The Cincinnati Bengals have several reasons not to give Trey Hendrickson the franchise tag this offseason. For starters, it would be worth $30.2 million, which could be more guaranteed money than he'd receive on the open market, per ESPN's Ben Baby.

Hendrickson is also coming off an injury-shortened campaign and will turn 32 next season. However, the five-time All-Pro had 17.5 sacks in both 2023 and 2024 and is one of the best pass-rushers in football when healthy.

Cincinnati permitted Hendrickson to seek a trade after not giving him an extension before last season, but it ended up giving him a $14 million raise to stay in town for the year. Now, the 6-foot-4, 265-pounder will hit the open market if the team doesn't tag him.

The NFL franchise tag deadline is March 3, and the window begins on Tuesday.

Cincinnati could use that $30.2 million to add depth to a defense that finished 30th with 28.9 points allowed per game last season. But giving it to Hendrickson for next season would guarantee an All-Pro talent at a premium position in the building once again, and the team could still add other pieces with its remaining cap room.

The Bengals can't waste time. The presence of franchise quarterback Joe Burrow gives them a competitive window through at least the end of his contract in 2029, but letting players of Hendrickson's caliber walk isn't the best way to take advantage of it.

Of course, tagging Hendrickson alone wouldn't fix the defense. Adding more talent via free agency/trades and the NFL Draft is vital, and ideally on long-term contracts. That would give the team at least some type of foundation to fall back on if he walked next offseason.

Cincinnati only needs a competent defense to have a chance at a championship next season. Burrow, star receiver Ja'Marr Chase, and fellow star receiver Tee Higgins led the team to the Super Bowl in 2021, when it finished 13th with 21.8 points allowed per game. The squad then got to the AFC Championship the following year after finishing fifth with 19.6 points allowed per game.

In addition to Burrow, Chase is signed through 2029, and Higgins through 2028. As long as those players are on the team, the Bengals must be as aggressive as possible with adding talent on both sides of the ball. That includes retaining Hendrickson for next season, even at a high cost.