The Cincinnati Bengals have placed a second franchise tag on WR Tee Higgins. The move comes with a $26,179,200 price for the upcoming season, which represents 120% of his 2024 tag figure. The salary won't become guaranteed until Higgins actually signs the tag, a move he is not expected to make anytime soon as he seeks a multi-year extension from the team.
Despite not being signed, the Cincinnati must factor the tag into their Top 51 cap space for the new league year. The Bengals currently possess around $43.8M of room (including the tag figure).
Cincy may now look to shop Higgins, or workout an extension before July 15th (the deadline to extend a tagged player).
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The Philadelphia Eagles will designate S Darius Slay a Post 6/1 release next week, moving on from the 6x Pro Bowler before the final year of his contract. The 34-year-old was set to earn $16M in 2025, after reeling in $23.15M over the past two seasons.
Instead, Philly will keep his $13.78M cap hit on the books into June, then take on dead hits of $9.456M in 2025, and another $13.294M in 2026. The move will free up $4.324M of cap space once June gets here, but Slay will become a free agent as soon as the designation is processed (next week).
The Eagles currently carry around $17M of Top 51 cap space into March.
The Cincinnati Bengals made a significant move Monday, releasing starting guard Alex Cappa before the start of the 2025 league year. The 30-year-old was slated to earn $8M in the final year of his contract.
Instead, Cincy takes on a $2.25M dead cap hit, freeing up that $8M in space. The Bengals now boast just under $70M of Top 51 Cap space this offseason.
Joe Highsmith wins Cognizant Classic in The Palm Beaches. Highsmith earns $1.66 million million bringing his 2025 on-course earnings to $1.77 million and his career on-course earnings to $3.11 million.
Cognizant Classic in The Palm Beaches Top 10 Payouts
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The 49ers are prepared to make the first big splash of the offseason, agreeing to a trade that will send WR Deebo Samuel to the Washington Commanders in exchange for a 2025 5th round pick (projected to be #148 overall). We’ll dive into a few of the facts, figures, & conditions here.
NOTE: We won’t be processing this trade on Spotrac until it becomes official. (likely March 12th).
The Traded Contract
Samuel brings a 1 year, $17,550,529 contract with him to Washington. This includes a minimum $1.17M base salary, per game active bonuses up to $750,000, a $200,000 workout bonus, and a $15,430,525 option bonus. This option bonus must be exercised by March 21st in order to keep the cap hits spread out over 5 seasons. Assuming this occurs, Samuel will carry a $5.206M cap hit in Washington for the upcoming season, with $12.34M of voidable dead cap pushed into 2026.
If the Commanders choose to decline the $15.4M option bonus, that entire amount will be added to his $1.17M base salary, raising his 2025 cap hit to $17,550,525.
All of this of course assumes that Washington and Samuel don’t agree to a new or restructured contract once the move becomes official.
Cap Hits (Option Exercised)
2025: $5,206,105
2026: $12,344,420 (void dead cap)
Cap Hit (Option Declined)
2025: $17,550,525
The Commanders enter March with around $83M of Top 51 cap space, so they certainly have the means to choose either path here. It’s perfectly plausible that the two sides agree on some form of mini-extension to lock in some guaranteed money, and make this more of a small-term marriage than just a quick date.
San Francisco’s Dead Cap
The 49ers will assume $31,020,600 of dead cap in 2025 once the trade processes. All of this cap stems from previously paid out bonuses (an original 2022 signing bonus, a 2023 option bonus, & a 2024 salary conversion).
This represents a $15,195,095 loss of cap space for San Francisco this season, as they previously had Samuel on the books for $15,825,505 (now $31,020,600). The highest cap hit on the 49ers books for 2025 is currently Fred Warner, at $29,174,000. There’s a very good chance Samuel holds that belt when the dust settles this offseason.
Prior to the trade, the 49ers entered March with around $51M of Top 51 cap space. That stands to drop to around $36M once this trade is processed (-$15M).
Anthony Edwards receives a one-game suspension for receiving his 16th technical foul during the Timberwolves-Lakers game on Feb 27th, 2025.
Edwards will lose $242,939 for the one-game suspension.
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Since the ratification of the 2020 CBA, NFL 1st Rd 5th-Year option values have been tied to Playing Time & Pro Bowl selections. We'll take a run down the entire first round, making note of the player's status in terms of 3-year playing time (see below), any (initial) Pro Bowl selections, & a projected cost for their 2026 option salary. All 5th-year options must be decided by May 2025. Per this latest CBA, the salary becomes fully guaranteed as soon as it's exercised.
