Here's what the latest Tee Higgins trade rumors actually mean for the Cincinnati Bengals

Have the Cincinnati Bengals become more willing to trade wide receiver Tee Higgins? ESPN's Jeremy Fowler reported Saturday that Cincinnati's ears have been more open recently.

"I talked to a few teams who are interested who believe that the Bengals are at least willing to listen. That's a little softer than they might have been a year ago where they definitely were not trading him. So, teams are going to try to pry him out. New England's been high-end shopping for receiver help, perhaps they try to give up a Day 2 pick to get Higgins." - ESPN's Jeremy Fowler via Bleacher Report's Adam Wells

Being willing to listen is progress, but we've got ways to go before this means anything for the 2024 Bengals.

Where things stand between Tee Higgins and Cincinnati

Aside from Fowler's report, all's been quiet on the front. Cincinnati rightfully believes the roster is better with Higgins on it than not, and despite not valuing him the way he values himself, they won't part ways without receiving what they believe is fair compensation. Fair is entirely relative in this case. 

The idea of "fair" compensation has been the rift between the Bengals and interested trade partners over the years. Mike Brown and the Blackburns have always tried to straight-up win trades rather than entertain win-win propositions. They would have a far more robust history of trading players for draft picks if this wasn't the case.

The majority of Cincinnati's player trades have essentially been player swaps, with two of them being the golden standard of this practice: Billy Price was traded for B.J. Hill leading up to the 2021 season, and David Jones was traded for Reggie Nelson leading up to the 2010 season. Both moves involved the Bengals exchanging a player no longer in their future plans for a player that would instantly become a core piece of the roster.

Not every trade enacted by the Bengals have been as successful as these two, but the sheer proof of them existing is enough for upper management to stay the course and find fleeces rather than compromises. Most of the player-for-pick trades, like the one that just happened with Joe Mixon, have also involved players destined to be released anyways. This is where the first speed bump comes into play. 

An offer they can't, nor shouldn't, refuse

The Bengals trading Higgins for a second-round pick, like the 34th overall pick Fowler alluded to, has been ostensibly possible for weeks. It's been the reported market price for the 25-year old wideout since the tag was placed on him. If the Bengals wanted to deal him away for that return, they probably would've done so prior to free agency.

Cincinnati operated over the past two weeks as if they plan on carrying Higgins' cap hit of nearly $22 million into the regular season. Excluding the Trent Brown contract (details have not been released as of this posting), the Bengals have around $28 million in cap space. Once Brown's contract is publicly on the books, they'll be around their usual cap space prior to the NFL Draft.

The Bengals could've spent far closer to the cap over the past two weeks, but they didn't. That wasn't by accident. 

If the Bengals are going to deal Higgins and his cap figure away, they'll be getting something more valuable in return than an inexpensive second-round selection or a package of non first-round picks. 

They'll be after a first-rounder, or a player they view equal or better to Higgins.

That could that be the Jacksonville Jaguars' 17th overall pick, Carolina Panthers defensive tackle Derrick Brown, or any number of other possibilities that would garner the Bengals' attention. 

The Bengals can hold strong here because Higgins holds no leverage. He can either play on the franchise tag the Bengals placed on him almost as soon as they had the chance, or forfeit the ability to earn its fully guaranteed $21.816 million pay. Not playing football for a whole year has the risk of interested clubs looking at him like another Le'Veon Bell, the last player to sit out on franchise tag. No club wants to risk signing another Le'Veon Bell. 

Turning over a new leaf?

The only way the Bengals move in the opposite direction is if they simply decide to do so. It would signal a massive shift in their operations, and possibly, a sign of where things may be headed. 

Higgins clearly wants out. He's seen the likes of Michael Pittman, Calvin Ridley, and Jerry Jeudy ink deals featuring guaranteed dollars he'll never see here. If the Bengals feel like the partnership is only headed for toxicity, then granting Higgins a fair trade out of Cincinnati would be an amicable transaction for both sides.

Teams will only come with fair deals right now. The NFL Draft will provide chances for desperation if interested teams don't land the receivers they want early on. That's always been the more likely time for a Higgins trade to go down if not before free agency. 

Fowler reporting progress towards the contrary is an interesting footnote in this on-going saga.