With free agency inching closer, things are beginning to take shape. The widow to use the franchise tag came, and the Jacksonville Jaguars were among the teams that opted not to use it, even though linebacker Devin Lloyd and running back Travis Etienne were viable candidates. That means several players are now slated to reach the open market. Pass rusher Trey Hendrickson is among the most notable ones.
Hendrickson will become a free agent for just the second time in his football career. Although he's coming off an injury-marred season, he should garner plenty of interest from teams in need of pass rush help. That said, his projected price tag could scare several suitors.
The Bengals didn't tag Trey Hendrickson, paving the way for him to test free agency
The Cincinnati Bengals chose not to tag Trey Hendrickson, so it's virtually a guarantee that he'll hit the open market. Bryan DeArdo of CBS Sports called the 2024 First-Team All-Pro nod a winner of the franchise tag deadline, noting that he'll finally get the contract he's been searching for dating back to 2023.
Hendrickson signed a four-year deal worth $60 million in 2021, which he outproduced by 2023. He rightly wanted a raise that reflected his status as one of the premier pass rushers in the league, but Cincy wasn't willing to cave, so they got into a stalemate. While the four-time Pro Bowl eventually had his contract adjusted, his relationship with the Bengals deteriorated beyond repair.
Couple that with the fact that Hendrickson dealt with a pelvic injury that limited him to seven games and four sacks last season, and it's not particularly surprising to see Cincinnati not use the franchise tag to keep him from leaving.
A third-round pick in 2017, Hendrickson has logged 74.5 sacks the past six seasons. Even though he'll be 31 this season, teams won't hesitate to make a bid for his services. Having said that, his projected salary demands should give the Jags pause. The former Florida Atlantic Owl has a market valuation of $25 million per year. That's cheaper than what the top pass rushers are making ($40 million), but it's by no means chump change.
Why the Jaguars may pass on Trey Hendrickson in free agency
There's no doubt that Trey Hendrickson would take the Jaguars' pass rush to the next level. He may be their best option aside from Maxx Crosby, and may even be a better alternative because they wouldn't have to give any kind of compensation to sign him.
The downside of making a run for Hendrickson is that even if the Jaguars manage to free up enough space to lock him up — they're currently $15.9 milion over the cap — signing him would severely limit their ability to address other needs this offseason.
Moreover, Jacksonville would have trouble extending 2022 first-round pick Travon Walker, who's entering a contract year. Sure, Hendrickson could wreak havoc alongside Walker and Hines-Allen, but the math would make it extremely challenging to sign him.
Simply put, the benefits of signing Trey Hendrickson probably won't outweigh the potential cons, so the Jaguars will likely explore other venues to address the pass rush.