Source - Bengals WR Tee Higgins to sign franchise tender - ESPN

Wide receiver Tee Higgins is set to sign the franchise tag tender the Cincinnati Bengals offered him, according to a source. Higgins is set to make $10.93 million in 2023, according to ESPN's Adam Schefter. Higgins was selected in the second round of the 2020 draft by Cincinnati, and had a breakout season in 2021. Last season, he had 74 receptions for 1,029 yards and nine touchdowns, helping the Bengals reach Super Bowl LVI. The Bengals' decision to tag Higgins was expected, as they were unable to reach a long-term deal with the receiver before the deadline. The franchise tag gives the Bengals the option of negotiating a long-term deal with Higgins before the July 17 deadline. If they can't agree to a deal by then, Higgins will play the 2023 season under the franchise tag. Higgins' signing of the franchise tag makes him the third player to do so for the Bengals this offseason. Earlier in the offseason, the Bengals tagged defensive end Sam Hubbard and quarterback Joe Burrow. The Bengals are now in a good position to keep their core together going forward. The team is hoping to make another run at the Super Bowl with a healthy Burrow and a strong supporting cast around him. The franchise tag is a way for teams to keep a player under contract for one year, while they try to negotiate a long-term deal. It's a risky move for teams, as the player could be unhappy about not being able to sign a long-term deal, but it's a way to keep valuable players on the roster. Higgins' signing of the franchise tag is a positive development for the Bengals, as it allows them to keep a key part of their offense.

Summary

"Tee Higgins has agreed to sign the franchise tag tender offered by the Cincinnati Bengals. This means he will earn $10.93 million in 2023. This decision allows the Bengals to retain a key offensive player and continue to build around their young core. The franchise tag gives the Bengals time to negotiate a long-term deal with Higgins before the July 17 deadline. If they can't agree on a deal, Higgins will play the 2023 season under the tag."