Trey Hendrickson is looking for a new contract from the Bengals. What are the numbers going to look like?
The biggest storyline for the Cincinnati Bengals this offseason hasn’t been a flashy signing or major departure — it’s the lack of clarity surrounding Trey Hendrickson’s contract situation.
Hendrickson has held out the entire offseason in search of a new contract, as he has just one year and $16 million remaining on his current deal.
The 30-year-old pass rusher has been a sack machine over the past two years, posting 35 sacks to go with 89 tackles, 35 tackles for loss, nine batted passes, and five forced fumbles. He’s also single-handedly carried Cincinnati’s pass rush, accounting for 162 pressures over the last two years, easily more than double that of the second-best player on the team.
Last week, ESPN’s Jeremy Fowler revealed that the Bengals and Hendrickson ‘are not any further along’ despite resuming extension talks. The dispute is only getting further emphasized with training camp around the corner.
Now, trade rumors are swirling, but the Bengals have a dire need for Hendrickson on defense, which is why an extension is paramount sooner rather than later.
With the edge market continuing to explode, what could a long-term contract for Hendrickson look like?
Baseline numbers for a Trey Hendrickson Bengals contract
The edge rusher market has completely exploded this offseason, with stars like Myles Garrett, Danielle Hunter, Maxx Crosby, and others getting major extensions.
Garrett’s deal topped the pack at four years and $160 million with $123.6 million guaranteed. Hunter received a hefty one-year, $35.6 million extension on top of the two-year, $49 million contract he had signed with the Houston Texans in free agency last offseason.
And Crosby elected for a three-year deal worth $106.5 million, getting $91.5 million guaranteed. That came on top of his four-year, $94 million rookie extension, keeping him in Las Vegas through the 2029 season.
Those are the numbers to look at for Hendrickson, although it’s notable that his age is higher than that of his counterparts, other than Hunter. Outside of the Texans pass rusher, every edge rusher in the Top 15 of average annual value was under 30 years old when signing their last deal.
Hendrickson will be entering his age-31 season, so that massive four-year extension is likely not in the cards.
So, let’s project what that deal will be.
Projecting a Trey Hendrickson contract with the Bengals
The Bengals likely cost themselves significant money by dragging the Hendrickson extension this far along, given how the market has continued to jump this offseason.
Hendrickson seems determined to hold out until his new contract comes in, looking for long-term security and guaranteed money.
At this stage, given his age and where the Bengals stand, a two-year extension may be the most realistic outcome for the two sides. In that outcome, Cincinnati wouldn’t be exposed long-term to an expensive contract for an aging pass-rusher, while Hendrickson would get immediate guaranteed money and become one of the higher-paid edges in the NFL.
Given the shorter-term part of the deal, I think Hendrickson’s annual value would be around or slightly surpass that of Danielle Hunter, given they’re the same age and have similar production.
The guaranteed money would be the big factor. Hunter got $48 million guaranteed of his $55.2 million in cash over the next two years. With Hendrickson, the Bengals can afford a large signing bonus to prorate over three seasons (his current year + 2 extension years) and void years if need be. (Though Cincinnati has not traditionally taken advantage of these salary cap manipulations on deals for other big-name players, so we shall see.)
Projection: 2 years, $72 million, $48 million in total guarantees