TIER 1: A player is selected to two or more Pro Bowls. The 5th-Year Option price is the same as the franchise tag salary at their position from the previous year.
TIER 2: A player is selected to one Pro Bowl. The 5th-Year Option price is the same amount as the transition tag salary from the previous year.
TIER 3: A player takes 75% of the team’s offensive or defensive snaps in 2 of their first 3 seasons, OR 50% of the snaps played in each of the 3 seasons, OR a 75% average over all three seasons. The 5th-Year Option price is the 5-year average of the 3rd-20th highest paid players at their position.
TIER 4: A player does not meet any of the above criteria. The 5th-Year Option price is the 5-year average of the 3rd-25th highest paid players at their position.
Pick | Team | Player | POS | Status | 2026 Option Salary |
---|---|---|---|---|---|
1 | JAX | Travon Walker | OLB | Tier 3 | $14,751,000 |
2 | DET | Aidan Hutchinson | DE | Tier 2 | $19,872,000 |
3 | HOU | Derek Stingley Jr. | CB | Tier 2 | $17,595,000 |
4 | NYJ | Ahmad Gardner | CB | Tier 1 | $20,187,000 |
5 | NYG | Kayvon Thibodeaux | OLB | Tier 3 | $14,751,000 |
6 | CAR | Ikem Ekwonu | LT | Tier 3 | $17,560,000 |
7 | NYG | Evan Neal | T | Tier 4 | $16,685,000 |
8 | ATL | Drake London | WR | Tier 3 | $16,817,000 |
9 | SEA | Charles Cross | T | Tier 3 | $17,560,000 |
10 | NYJ | Garrett Wilson | WR | Tier 3 | $16,817,000 |
11 | NO | Chris Olave | WR | Tier 4 | $15,493,000 |
12 | DET | Jameson Williams | WR | Tier 4 | $15,493,000 |
13 | PHI | Jordan Davis | DT | Tier 4 | $12,938,000 |
14 | BAL | Kyle Hamilton | S | Tier 1 | $18,601,000 |
15 | HOU | Kenyon Green | T | Tier 4 | $16,685,000 |
16 | PHI | Jahan Dotson | WR | Tier 3 | $16,817,000 |
17 | LAC | Zion Johnson | G | Tier 3 | $17,560,000 |
18 | TEN | Treylon Burks | WR | Tier 4 | $15,493,000 |
19 | NO | Trevor Penning | RT | Tier 4 | $16,685,000 |
20 | PHI | Kenny Pickett | QB | Tier 4 | $22,117,000 |
21 | KC | Trent McDuffie | CB | Tier 3 | $13,632,000 |
22 | GB | Quay Walker | LB | Tier 3 | $14,751,000 |
23 | BUF | Kaiir Elam | CB | Tier 4 | $12,682,000 |
24 | DAL | Tyler Smith | G | Tier 2 | $21,271,000 |
25 | BAL | Tyler Linderbaum | C | Tier 1 | $23,402,000 |
26 | NYJ | Jermaine Johnson | DE | Tier 4 | $13,922,000 |
27 | JAX | Devin Lloyd | LB | Tier 3 | $14,751,000 |
28 | GB | Devonte Wyatt | DT | Tier 4 | $12,938,000 |
29 | NE | Cole Strange | G | Tier 4 | $16,685,000 |
30 | KC | George Karlaftis | DE | Tier 3 | $15,196,000 |
31 | CIN | Daxton Hill | S | Tier 4 | $9,267,000 |
32 | MIN | Lewis Cine | S | N/A | Released |
RELATED:
2022 NFL Draft Tracker
The Kansas City Chiefs appear poised to place a $23.4M franchise tag on pending free agent guard Trey Smith. This figure usurps Landon Dickerson's current $21M APY as tops among guards, setting Smith up to sign a record-setting multi-year extension this offseason. The deadline to extend tagged players is July 15th (even if the player is traded in the meantime).
The Chiefs enter March with around $8M of Top 51 cap space, so they'll have work to do to fit in this tag figure alone.
The NFL has announced that the 2025 Salary Cap will be set at $279.2M, a 9.32% increase ($23.8M) over last year's number.
Related Links:
2025 Team Salary Cap Tracker
NFL Cap History
The MLS released the 2025 Club Roster Profiles which include squad (Senior, Supplemental) and roster designations (Designated, U-22, TAM).
View full roster profile via MLS here.