With no contract resolution in sight, Trey Hendrickson’s desire for a new contract with the Bengals could result in the star pass rusher landing with a new team.
The All-Pro EDGE rusher’s hold-in with the franchise has continued weeks into training camp, and on Sunday, Aug. 17, reports surfaced that Cincinnati is now listening to trade offers for its disgruntled star, with several teams expressing interest.
Week 1 of the 2025 NFL season is weeks away, and with each passing day, the chances of Hendrickson taking the field in a Bengals uniform seem more unlikely.
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The Sporting News is tracking all the latest rumors surrounding Hendrickson, the 2024 sacks leader.
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Trey Hendrickson trade rumors
Hendrickson prepared to sit out 2025 season, hold up is over guaranteed money
With the Bengals set to take the field for a preseason edition of “Monday Night Football,” Hendrickson spoke on his current situation with ESPN’s Laura Rutledge. Rutledge reports that Hendrickson and the Bengals are close in agreement on the deal’s length and average annual value, but “The sticking point remains the guaranteed money in a potential extension.”
As such, Hendrickson “remains entrenched in his position on not playing in the upcoming season.”
Browns, Colts, Panthers have shown interest in trading for Hendrickson
Within 20 minutes of reports that Cincinnati is listening to trade offers, Carolina, Cleveland and Indianapolis emerged as teams that have shown interest, per Schultz. The report adds that a deal with the Browns is highly unlikely and outlines the Bengals’ desire for an impact player (or two) and a draft pick as the return for Hendrickson.
Bengals are listening to trade offers for Hendrickson
No progress has been made on contract talks, and Cincinnati has begun listening to trade offers for Hendrickson, according to a joint report from Rapoport and Pelissero. The report adds that “It’s unclear if the NFL sack leader will be playing elsewhere in 2025, and a trade will be a real challenge. But time will tell.”
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Will Bengals trade Trey Hendrickson?
Cincinnati listening to offers opens the door for a potential trade, but all reports indicate that a deal will be complicated.
Hendrickson, who is currently set to earn $15.8 million in 2025, is looking to be paid a salary closer to the league’s top pass rushers. His hold-in and the ensuing trade saga are products of a disconnect between Hendrickson’s representation and the Bengals organization.
With that in mind, however, two aspects could make executing a trade difficult.
Interested teams must be willing and able to put together a package that Cincinnati deems worthy of Hendrickson. Parting ways with impact players and draft capital is not something every team will do easily, and the Bengals are said to be seeking a young defensive player and a 2026 first-round pick, per The Athletic’s Dianna Russini.
Putting together a trade package is but half the battle, as whichever team were to land Hendrickson would also be making a major financial commitment to pay him the annual salary he seeks. In most cases, this will require restructuring other contracts and making savvy cap-related moves.
Trey Hendrickson landing spots
Colts
Indianapolis is a logical landing spot, to say the least.Â
The Colts’ newly hired defensive coordinator, Lou Anarumo, spent the past six seasons in the same role with the Bengals before being let go. That familiarity, coupled with Hendrickson’s success in the defensive scheme, is hard to ignore.
After an 8-9 campaign, Indianapolis is looking to get over the hump and get back to the postseason. A move for Hendrickson would do wonders in making that happen.
Panthers
Carolina had one of the NFL’s worst defenses in 2024, but a move for Hendrickson could quickly thrust the unit into the top half of the league.
It’s a prove-it year for Panthers’ defensive coordinator Ejiro Eviro, and adding Hendrickson to a unit that also features Derrick Brown and Jaycee Horn would give Carolina plenty of talent on that side of the ball.
The move may require some schematic changes, but off talent alone, adding Hendrickson and getting Brown back from a season-ending injury in 2024 would make the Panthers’ defense respectable and one capable of competing in a weaker division.
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Browns
There’s almost no chance Cincinnati trades its star pass-rusher to an in-state divisional rival, but kudos to Cleveland for inquiring.
It’s a pie-in-the-sky dream for Browns fans, but a pass rush featuring Hendrickson and Myles Garrett would be most terrifying in the league today and have the potential to be one of the scariest in league history.
Bears
It’s another familiarity play as Bears’ defensive coordinator Dennis Allen was in New Orleans during the early stages of Hendrickson’s career.
After recording just 40 sacks in 2024, Chicago’s pass rush could use a boost. History has shown that one of the best ways to support a young QB like Caleb Williams is to build a strong force on the other side of the ball.
Expect Chicago to at least make a call at some point
Trey Hendrickson contract projection
Hendrickson wants to be paid in the range of the league’s top pass rushers.
For comparison, Steelers star T.J. Watt inked a three-year deal worth $123 million ($108 million guaranteed) in July. The average annual value of Garrett’s contract is $40 million, Danielle Hunter’s is $35.6 million, Maxx Crosby’s contract averages out at $35.5 million annually and the AAV of Nick Bosa’s deal is $34.0 million.
With Hendrickson currently set to earn $15.8 million in 2024, it is fair to assume that the starting point for the new average annual value is twice what he is making, as that $31.6 million would place him among the NFL’s elite.
Hendrickson is 30, and $30 million is probably the low end of where negotiations would begin. The contract he seeks will likely also feature a high guaranteed figure for security.
