Ja'Marr Chase Rumors: Bengals WR Expected to Land $40M AAV Contract amid Higgins Buzz

The Cincinnati Bengals reportedly already decided to place the non-exclusive franchise tag on wide receiver Tee Higgins this offseason, and it sounds like they will be on the hook for an even bigger payday for fellow wideout Ja'Marr Chase.

Jordan Schultz of Fox Sports reported that Chase "will command at least $40 million per season" for his impending contract extension, so the Bengals are now "staring at the league's first $40 million wide receiver."

The 2025 season is the final year of Chase's current contract, and he's set to make $21.8 million on the fifth-year option of his rookie deal. He held out for the majority of training camp prior to the 2024 campaign over his desire to receive a contract extension back then, but the two sides failed to reach an agreement.

Schultz reported that Chase "was very, very close to getting a deal done before last season began," and multiple sources said he "was even willing to sit out the team's first couple of games." The 24-year-old ultimately played the full season and put forth the best year of his young career, winning the triple crown after leading the league with 127 receptions, 1,708 receiving yards and 17 receiving touchdowns.

Cincinnati will have to reward Chase in a big way if it wants to keep him happy. Minnesota Vikings receiver Justin Jefferson, who was Chase's college teammate at LSU, set the mark last year when he signed a contract extension with an average annual value of $35 million, so it's pretty much guaranteed that Chase will be hoping to substantially exceed that figure.

Meanwhile, retaining Higgins will also prove costly for the Bengals. If he plays under the franchise tag for the second straight year in 2025, he would garner a guaranteed salary of $26.3 million, per Over The Cap. Schultz noted that league sources believed Higgins "could have gotten upwards of $30 million on the open market," so Cincinnati would have to make another major financial commitment if it wants to keep him in the fold long term.

The impending deals for the Bengals' receiver duo would be on top of the $55 million yearly salary for star quarterback Joe Burrow. Cincinnati's expenses on the offensive side of the ball could create an untenable situation as the team tries to build a roster capable of contending for a Super Bowl title.