The Cincinnati Bengals will largely dictate how the entire NFL's free agency period looks in 2026. They have the most prized asset due to hit the open market in superstar pass rusher Trey Hendrickson.
Unfortunately, the Bengals couldn't agree to terms on a multi-year contract extension with Hendrickson this past offseason. That means he's liable to be franchise tagged and entrenched in another standoff with the front office over his future in Cincinnati.
ESPN insiders Jeremy Fowler and Matt Bowen just released a top-25 list of pending free agents, with Fowler saying the following about Hendrickson, who checked in at No. 1 on the hierarchy:
"Rarely does an elite pass rusher hit free agency. The Bengals have the option to franchise-tag Hendrickson at around $36 million. That's steep for a team in transition but could be a way to facilitate a sign-and-trade. Seven pass rushers make at least $34 million per year, and Hendrickson could become the next one."
My take is that the Bengals should let Hendrickson walk for nothing. Do right by the player.
And the $30+ million that it'd take to tag Hendrickson can be used on multiple other salaries to still come away as big free agency winners. Let's break down how that's even possible, shall we!?
Upgrade defensive end depth by retaining no one & mid-market shopping
Joseph Ossai and Cam Sample, you're gone. They're mid-round draft picks by the Bengals who haven't panned out at all.
It was ridiculous to think Ossai was worth the $6.5 million Cincinnati shelled out to keep him. It was ridiculous to think Sample would do anything coming off a torn Achilles.
Had the Bengals not squandered a 2023 first-round pick on Myles Murphy, I'd say let him go, too. At least they can decline his fifth-year option. And to be honest, I'm ready to give up on the latest Day 1 selection, Shemar Stewart, but that's unrealistic.
My starting point for mid-market shopping on the edge is Arnold Ebiketie. The Atlanta Falcons standout saw his team draft Jalon Walker and James Pearce Jr. in the first round at his position. Writing's on the wall that he's out of there. Ebiketie is a freak athlete who wasn't set up for success as a rookie, yet had six sacks in each of the past two seasons.
Low usage, solid durability, and starting-caliber play when he has had opportunities suggest Ebiketie's best football is in front of him. I advocated trading for Ebiketie around the deadline. He could be had at around $10 million per year as a free agent.
Poach multiple studs in the trenches from AFC North rival
I'm actually not talking about Baltimore Ravens center Tyler Linderbaum. The Bengals have developing players at the position in Matt Lee and Seth McLaughlin, plus a solid starter in Ted Karras who's inked through next season.
This is about the Ravens' defensive trenches, and continues the point of mid-market shopping for pass rush help. Dre'Mont Jones recorded 4.5 sacks for the Titans before Baltimore traded for him earlier this month.
He's lined up more on the edge in recent years, but Jones has the versatility to kick inside and flourish. The 28-year-old already has 35 sacks in six-plus seasons.
Then we have Travis Jones, the mammoth defensive tackle who ranks 28th in PFF's grades at his position. For a little context there, Cincinnati gets the most snaps on the interior d-line from B.J. Hill (55th), Kris Jenkins Jr. (97th) and T.J. Slaton (118th).
What better way to improve an atrocious defense than to steal straight from the mighty Ravens?
Take at least one big swing to boost the DJ Turner-led secondary
DJ Turner is emerging as a lockdown cornerback. Thank goodness, because the Bengals' 2025 defense has little else to hang its figurative collective hat on.
Speaking of hurting archnemeses, Jaylen Watson is having a monster contract year for the Kansas City Chiefs. Unless the reigning AFC champs can't find a way to pay big money for Trent McDuffie, which I assume they will, Watson is a prime candidate to sign elsewhere.
In any event, I'd love to see a solid CB2 or someone at Turner's level join the secondary in Cincinnati, be it at safety or corner. Other appealing candidates from KC and Baltimore include Chiefs safety Bryan Cook and the Ravens' Alohi Gilman.
Not many teams are playing better than the Seattle Seahawks as of Week 10. I'm very partial to size-speed freakazoid boundary corner Riq Woolen, or underrated ex-Cincinnati Bearcat Coby Bryant for either safety spot to supplant pending free agent Geno Stone.
Find one more decent piece anywhere on offense
Whether it's a fringe starter offensive lineman, a surer WR3/PC3 (No. 3 pass-catcher), or a dynamic change-of-pace back, it'd be nice for the Bengals to add one more weapon. And I include offensive linemen as weapons, to invoke the great Jim Harbaugh.
Andrei Iosivas and Mitchell Tinsley are solid candidates for the WR3 spot. Mike Gesicki's injury-obscured 2025 campaign probably makes this less of a pressing need than it appears.
Nevertheless, I could see Cincinnati taking a flier on some interesting pieces. Falcons tight end Kyle Pitts could really benefit from playing alongside Joe Burrow, flanked by the likes of Ja'Marr Chase and Tee Higgins. Imagine the matchup nightmares Pitts could (theoretically) create.
Speaking of the Dirty Birds, RB2 Tyler Allgeier is more of a starting-caliber back who just happens to be behind the elite Bijan Robinson. Allgeier may want a shot at a more certain starting role rather than a timeshare with Chase Brown, but hey, limiting the tread on one's tires and playing for an elite offense in Cincinnati could be selling points to get Allgeier to jump aboard.
Another half of a dynamic backfield duo comes from Seattle in Kenneth Walker III. He's a supreme talent who's never quite found his stride. I'd love to see what he could do with the Bengals passing attack opening up so many running lanes for him.
I'm not convinced Cincy's offensive line is solved. Right guard still leaves a lot to be desired. That's where retaining depth veterans like Dalton Risner and Lucas Patrick on minimal deals would be huge.
Other outside targets to eye up include the Chargers' Harbaugh-coached Jamaree Salyer and Panthers center Austin Corbett, whose history is mostly at right guard. Either man is a major improvement over fifth-round rookie Jalen Rivers as things stand.
Why franchise tagging Trey Hendrickson is the wrong move for Bengals' free-agent outlook in 2026 and beyond
If you're picking up what I'm putting down, the estimated $36 million the Bengals could spend to franchise tag Trey Hendrickson could instead be spent on the acquisitions of, say, Dre'Mont and Travis Jones, Riq Woolen, and Arnold Ebiketie for only about $15 to $20 million above that price.
That'd still give the Bengals somewhere near $20 million in cap room to play with.
They could create more room by restructuring the contracts of Burrow, Chase, or Higgins as well. An estimated $13 million for either receiver, or over $19 millon for Burrow, per OverTheCap.com.
Letting Hendrickson walk for nothing would hurt, but being free of the drama would be best for all parties. Plus, if he is tagged, the Bengals would have the chance to match any offer sheet a team would give him, or it'd require two first-round picks to Cincinnati in a prospective trade. Who's going to pay that price? And do we really want an unhappy Hendrickson stuck in a Bengals uniform?
I'd rather avoid that outcome, as great of a player as Hendrickson is. Because at a certain point, Cincinnati has to be ingratiating as possible toward players past, present and future. Otherwise, winning free agency in any given year, even with the appeal of Joe Burrow as the face of the franchise, will prove impossible.