Two previous waves of Trey Hendrickson trade rumors emerged this year. The Bengals let the All-Pro defensive end seek a trade in March, but they set a high asking price. With no traction on an extension in August, trade buzz resurfaced. Again, Cincinnati did not budge far from its asking price — and the parties regrouped on a 2025 raise.
The Bengals are now 3-6, and their defense has not improved from a rough 2024 season. The team is now the first since the 1970 merger to score a combined 80 points in a two-game span and lose both contests. The second of those setbacks, though, came without Hendrickson in the lineup. But the Bengals are now close to falling out of contention. With Hendrickson not tied to the team beyond 2025, clubs are naturally interested in seeing (again) what it will take to pry the sack ace from Cincinnati.
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Even though we are halfway through the season and Hendrickson is a rental chip, The Athletic’s Dianna Russini indicates the Bengals are still informing teams it will take a first-round pick to add Hendrickson. Several teams — including the 49ers, Cowboys and Colts — have inquired, and it appears the Bengals will keep listening. The Eagles also asked on Hendrickson but moved to Jaelan Phillips.
That is a high cost for a rental chip — one that may scuttle any deal — even after Phillips brought back a third. Like Montez Sweat (who fetched the Commanders a second-round pick in 2023, Phillips is on a rookie contract and is in his mid-20s. Hendrickson will turn 31 before season’s end. Bradley Chubb fetched a first-rounder in a 2022 rental trade, and the Bengals are probably eyeing that as a comp. Chubb, though, was 26 when that Broncos-Dolphins trade unfolded. Miami extended Chubb soon after. Hendrickson has been seeking an extension for years, but the Bengals have been reluctant to include guaranteed money beyond Year 1 — a franchise sticking point that has caused drama in this relationship.
In March, it was believed the Bengals were asking for a first-rounder and more for Hendrickson. Teams viewed that as too steep. In August, it was believed Cincy had lowered its asking price. Though, nothing happened. The Bengals had even rejected a trade offer including a second-rounder and change before the draft. The sides then huddled up on a raise, which effectively tabled negotiations until 2026 — when a pricey franchise tag could be in play.
While tagging Hendrickson at $30MM-plus might be a long shot at his age, the Bengals used a tag on A.J. Green when he was 31. Dealing Hendrickson now would end the sides’ five-year partnership and give another team exclusive negotiating rights ahead of free agency. The Bengals, who were believed more likely to retain Hendrickson than dangle him in deals once again, are clearly still planning to place a high price on the decorated EDGE to pass on a potential tag and re-up talks.
A first-rounder will still be too steep, in all likelihood, for interested teams — especially now that Hendrickson has missed two of the past three games with a hip injury. It will be interesting to see if more comes from this, as a price drop could reignite this market. Hendrickson is not the only Bengal drawing interest, per Russini, and Outkick.com’s Armando Salguero adds the view inside the team’s building appears to be shifting toward listening to trade offers — including a potential Hendrickson swap. This echoes a recent report about increased flexibility on the Hendrickson front.
Hendrickson has four sacks this season and posted an NFL-high 35 between the 2023 and ’24 slates, but unless the Bengals reduce their asking price again, he will almost definitely finish a fifth season in western Ohio.
Well, if they really want to keep him
Ask for a first round pick and force the receiving team to take their Defensive Coordinator too!
The latter is a real deal breaker!
I would think!
1st round pick for an 8 game rental? Kinda says all you need to know about the Bungles as an organization.
Desperation play. What a shame to have so much talent on the ofensive side that a recently acquired backup can lay 42 points on opposing teams while the dumpster fire of a defense gives up 47. No fixing that team without a complete reset.
Any team willing to part with a 1 must have a solid plan and cap space to extend him. No one is renting for a 1st. Maybe a 3rd at best for a rental.
It’s stupid to expect it. You can ask but to hold on to him for it when you’re not going to sign him. This is when they do get stupid.
Technically a rental but not really. Acquiring team could tag him next year. He’s basically on a 1 year contract with a team option for 2026.
Still a rental. Theoretically, any player can be tagged the next year unless he has contract language that specifically prohibits that option.
I think the restructure during camp said no tags. I don’t know if it is Bengals can’t tag or any team can’t tag.
I assume the acquiring team will still have to follow the no tag rule.
So the logic here is “I have a winning lottery ticket but I want to trade it for a lottery ticket that may or may not prove to be a winner”.