Higgins was blocked from free agency when the Bengals used the franchise tag to keep him in Cincinnati for the upcoming season. The one-year salary for these players is $26.2 million.
The Bengals and Higgins now must come to terms on a long-term agreement by July 15th.
Higgins played 12 games in 2024 and caught 10 TD passes with 73 receptions for 911 yards. Quarterback Joe Burrow said he would be disappointed if he didn't return.
"It's not even just his production, it's his presence. It's how he comes to work every day," Burrow said in January. "He plays such a big part in what we do here and has for five years now that I don't think you can quite put a value on that, I would say."
The Bengals also released veteran G Alex Cappa, who had a $10.2M cap number.