At 30, Trey Hendrickson is still playing at an elite level—17.5 sacks last season, a fourth straight Pro Bowl nod, and more quarterback takedowns than any other AFC defender. But in Cincinnati, the Bengals edge rusher is watching the money flow elsewhere. While Tee Higgins got franchise-tagged and Ja’Marr Chase is expected to receive a record-breaking extension soon, Hendrickson’s own deal—just one year and $16 million remaining—hasn’t moved an inch. “It’s become personal, unfortunately,” he admitted in May. On Tuesday, it boiled over: Hendrickson skipped mandatory minicamp, making his contract standoff with the Bengals official.

The absence didn’t catch anyone off guard. Hendrickson had already aired his frustration with how little urgency the Bengals have shown. “If I sat here with four sacks, they’d want a pay cut and some money back,” he said, calling out the imbalance in how production is being valued. He’s not chasing Nick Bosa money, but reports say he’s seeking a two-year, $76 million extension—aggressive, yes, but not unfounded for a player with his recent output. So far, Cincinnati hasn’t budged, and Hendrickson appears out of patience.

That stalemate, paired with his holdout, has pushed his name to the top of the trade conversation. For teams with cap space, a need off the edge, and championship ambitions, Hendrickson is a rare mid-offseason opportunity. Naturally, the Philadelphia Eagles became a focal point. They’ve prioritized pass rushers for years, recently sent Haason Reddick to the Jets, and are planning for life after Brandon Graham. A move for Hendrickson would’ve fit that ethos perfectly. But then came ESPN insider Adam Schefter on 97.5 The Fanatic on June 11, who all but shut the door on the idea.

“I don’t think that’s practical,” he said when asked about Philly making a move. “They know all the big deals they have coming up… I just don’t see a move like that in the cards.” Schefter didn’t question Hendrickson’s production—he ranked third in the NFL with 17.5 sacks last season, but pointed toward the implications of integrating a new, high-priced veteran into a team already managing tight internal priorities. The Eagles aren’t trying to rip apart their locker room balance. And shelling out $30 million a year for a 30-something pass rusher would do just that. Even for a guy like Hendrickson, who’s still wrecking games.

However, this isn’t just a money thing. It’s about culture and timing. As Schefter puts it, “I think their priority is to pay their own people – their homegrown talent – and reward it over time. And if you go trade for a player like Trey Hendrickson and pay him upwards of $30+ million a year, that really is disruptive to everything going on.” The Eagles have major financial commitments looming—including an anticipated extension for wideout DeVonta Smith and long-term planning around quarterback Jalen Hurts’ mega-deal, which begins escalating in 2025.

Then, there’s the whole cap space discussion. According to Over The Cap, the Eagles have about $27 million available. That figure was boosted by post-June 1 savings from contracts like Darius Slay and James Bradberry, but it’s already earmarked for depth signings and rollover flexibility. But that’s before factoring in Bryce Huff’s trade resolution and Brandon Graham’s cap ripple. Hendrickson, meanwhile, is reportedly seeking a two-year, $76 million extension. Do the math.

So while the fanbase might dream up a defensive line headlined by Jalen Carter and Hendrickson, Nick Sirianni and Howie Roseman are living in the real world. One where chemistry, cap discipline, and long-term planning still come before the flashy trade. Hendrickson will get paid. It just won’t be in Philly.

Joe Burrow clears his stance on the Trey Hendrickson saga

Last season, when Trey Hendrickson nearly called it quits, it was Joe Burrow who made sure the band stuck together. The Bengals QB didn’t just offer support; he vouched for Hendrickson and Tee Higgins like a captain should. “Both those guys [Higgins and Trey] have earned everything that has come to them and more. I’ll support them all the way through it,” Burrow had said. Hendrickson stayed. He delivered. He terrorized QBs like usual. And he led the league in sacks.

But this time, the vibe feels different. Hendrickson’s officially holding out. Well, he did keep his word and dragged it for a year because of Joe. But not anymore. His numbers still jump off the page—46 total tackles, 17.5 sacks, fourth straight Pro Bowl. And yet, the Bengals don’t seem too interested in meeting him anywhere near the Maxx Crosby or Nick Bosa pay tier. With $16 million left on his current deal, and the birthday candles about to hit 31 in December, Cincinnati appears to be eyeing a younger, cheaper direction under new DC Al Golden.

So, where does Burrow stand now? “We’re all supporting Trey,” he told reporters Tuesday, after Hendrickson skipped mandatory minicamp. But then came the line that stuck: “I don’t know what’s going to happen.” For a player who’s usually precise, Burrow’s uncertainty says plenty. “It’s not one that I think would make us a better team, so we’ll see what ends up happening.”

The Bengals got Higgins locked in. They gave Ja’Marr Chase the league’s biggest non-QB deal. But Trey? No traction. No optimism. And based on Hendrickson’s last comments—laced with frustration—there might not be a middle ground coming. Burrow’s backing remains. But even that might not be enough to keep No. 91 in Cincinnati.