Despite an injury-shortened season, Trey Hendrickson remains one of the most intriguing names set to hit free agency. ESPN currently ranks him as the No. 1 overall free agent. The biggest question now is what his next contract will look like. After earning $29 million last season, it’s unclear whether teams will be willing to guarantee multiple years or commit to more than $20 million annually. However, according to NFL insider Ian Rapoport, it shouldn’t come to that; instead, the Bengals need to find a way to keep him in the building.

“I’m not saying they’re definitely going to franchise tag him, but when he got that new deal, there was nothing that prohibited the Bengals from doing a franchise tag with Trey Henderson,” Rapoport said on The Insiders. “It would cost, I believe, $34. They paid him $30 last year, so it’s not that much more. And the Bengals hate to let really good players leave the building. They just hate it. They like good players. And when at all possible, they would like to keep good players.”

Hendrickson suffered an injury in Week 6 and tried to return in Week 8 against the New York Jets. However, he made the injury worse in that 39-38 loss and left the game early. Those 23 snaps were his last of the season and might be his final ones with the Bengals.

As a result, many believed that his absence contributed to Cincinnati’s disappointing 6-11 record, which stretched the playoff drought to three straight seasons.

Hendrickson was a top player when he was healthy. In 2024, he had his best season ever, finishing with 17.5 sacks, which was the most in the league. He was selected for the Pro Bowl for the fourth time in a row and received his first First Team All-Pro award. He also came in second for the Defensive Player of the Year award.

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That dominance strengthened his case. And so, it made Rapoport double down on his take.

“The contract negotiations might stay in that same ballpark this coming year. We’ll see, though, if they can work out a deal again that makes sense for all sides again,” he said.

However, while the Bengals face the big decision, multiple teams are also reportedly monitoring his situation.

The Lions, Bears, and Colts are interested in Trey Hendrickson

Fresh off winning the NFC North, the Chicago Bears are confident. So in the upcoming season, they will aim to make a strong push for the Super Bowl. But for that, they need to bring in some impactful players. And Fox Sports reporter Greg Auman thinks one of those players could be Trey Hendrickson.

“Hendrickson, 31, doesn’t have the luster he had a year ago. Instead of coming off back-to-back 17.5-sack seasons and four straight Pro Bowls, he’s now coming off core muscle surgery in December that limited him to four sacks in seven games in 2025. He got a one-year, $29 million deal from the Bengals last year but isn’t likely to draw as much this time around,” Auman wrote, after ranking Hendrickson as the fourth-best free agent this offseason.

Meanwhile, the Detroit Lions missed the playoffs, and their chances for a Super Bowl are getting slimmer. Al-Quadin Muhammad is heading to free agency, and there are doubts about whether he can replicate his 11-sack season. The team needs support alongside Aidan Hutchinson, and SportsGrid’s Paul Connor believes they should try for Hendrickson.

“The Lions’ Super Bowl window is shrinking, and Detroit needs another edge presence opposite Aidan Hutchinson,” Connor said. “Hendrickson’s high motor fits Dan Campbell’s culture perfectly.”

The Indianapolis Colts are also quietly keeping an eye on the situation. After hiring Marion Hobby to replace Charlie Partridge, the Horseshoe may look to reunite the coach and player.

“In my opinion, Hobby’s hiring feels like the Colts signing Hendrickson is becoming more of a reality,” SI’s Drake Wally wrote.

Hobby coached Hendrickson from 2021 through 2024 under Lou Anarumo, the exact stretch when he earned Pro Bowls and a First-Team All-Pro nod.

Now the question shifts back to the Bengals. Do they act, or do they risk watching him suit up elsewhere?