Ja'Marr Chase expected to be highest-paid receiver in NFL

The 24-year-old wideout is entering the final year of his rookie deal, as he is set to earn $21.8 million on the fifth-year option.

According to ESPN's Jeremy Fowler, the Bengals will attempt to sign Chase, Tee Higgins and Trey Hendrickson this offseason.

Cincinnati will inevitably end up paying Chase, but it is perplexing that the organization still hasn't reached a deal with its superstar receiver.

Chase is part of the team's future and should have been compensated last offseason. The Bengals' refusal to meet his contractual demands at that time has cost them an additional $5 million per season.

With QB Joe Burrow earning $55 million per season and Chase potentially signing an extension worth $40 million annually, Cincinnati will not retain both Higgins and Hendrickson.

Both players requested trades last offseason, as the team refused to offer contract extensions. Instead, the Bengals placed the franchise tag on Higgins, while Hendrickson — who led the league with 17.5 sacks in 2024 — played without a new contract.

Higgins is not currently under contract and is most likely to be tagged again, while Hendrickson is entering the final year of his contract and is not guaranteed money.

The front office may say the team wants to keep this core intact, but their actions continue to show they are hesitant to break the bank.

Burrow has implied significant pressure on the front office throughout the offseason, stating he wants the team to keep all its star players. However, this is not smart for the long haul.

It will upset Burrow, but the Bengals should tag and trade Higgins for at least a second-round pick, invest heavily into the defensive side of the ball through the draft and free agency and extend Hendrickson.

Burrow can more than elevate the pieces around him and does not need two top-flight receivers to produce.

In the five games Higgins missed this season, the 28-year-old quarterback had a passer rating of 101.8, throwing for 1,335 yards, 12 touchdowns and two interceptions.

The Bengals' defense, which allowed 25.5 points per game, was the culprit for their shortcomings this past season.

Overall, Cincinnati should extend Chase, trade Higgins for a second-round pick, acquire Cooper Kupp for a mid-round pick, extend Hendrickson and fortify the offensive and defensive lines this offseason.

Cincinnati possesses $53 million in 2025 cap space and $174 million in 2026 cap space, which is plenty of flexibility to extend Chase and Hendrickson while investing some money into other areas of need.