Hendrickson, Higgins, and Chase

[cincygrad]

I don't think the issue is cap space. This team was bought for a few million dollars back in the day. They are not a family of billionaires from other means. All their wealth comes from this team alone, and while that is substantial, they are cash poor I am sure.

So the real issue becomes guarantees and signing bonuses.

Chase rejected their offer last year, even though they were giving him $36 million, because of the guarantees and timing of bonuses. It was not about the overall money, Chase was fine with that.

Now, if Chase wants, say $40 million a year, $200 million for 5 years, and he wants $140 million guaranteed.....ALL $140 million of that is due up front by the Bengals. All $140 million has to be surrendered to an account that the Bengals nor the player can touch, and it only gets triggered to the players account as determined by the contract signed. But, the Bengals have to pay the entire thing up front to that account.

They just gave Burrow a crazy amount last year and will continue to pay as those triggers occur with roster bonuses, etc.

So now you are looking at:

Chase 5 years / $200 million ($140 million guaranteed)
Higgins 4 years / $112 million ($75 million guaranteed)
Hendrickson 3 years / $90 million ($80 million guaranteed)

In order to get all 3 of these guys signed, they would have to shell out almost $300 million dollars right now to multiple accounts. Do the Bengals have $300 million laying around in cash to get rid of right now? Maybe. How does that wreck other accounts that require that money to keep the facility and staff running? No idea. Just saying, if you are not a self made BILLIONAIRE outside of this ownership, probably hard pressed to find $300 million laying around....Pittsburgh in the same boat. Small cities, small markets, old owners.

The Bengals are generating over 100 million in profit after all expenses. This number was accurate before they increased their revenue streams via naming rights and other deals they have done in the community recently. It sounds like a lot to say they would have to shell out 300 million - But keep in mind that in any given year, a lot of this cash comes directly from the TV revenue - Not from the team's savings. Another factor to keep in mind is that over the last 20 years the family has quietly consolidated ownership so that the extended family owns over 95% of the team. If they truly feel that they are cash poor, they could easily find a minority owner with deep pockets that is willing to bring cash to the table in exchange for equity in the team. Hell, the NFL is a terrific investment for rich folks as it grows much faster than other opportunities. So, bottom line is that I don't feel sorry for the Bengals and you shouldn't either.

 

[cincygrad]

BTW - Maxx Crosby signed a deal today that will pay him an average of 35 million per year. This is going to drive up the renegotiated Myles Garrett deal and the Micah Parsons deal. If Duke Tobin is serious about making Chase the highest paid non-qb, he is going to have to get much closer or even over 40 million per year. Again, we don't need to be feeling sorry for the club - They can do deals earlier or pay the new price.

 

[BKBroiler9000]

Don’t remotely feel sorry for the Blackburns. They ARE NOT poor.

They are stupid, ignorant and stubborn. Every contract negotiation is contentious and unnecessarily painful.

Tee should’ve been signed after 2022. Chase should’ve been done last summer. They’ve had well over a year to get Trey a raise before the monster Crosby deal came down.

They deserve every single ounce of criticism for waiting until now to figure it out. They deserve all the heat when they inevitably don’t get these deals done.

There is no more hiding their broken, archaic ways. The media, the players, and the fans have exposed the lie. Get these players signed. Or sell to someone who will.