The Cincinnati Bengals have reportedly informed star wide receiver Tee Higgins that they will be placing the franchise tag on him, according t0 NFL Network insider Ian Rapoport.

According to Rapoport, the franchise tag figure is expected to be around $21.8 million in 2024, fully guaranteed.

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The franchise tag allows teams to have an additional year of contractual control with a player, while also allowing both sides to work toward a long-term contract extension.

Selected the same year as quarterback Joe Burrow, in the second round of the 2020 NFL Draft, the 25-year-old Higgins ranks 20th in receiving yards since the 2020 season (3,684) and 17th in the NFL in touchdown receptions (24).

Injuries hampered the Clemson product’s production in 2023: He played in just 12 games and caught only 42 balls for 656 yards and five touchdowns, all career lows.
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According to Pro Football Focus, the Bengals have the sixth most cap space for the 2024 season, the last season before Burrow’s record-breaking five-year, $275 million extension takes effect.

The 2024 season is also the final year of wide receiver Ja’Marr Chase’s rookie contract, though there is an option for 2025 that the team can choose to exercise.

Factoring in the estimated figure on Higgins’ franchise tag, the Bengals are set to have about $51 million in cap space remaining ahead of the start of free agency on March 13.