Tee Higgins Contract Extension

After a turn of events this offseason, the Bengals were able to lock down both of their star wide receivers, Ja’Marr Chase and Tee Higgins, to long-term extensions. Chase was always expected to return to Cincinnati, while many figured the Bengals would need to let Tee Higgins walk in free agency due to salary cap constraints. However, the two sides were able to come to an agreement on a massive pay raise for Higgins. This past season, Higgins totaled 73 receptions, 911 yards and 10 touchdowns.

Terms of the Deal

Higgins signed a four-year, $115 million extension that will keep him under contract through the 2028 season. In early March, the Bengals originally placed the franchise tag on Higgins, which would have paid him a guaranteed $26.2 million for the 2025 season. With the new extension, Higgins' new AAV (average annual value) is $28.75 million, which ranks ninth among wide receivers.

Guarantees/Incentives

This extension includes $40.9 million guaranteed and $30 million guaranteed at signing ($30 million represents roughly 26 percent of the total contract value). The $30 million guaranteed at signing includes a $15 million 2025 roster bonus (treated as a signing bonus, so it will be prorated), a separate $5 million 2025 roster bonus and a $10 million 2026 roster bonus.

$10.5 million of his 2026 P5 (base salary) salary fully guarantees on the fifth league day of 2026 (injury guaranteed at signing).

If Higgins is on the roster on the fifth league day of 2027, he will earn another $5 million roster bonus.

Annual Per-Game Active Bonus: $2 million ($117,647 per game)

Annual Playing Time Incentives: If Higgins plays 65 percent of regular-season offensive snaps and the Bengals win the AFC Championship, he will earn a $1 million bonus, but if the Bengals win the Super Bowl (and Higgins plays 65 percent of the regular-season offensive snaps), that number increases to $1.7 million.

Cap Breakdown

Tee Higgins will take on a higher cap hit than teammate Ja’Marr Chase in both the 2025 and 2026 seasons. His salary cap calculations include his P5 salary, roster bonuses and workout bonuses. His total cap hit in each year of this deal takes a jump. In 2028, his cap hit will account for nine percent of the Bengals’ total cap space.

Cap Hit by Year (Wide Receiver Rank)

- 2025: $24.06 million (6th)
- 2026: $26.75 million  (11th)
- 2027: $30.05 million (7th)
- 2028: $33.55 million (7th)

Cash Breakdown

Tee Higgins’ contract with the Bengals features a front-loaded cash flow structure, ensuring he receives a significant portion of his money early in the deal. He earns $20 million just days after signing through a 2025 offseason roster bonus, boosting his first-year cash total. In 2026, he’s due another $10 million in a fully guaranteed offseason roster bonus, followed by a $5 million bonus in 2027. Alongside these lump-sum payments, Higgins can earn up to $2 million annually in per-game active roster bonuses from 2025 through 2028. This structure rewards early performance and availability while giving the team financial flexibility in future seasons.

Cash Flow by Year (Wide Receiver Rank)

- 2025: $35.9 million (2nd)
- 2026: $23 million (12th)
- 2027: $26.3 million (6th)
- 2028: $29.8 million (6th)

Contract Table

Market Comparison

Brandon Aiyuk—49ers

Aiyuk signed a four-year, $120 million extension with San Francisco right before the start of the 2024 NFL season. In 2024, Aiyuk recorded 25 receptions, 374 yards and zero touchdowns. His season was cut short to only seven games due to a torn ACL and MCL in their Week 7 matchup against the Chiefs. Aiyuk is currently the eighth highest-paid wide receiver in the league with an AAV of $30 million. This extension included $45 million guaranteed at signing, totaling about 38 percent of the contract value. It’s worth noting that Aiyuk had some massive guarantees that became fully guaranteed on April 1, 2025.

Tyreek Hill—Dolphins

Hill signed a three-year, $90 million extension with Miami during the 2024 offseason. In 2024, Hill recorded 81 receptions, 959 yards and six touchdowns. This extension gave Hill an AAV of $30 million, tied for the seventh highest among wide receivers. This deal included $54 million guaranteed at signing, a massive 60 percent of the total contract value. The cash flows for 2024 and 2025 are identical, sitting at $26.4 million and $27.6 million. Cash flow takes a huge jump to $36 million for the 2026 season due to a $29.9 million P5 salary. This makes Hill’s 2026 cap hit an astounding $51.89 million. It’s extremely unlikely Hill plays the 2026 season on that cap hit. He will likely be traded, extended or potentially even be released.

Jaylen Waddle—Dolphins

Waddle signed a three-year, $84.75 million extension with the Dolphins during the 2024 offseason. In 2024, Waddle racked up 58 receptions, 744 yards and two touchdowns. Waddle has a current AAV of $28.25 million, making him the 11th highest-paid wide receiver in the league. This upcoming season will be the last year of Waddles’ rookie deal, meaning this extension won’t kick in until the 2026 season. This extension included $35.9 million guaranteed at signing, which is about 42 percent of the total contract value. This is a backloaded contract with the last two years of P5 salaries coming out to about $49 million. However, portions of Waddles' 2026 and 2027 P5 salaries become fully guaranteed on the fifth league day in each year. Two void years were also included in the contract to spread out cap hits.

D.J. Moore—Bears

Moore signed a four-year, $110 million extension with Chicago during the 2024 offseason. In 2024, Moore recorded 98 receptions, 966 yards and six touchdowns. Moore has a current AAV of $27.5 million, making him the 12th highest-paid wide receiver in the league. A total of $43.65 million was guaranteed at signing, which comes out to about 39 percent of the total contract value. Cap hits and cash flow are spread out evenly in this extension, with little money tied to guarantees/incentives. However, Moore’s entire 2026 P5 became fully guaranteed on the third league day of this year. Depending on financial flexibility and receiver production, Moore could be released after the 2027 season, and Chicago would only take on a $4 million dead cap hit.

Final Thoughts

Overall, this is a great deal for Higgins as he cashes in with the team that drafted him. He likely left some money on the table, as a team like New England may have offered a higher average annual value. Either way, this remains a dominant offense with Joe Burrow, Ja’Marr Chase, Tee Higgins and Chase Brown leading the way.

This extension could lead to financial trouble for Cincinnati as they have a total of $551 million tied to the recent extensions of Burrow, Chase and Higgins. These three players alone will account for 32 percent of the Bengals’ total cap space in 2025. Tensions have already surfaced with standout edge rusher Trey Hendrickson, as he is still awaiting a new contract. Large investments like this put even more pressure on the front office to hit on draft picks and not rely on the free agent market.