NFL Rumors: Trey Hendrickson, Bengals 'Quietly' Talk Contract; Colts Linked to Trade

The Cincinnati Bengals and defensive end Trey Hendrickson have continued to "quietly" negotiate a new contract, according to ESPN's Jeremy Fowler.

Fowler reported Sunday on SportsCenter the Bengals are "trying to find a sweet spot," but the situation is complicated by their pursuit of long-term deals with wide receivers Ja'Marr Chase and Tee Higgins. Fowler added more insight into the trade talks, including a potential trade with the Indianapolis Colts:

"This one's complicated because Hendrickson does want a new contract well above $30 million per year. The Bengals have tried to sign him, they made him a contract offer. And I'm even told despite trade talks, they've had some reignited discussions with Hendrickson's people over the last few days, but it still hasn't gotten anywhere. It looks like the Bengals' priorities are those two receivers and that makes it tough for Hendrickson. So, he's certainly open to a trade at this point. I'm hearing the Bengals have not been overly eager to accept those trade calls and they've gotten them to look into it and really seriously entertain a trade here. It seems like they still want to try to find a way to keep him, but the question is do they have the cash to do it? One team I'm watching for is the Indianapolis Colts because there are just a lot of ties to Hendrickson. They need a pass rusher. His former coach at Florida Atlantic, Charlie Partridge, is the D-Line coach in Indy. His former defensive coordinator in Cincinnati, Lou Anarumo, is also in Indianapolis."

Per Fowler and colleague Adam Schefter, the total value for Chase and Higgins could hit $70 million or more annually. That would make it "really tough" to pay Hendrickson like one of the NFL's best pass-rushers.

The 2024 All-Pro is eligible to become a free agent in 2026 and his $15.8 million base salary for next year is a massive bargain. He has registered 57 sacks across four seasons with Cincinnati, and Spotrac pegs his market value at $31.5 million.

Understandably, Hendrickson would prefer to get his raise now rather than waiting until next spring.

The Bengals have given the 30-year-old and his representatives permission to explore his outside options, though they ultimately hold all of the cards in terms of whether a trade actually happens. Cincy has reportedly demanded a steep price in any swap.

Were Chase and Higgins to finalize their extensions, that would seemingly seal Hendrickson's fate one way or the other.

As Fowler said, it's hard to envision a scenario in which the Bengals would be paying Chase, Higgins, Hendrickson and quarterback Joe Burrow all top dollar and have enough left over to assemble a roster capable of winning a Super Bowl.

It increasingly looks like Cincinnati's options with Hendrickson will be either letting him play out his contract and leave as a free agent or trading him this offseason.