Cris Carter Says the Bengals Will Have to “Tear Up” Their Business Model to Keep Tee Higgins and Ja’Marr Chase

It is time for Cincy to pay a big fat bag to both Ja’Marr Chase and Tee Higgins. But that’s gonna prove to be a challenge considering the WRs could command up to $70 million combined while the Bengals only have $46 million in cap space. So what would they have to do to keep both of them? According to Cris Carter, they need to shake up their entire business model.

The NFL as a whole lags behind other leagues when it comes to guaranteed contracts, and the Bengals are among the worst in that regard. Their reluctance to fully guarantee deals has likely contributed to their struggles since the 1990s, a period marked by losing seasons and repeated playoff failures.

That changed with the arrival of Joe Burrow, Ja’Marr Chase, and Tee Higgins. So if their fortunes have changed, it’s about time their traditions do too. Cincinnati has never guaranteed money in the second year. They flouted that for Joe Burrow, and now Carter thinks they have to do the same for Chase and Higgins.

“Cincinnati is trying to do things they have never done before. They don’t guarantee in the second year…You have to throw away that model because you can’t sign Chase and Higgins without guaranteeing money. So their business model, they’re going to have to tear that up,” he said on the Up&Adams show. 

If the Bengals want to avoid slipping back into mediocrity, they’ll have to pay up. One potential solution could be offering more guaranteed money in the second year of Chase and Higgins’ contracts, which might convince them to take a lower overall deal.

The challenge, however, is finding the money to keep both receivers. Cincinnati has been in a financial squeeze ever since Burrow’s massive extension, and while he’s the franchise centerpiece, his contract is a major factor in their cap issues. Now, the Bengals face tough decisions about how to structure their roster—and their finances—if they want to sustain their success.

Does Burrow’s contract make it impossible for the Bengals to pay top money to other players?

Joe Burrow signed a massive five-year, $275 million contract before the start of the 2023-24 season, with $219 million guaranteed. He now takes up nearly 17% of the Bengals’ salary cap, and since then, the team has struggled with cap flexibility. But it’s not just Burrow’s deal causing issues—contracts for Trey Hendrickson and Orlando Brown Jr. have also contributed to their financial squeeze.

Beyond player contracts, the Bengals‘ old-fashioned way of managing the cap is another major factor. Most teams create cap space by pushing cap hits into the future, but Cincinnati opted not to do that with Burrow’s deal. Instead, they treated it as a long-term investment and are building their roster around it.

The Bengals also lag behind the league average in “cash over cap” spending, which allows teams to spend more than the salary cap on paper by paying players more in cash upfront. Large signing bonuses and guaranteed money help teams achieve this because a signing bonus can be paid immediately while the cap hit is spread over the contract’s duration. Many teams also add void years to extend cap relief even further—something Cincinnati has largely avoided.

Another challenge is the franchise’s lower cash flow as a smaller market team, which limits its ability to maneuver financially. Their conservative approach in free agency adds to the issue, as they prioritize keeping their top players, resulting in a lopsided, top-heavy roster.

If the Bengals want to retain both Ja’Marr Chase and Tee Higgins, they’ll need to modernize their financial strategy. Chase will likely demand a record-breaking contract, but they can structure it with a large signing bonus and a low 2025 base salary to minimize the immediate cap hit. This would also create flexibility for Higgins, whom they could either re-sign or franchise tag again for $26 million. But are they desperate enough to be willing to do this for their star WRs?