Should Bengals re-sign Tyler Boyd after the 2023 season? The Who Dey-bate

CINCINNATI, Ohio — Cincinnati Bengals receiver Tyler Boyd wants to stay in stripes beyond this season.

The production he’s maintained throughout his tenure would normally make a contract extension a no-brainer for the front office, but the salary cap realities on the horizon make it much more of a long shot.

Or does it? Andrew Gillis and I discuss it:

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Michael Niziolek (MN): Tyler Boyd arrived for voluntary workouts on Tuesday and spoke at length about his future with the only team he’s ever played for. He will be a free agent after this season at a time when the Bengals might not have much cash on hand.

What do you think Boyd’s future is here in Cincinnati? Would you be looking to re-sign him if you were in the front office?

Andrew Gillis (AG): Tyler Boyd re-signing hinges on how the Tee Higgins contract extension talks unfold … it’s going to be one or the other come next offseason and I feel safe saying this is the last year of the Big Three in Cincinnati.

If you are picking between the two, clearly, that choice is Higgins, but would Boyd, plus the cap space, plus whatever picks returned in a Higgins trade (presumably a first-plus) be worth it? I don’t think that’s a crazy argument to make at all. Boyd would probably be at least $10 million cheaper per year than Higgins and he’s just 28 years old.

MN: I think that would be a 180 from the stance Duke Tobin took just a couple months ago and I feel like Cincinnati’s draft strategy would have been a bit different if they were worried about the contract negotiations with Higgins falling apart.

Boyd said he had a “great, strong feeling” the Bengals would come through with an offer good enough for him to stay AFTER the front office is done negotiating those contract extensions for Higgins and Joe Burrow.

I’m guessing you don’t think that would be possible?

AG: It’d be a 180 for sure, but if you’re sitting there in March and Higgins is about to hit free agency, you have to make a call in that moment.

Are you closing in on a deal and decide that you’ll get it done? Or are you about to let one of the better young receivers in the league walk for a 2025 third-round compensatory pick? It’s a tricky game to play, but it all depends on what negotiations look like.

Boyd can feel that way, but if the Bengals give Higgins and Chase a combined $55 million per year, then replicate that with Burrow, it doesn’t make much sense to give more money to a receiver.

MN: What about on a one-year deal?

Spotrac estimates Boyd’s market value at $15 million, a number that seems a bit high to me. If that number is closer to $10 million and Boyd is willing to take $7 million to play one more season alongside Chase and Higgins, do you think the Bengals consider that?

This assumes he doesn’t see a big drop-off in production.

AG: It all depends on Boyd.

I’d certainly approach him with that if you can afford it, but you’ve also got to be realistic about the options that you’ll have. Boyd might view that as the one last big contract of his career, at age 29, and might use that as a time to cash in.

If the Bengals move on from Higgins, that contract for Boyd looks far more manageable. This, to me, feels like a situation where Boyd is signing a long-term deal somewhere.

Will that be Cincinnati? That remains uncertain.

MN: I think he would be a lock to leave if this was the first contract after his rookie deal, but he’s made a good amount of money in his career — nearly $50 million — and I’m not sure he would find a better situation than he has in Cincinnati.

I think it makes sense for both sides to try and find a sensible number that allows him to stick around for another season or two considering how important his leadership is in that room as coach Zac Taylor outlined for us on Tuesday.

But a lot of this hinges on his performance, what are your expectations for Boyd this season? Do you think Charlie Jones takes some of his snaps or do you think the Bengals lean on the Big Three all year long?

AG: I think Boyd’s 2023 season is going to be another strong one, and considering what kind of weapons he has above him on the depth chart, it’s fair to say he’s one of the more undervalued wideouts in the league.

I’d expect another year similar to the ones he’s had since 2021 and if you can get 60 catches and 800 yards with a few scores, from your third option no less, that’ll be a successful season for both parties.

Michael Niziolek covers the Bengals for cleveland.com. Follow him on Twitter @michaelniziolek, click here for more coverage.

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