Why the Bengals Letting Trey Hendrickson Explore Trade Options Is the Right Move

CINCINNATI – One week after Cincinnati Bengals director of player personnel Duke Tobin stood at the podium at the Combine in Indianapolis insisting his preference was to Trey Hendrickson to an extension, the team gave the defensive end permission to seek a trade.

What changed?

Not enough.

The last thing Tobin said after being asked about Hendrickson was this:

“We're gonna talk as the offseason goes and hopefully come up to an agreement that everyone's acceptable of. But are we there yet? We're not there yet.”

That chasm between offer and demand never narrowed.

And it may have actually widened after the Las Vegas Raiders gave Maxx Crosby – who had 10 fewer sacks than Hendrickson in 2024 and 14.5 fewer over the last four seasons – a three-year, $106.5 million contract.

Hendrickson wants money in that range. And why wouldn’t he?

He’s far outplayed the contract he signed in 2021 and the extension he inked last year, which would pay him a base salary of $15.8 million this year.

That’s a laughable pittance for someone who posted back-to-back seasons with 17.5 sacks and led the league in that category in 2024 while earning an All-Pro nod and finishing second in Defensive Player of the Year.

But Hendrickson is 30. He’ll be 31 before the 2025 season concludes.

The cliff is coming. Everyone knows it. But no one knows exactly when.

This isn't just about clearing cap space.

It's betting that Trey will not play at a level equal to the kind of money he wants.

In 2018, the Bengals gave Geno Atkins young-man money at 30 years, 153 days. They got 14.5 more sacks for $65.3 million.

Trey is 30 years, 91 days.
— Jay Morrison (@ByJayMorrison) March 6, 2025

The Bengals are playing the odds.

Trading Hendrickson is like doubling down on 11 in blackjack.

Extending him with Crosby-like money would be like splitting 10s.

There are no guarantees either way, but it’s obvious to most what should be done.

In addition to playing the odds, the front office also might be playing some old home movies.

Remember back in 2018 when they signed Carlos Dunlap and Geno Atkins to massive extensions on the same day?

They gave Atkins $65.3 million over four years.

He gave them another 14.5 sacks before his body shut down.

Atkins was 30 years and 153 days old when he signed that extension.

Hendrickson is 30 years, 91 days old.

Plus, Hendrickson hasn’t been the easiest player to deal with. He threatened to hold out in 2023, only to sign a one-year extension.

He asked for another extension last year even though he wasn’t eligible for one by NFL rules, so he requested a trade instead.

Hendrickson gave the Bengals their only semblance of a pass rush in 2024 when the defense wasted an MVP-level season by quarterback Joe Burrow and a Triple Crown performance from wide receiver Ja’Marr Chase.

That cost defensive coordinator Lou Anarumo his job, and subsequent moves have continued a teardown of the front seven.

Longtime fan favorite defensive end Sam Hubbard retired Wednesday. The team cut defensive tackle Sheldon Rankins last month. Defensive tackle B.J. Hill is a free agent. Linebacker Germaine Pratt will either be traded or released.

Letting Hendrickson explore trade options is the right move for multiple reasons.

First, he might find out his market value isn't what he thinks it is and be forced to come back to the Bengals to negotiate with new parameters.

Or, if Hendrickson finds a trade-and-sign deal with a new team, Cincinnati should get at least a second-round pick for him, and this draft is loading with pass-rushing talent both on the edge and the interior.

Plus, the the Bengals will save $16 million in cap space.

That won’t necessarily be used to sweeten the pot for Tee Higgins and/or Ja’Marr Chase. The Bengals aren’t dragging out those negotiations because they can’t afford what the receivers are asking.

They simply aren’t willing to pay what’s being asked. Knowing where things stand with Hendrickson will give them a little more flexibility to come off their price point and, more importantly, ratchet up the urgency to try to at least get Higgins done before free agency starts next week.

Most of the cap savings from Hendrickson will be flipped into adding more defensive players in free agency.

Yes, it’s jarring to let the NFL sacks leader out of the building.

It’s something that hasn’t happened since 2007, when the Kansas City Chiefs let Jared Allen and his 15.5 sacks go to the Minnesota Vikings.

The last player to lead the league in sacks and then play for a new team the following year was Jared Allen.
Allen had 15.5 sacks for the Chiefs in 2007 and signed with the Vikings in 2008 at the age of 26.

Played 9 mores years, got 93 more sacks, went into the Hall of Fame.
— Jay Morrison (@ByJayMorrison) March 6, 2025

Allen was 26 and played eight more seasons with 93 more sacks on his way to the Hall of Fame.

Hendrickson is 30.

Edge rushers are a different breed these days. They are some of the freakiest athletes on the field, melding power, speed, bend and explosion.

No matter how well an athlete takes care of his body, some of those traits are never going to hold up after 30.

Offensive tackles can do it. Quarterbacks, too.

But edge rushers are different.

There’s only been one player in the last 11 seasons to record as many sacks as Hendrickson did last year.

Robert Quinn had 18.5 for the Bears at age 31.

There have been only six others to even get to 13 sacks after age 30.

Khalil Mack, Chargers, 17 – 2023

Matthew Judon, Patriots, 15.5 – 2022

Cameron Jordan, Saints, 15.5 – 2019

Ryan Kerrigan, Washington, 13 – 2018

Calais Campbell, Jaguars, 14.5 – 2017

Everson Griffin, Vikings, 13, -- 2017

Trade Hendrickson, get younger and let that group grow and mature under new defensive coordinator Al Golden.

With what should be four selections in the top 81 picks can go a long way in rebuilding the defensive line while continuing to develop recent premium picks Myles Murphy (first round, 2023), Kris Jenkins (second round, 2024) and McKinnley Jackson third round, 2024).

Murphy has been a disappointment thus far, but a lot of that has been tied to playing time. He showed some flashes toward the end of last season, and there was plenty of optimism surrounding rookies Jenkins and Jackson.

Expecting Hendrickson to continue to produce the way he has the last three years over the next three years would be a big mistake.

Paying him that way would be catastrophic one.

For more on the Bengals, subscribe to our YouTube Channel.

Make sure you bookmark BengalsTalk.com for the latest Bengals news, exclusive interviews, film breakdowns and so much more!