The 15-day NFL franchise tag window opened on February 20th. Within three days, we found out the first player to be franchise-tagged. The Cincinnati Bengals are reportedly placing it on wide receiver Tee Higgins. But what does that mean for the Bengals and Higgins?
What is An NFL Franchise Tag?
You may have heard the term “franchise tag” get thrown around a lot in the NFL news, but what exactly is an NFL franchise tag? In its simplest form, a team can give a player on an expiring contract a franchise tag. This is a one-year deal for the player.
If it is a non-exclusive franchise tag, the player can sign another team’s offer sheet. This would give the original team two first-round draft picks, if they don’t match. The value of this franchise tag is the average of the top five salaries at the player’s position over the last five years or 120% of his previous salary (whichever is number greater). This is the most common franchise tag used.
A transition tag has a lower value and it allows players to sign another offer sheet. The original team would have the chance to match, but they don’t receive draft picks if they don’t. An exclusive franchise tag doesn’t allow the player to explore other offers.
When is the NFL Franchise Tag Window?
The NFL franchise tag window is officially open! Teams have from February 20th to March 5th to give a player a franchise tag. NFL Free Agency will then officially open on March 13th.
Cincinnati Bengals Franchise Tag Tee Higgins
For Tee Higgins, who was set to become a free agent in a few weeks, getting the Cincinnati Bengals franchise tag most likely means he’ll remain with the Bengals for another year. He was part of a huge class of wide receivers that are expected to hit free agency this year. This year, the non-exclusive franchise tag for wide receivers is about $21.8 million. Now, Higgins could try to get a better offer somewhere else, but the Bengals will have a chance to match. With the price being two first-round pick, it is extremely unlikely Higgins would see any interest.
So, Tee Higgins will be on the Cincinnati Bengals this season with a high cap hit of nearly $22M. The alternative would be an agreement on a long-term contract with the team, and they still have several months to figure this out.
Despite experiencing a dip in his statistical performance this past season, it was largely due to missing five games. Higgins has consistently proven his worth on the field. His track record includes scoring at least five touchdowns in every season with the Bengals. Even with his limited participation, Higgins managed to finish the limited season strong, ranking as the fantasy football WR25 in PPR scoring during Weeks 12-16 and WR51 overall for the season. In his last full season in 2022, Higgins showcased why he deserved to be franchise-tagged and get some well-deserved money, finishing WR18 in PPR scoring. His impressive stats included 75 receptions (tied for 23rd-most among WRs), 110 targets (26th-most), 1,042 receiving yards (17th-most) and seven touchdowns (tied for 13th-most).
These numbers should make Bengals fans happy that they kept Higgins for this year. For fantasy football owners, even though there may have been better options out there, Higgins returning to play with Joe Burrow and Ja’Marr Chase should lead to numbers similar to his 2022 season.
