There was a time this offseason when Joe Burrow’s Cincinnati Bengals were dubbed as Cheap’innati Bengals. Yeah, it made sense—Ja’Marr Chase and Tee Higgins were both angling for new deals, and the team seemed to be dodging them at every turn. Or maybe they were just waiting for the perfect moment? Well, fast forward, and both Chase and Higgins just landed big contracts. So, does that mean the whole contract drama is finally over? Not so fast.

See, besides Higgins and Chase, Burrow also wanted an extension for Trey Hendrickson. Speaking of which, the Bengals are hoping to do a deal with Hendrickson. The catch? Well, the DE is seeking a trade. On Monday, NFL Insider, Jordan Schultz, reported that the Bengals are not giving up on Hendrickson despite permitting him to seek a trade.

“The #Bengals, even after getting lucrative extensions done with Ja’Marr Chase and Tee Higgins, still hope to do a deal with Trey Hendrickson, despite granting him permission to seek a trade. It won’t be easy, but they are not giving up there,” he wrote in his official ‘X’ post. Translation?

Cincy is trying to find a sweet spot for their 30-year-old DE, but the situation is pretty complicated given they’ve already offered monstrous contracts to Chase and Higgins. On one hand, Chase has agreed to a 4-year $161 million deal, on the other, Higgins has secured a 3-year $115 million deal. But what about Hendrickson?

The Bengals have been trying to lock in Hendrickson, but the guy wants a long-term deal worth over $30 million a year. The problem? Cincy has already thrown big money at their wide receivers, which makes things tricky for Hendrickson considering their cap space is now reduced. That means only one thing—the DE is certainly open for a trade at this point.

The catch is that Cincy is still trying to find a way to keep him on the roster and they’re not eager to accept those trade calls. Now the big question: does Cincy have enough cash to extend Hendrickson’s contract? Considering their latest investment in their wide receiver corp, it’s pretty tough to offer a contract extension to one of the best pass rushers in the league.

On top of that, Hendrickson is eligible to become a free agent in 2026 with a base salary of $15.8 million this season. So yeah, it’s going to be a tough bargain for the Bengals if they decide to wait for another year. As for the DE, Spotrac reported his market value around $31,5 million. That said, it’s likely that the DE would prefer to get a raise now rather than a year later.

Would Cincy look into Joe Burrow’s demands for the DE?

Late in the regular season, Joe Burrow didn’t hold back—he wanted Ja’Marr Chase and Tee Higgins locked in with new deals for 2025. Well, fast forward, and the Bengals made it happen, locking both receivers in for the long haul. However, the QB also publicly urged the team to pay Mike Gesicki and Trey Hendrickson. That’s where things get pretty interesting.

You see, even before the front office extended their WRs contracts, the team already signed TE Mike Gesicki on a three-year contract extension through 2027. Gesicki signed as an unrestricted free agent last year and after recording 65 passes for 665 yards and two TDs, the front office decided to extend him through 2027. Well, at this point, we could say that when Joe Burrow speaks, the front office listens. The problem?

They’re still struggling to lock in Trey Hendrickson. According to ESPN’s Jeremy Fowler, it’s likely that Hendrickson would seek a trade rather than signing with the Bengals. Fowler’s prediction? He believes that the Indianapolis Colts might offer him a fancy deal in 2o25. And trust me, his prediction isn’t without merit.

“One team I’m watching for is the Indianapolis Colts because there are just a lot of ties to Hendrickson,” he said. “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.” That’s enough reasons for the Colts to negotiate a trade with Hendrickson, who’s now in the final year of his contract.

As for his track record, the guy has recorded 57 tackles across four seasons in Cincy. With Ja’Marr Chase and Tee Higgins cashing in on massive deals, the door is wide open for the Colts to beef up their pass rush by snagging Trey Hendrickson.