The dream scenario for the Cincinnati Bengals this offseason would be locking up star receivers Ja’Marr Chase and Tee Higgins both with new, long-term deals.

That possibility seemed like a pipe dream for quite some time, but the tide turned toward the end of the season. Public comments — especially some intriguing, albeit vague comments from Joe Burrow — have made that scenario seem more likely as of late. As did Higgins signing with Chase’s agent. This led to a sense of optimism among the Cincinnati faithful.

ESPN’s Jeremy Fowler casts doubt on Cincinnati’s ability to keep both Ja’Marr Chase and Tee Higgins

But, NFL insider Jeremy Fowler just threw some cold water on that dream scenario. In a recent article for ESPN, Fowler shared that some executives from across the league’s landscape are skeptical of Cincinnati’s ability — or desire — to commit such a staggering amount of money to one position, especially when they have so many other major needs.

From ESPN:

“Some executives are skeptical that Cincinnati can pay both Higgins and Chase. ‘It’s possible, but would require some significant trade-offs,’ an AFC exec said. ‘They will have close to $70 million a year tied up in receivers, plus the quarterback cost. I think it makes more sense to go the cheap route, especially given the improvements they need to make on defense.'”

This, of course, was always the concern, and why it felt like a long shot that the Bengals would be able to retain both Chase and Higgins with both players poised to make monster money.

From an organizational perspective, the concern is that paying both Chase and Higgins would take away from the ability to upgrade the defense, and then the team will be stuck in the same position it is right now, with an excellent offense and a below-average defense. We saw how that turned out in 2024.

It also seems unlikely that Higgins would be willing to take a major pay cut to stay in Cincinnati. If the money is close, maybe, but he shouldn’t be expected to leave millions on the table on what will likely be the biggest contract of his career.

So, while Cincinnati fans shouldn’t abandon all optimism when it comes to keeping him in black-and-orange, they should be prepared for the possibility that they’ve already seen Higgins’ last game in a Bengals uniform.