As the Trey Hendrickson/Bengals staring contest wages on, there’s an increasing sentiment that the saga will lead to an extension agreement or a holdout. As ESPN’s Ben Baby and Jeremy Fowler write, there doesn’t seem to be much momentum surrounding a potential Hendrickson trade.

As the 2024 sacks leader pushed for a new contract, the Bengals allowed the player to seek a trade to a new squad this offseason. According to ESPN, a handful of teams showed interest in extending Hendrickson if they were able to complete a trade with Cincy’s front office. Ultimately, “nothing materialized,” and that’s led to the current stalemate between the two sides.

The Bengals were reportedly seeking at least a first-round pick in return for the All-Pro. Per ESPN, there’s a belief that the organization “either didn’t get an offer including a first-round pick or it rebuffed engaging trade offers in March.” While a suitor could still come out of the woodwork, the general consensus is that Hendrickson will still be on the Bengals roster for the start of the regular season.

So, focus will instead turn to extension negotiations. Hendrickson has already gone public with his frustrations, going as far as to threaten a holdout. A source described the defensive star as “extremely dug in,” and while in-season holdouts are becoming increasingly rare under the current CBA, it sounds like Hendrickson could be one of the few players to follow through with their threat.

After pacing the NFL in sacks in 2024, Hendrickson is naturally looking to join the top of the market among edge rushers. As ESPN notes, a pair of offseason deals exacerbated the situation: Myles Garrett‘s record-breaking deal with the Browns and Danielle Hunter‘s $35MM-plus annual earnings from his new deal in Houston. That latter contract is especially notable since Hunter and Hendrickson are both 30, and it could perhaps serve as a benchmark on a Bengals deal.

The $34MM threshold is notable among edge rushers, with Maxx Crosby and Nick Bosa joining Garrett and Hunter in that exclusive club. While the Bengals may be willing to temporarily pay that type of AAV, term is the likely sticking point between the two sides, as ESPN notes that Hendrickson will surely be seeking some long-term security.

“I still think they can come to a compromise, getting him above that $30-million threshold while covering themselves,” an NFC executive told ESPN. “The age [30] is something that must be a factor for them.”

So, as the two sides continue without a resolution, Hendrickson will likely stay away from voluntary OTAs. When it’s time for the pass rusher to show up, it’s uncertain if he’ll engage in a hold-in or a literal holdout. Per ESPN, the veteran has already been warned that he’ll face fines for any unexcused absences. In other words, this situation could get even more contentious as we get closer to training camp.