One of the NFL’s top remaining contract sagas came to an end earlier today with Terry McLaurin and the Commanders reaching an extension agreement. No such deal is imminent in Trey Hendrickson‘s case, but efforts to work one out are again underway. 
Negotiations between the Bengals and Hendrickson’s camp have resumed, NFL insider Jordan Schultz reports. As of last weekend, a continued lack of traction in extension talks led to a new round of trade calls coming in. A swap would come as a surprise this late in the offseason, of course, so attention is still aimed at the ability of both parties to reach at least a short-term compromise.
With guarantees beyond Year 1 of any long-term extension remaining a sticking point from Cincinnati’s perspective, a “unique” arrangement could be in store. Per Schultz, discussions have taken place about a raise covering 2025 which would still allow for Hendrickson to reach free agency next spring. As things stand, the reigning sack leader is owed $16MM on the final year of his pact.
In 2023, Hendrickson agreed to a bump in pay which came about with one new year being added to his pact. That arrangement has been followed by multiple unsuccessful attempts to secure a long-term accord, however, and last offseason the Bengals rejected efforts to seek out a trade. That stance shifted in 2025, with conflicting reports emerging last week about whether or not the team’s trade price has been lowered recently. The Patriots have been named as a team to watch on that front, although New England is not believed to be actively pursuing a deal.
The length and total value of a new pact has long been agreed to between Hendrickson and the Bengals. Cincinnati appears willing to move near the top of the EDGE market in terms of AAV to keep the 30-year-old in the fold. Locked-in compensation has been the source of a lengthy stalemate, with the team not looking to break with organizational precedent (as it did with Joe Burrow and Ja’Marr Chase) by guaranteeing money past the first year.
With that stance in mind, a top-up for 2025 which does not include any new term could be feasible. Coming off his fourth straight Pro Bowl campaign – and first as an All-Pro performer – Hendrickson could set himself up for a considerable payday on the open market next spring with another productive season. A short-term agreement would also likely be sufficient to end his hold-in and ensure the threat of missed regular season games does not come to pass.