day 1 or Day 2 draft pick to the Bengals knowing they’ll also have to take on Hendrickson's price tag, while also understanding there’s a chance he could be available on the open market.
If that situation occurs, they could still have a chance of acquiring him without losing draft capital or settle for a less expensive option.
This is the information gathering the Bengals must do over the next two weeks. If they can’t find a trade partner, they will have to decide if it’s time to move on and let him become a free agent with the hope they get a compensatory pick in return or place the tag on him and force him to play one more season understanding the risk associated with the latter decision.
Prior to the 2025 season when contract extensions were ongoing, Hendrickson’s biggest talking point was that he wanted long-term security. He wants a multi-year commitment from a team.
It’s why another one-year deal with the Bengals, which is essentially what the franchise tag would be, isn’t what Hendrickson wants.
Although the franchise tag number would give him a significant amount of money for one season, it goes against what he’s been fighting for.
He’s 31 years old and coming off a year in which he played in just seven games and needed season-ending core muscle surgery. This is likely his final chance at a multi-year contract as he’s already played nine NFL seasons.
The Bengals also understand the ramifications for paying Hendrickson at the franchise tag amount. Sure, he would once again enter the season as one of the best edge rushers in the NFL, but it would handicap the Bengals from spending money at other positions where they need help.
The pre-determined amount for the franchise tag for Hendrickson is $30.2 million fully guaranteed for one season.
Hendrickson has proven he’s still at the top of his game when healthy. He’s still more than capable of impacting an NFL game, but it would seem the relationship has run its course in Cincinnati.
This article originally appeared on Cincinnati Enquirer: Major decision looms for Bengals with Trey Hendrickson and his future