The Cincinnati Bengals might be willing to part ways with Trey Hendrickson. 

Mired in a contract impasse that’s going nowhere, the Bengals are listening to trade offers for their disgruntled star pass rusher, according to multiple reports.

Granted to seek a trade in March, no move was consummated and Hendrickson reported to training camp for the Bengals. However, Hendrickson has been a hold-in — not participating in practices as the two sides try to work toward a deal that makes him one of the highest-paid pass rushers in the league. 

The Bengals reportedly want defensive help and draft compensation in return for Hendrickson if they opt to trade him, which one longtime NFL executive thinks is a reasonable ask. 

“If he feels he is a $35-40 million player at a premium position, I would want a 1 plus a starting player or a 1 and a 3,” the executive told me when asked about potential trade compensation for Hendrickson. “But in this situation, I would want the prior.” 

There’s no question Hendrickson is one of the best pass rushers in the game. He finished with a league-high 17.5 sacks last season to go with 46 combined tackles, six pass breakups and two forced fumbles. That effort was good enough for first-team All-Pro honors and a runner-up finish in the Defensive Player of the Year voting. Hendrickson earned Pro Bowl invitations all four seasons he’s been with the Bengals. 

Hendrickson’s 35 sacks over the last two seasons are the most in the NFL, and his 92 pressures were tops in the league last season. He also accounted for 32.2% of Cincinnati’s pressures in 2024, making him the only defender to have recorded a team pressure share over 30%, per Next Gen Stats.

Hendrickson, 30, is currently set to make $16 million in total compensation in the final year of his deal. Hendrickson joins another elite pass rusher in Micah Parsons, who is also holding in with the Dallas Cowboys in search of a new deal.

Both players likely point to T.J. Watt’s three-year, $123 million contract that averages $41 million annually — making him the highest-paid non-quarterback in the league — as a potential barometer for where their contract should come in. But at least one agent thinks Hendrickson might have to settle for a little less than that. 

Steelers star T.J. Watt helped reset the market for pass rushers again this offseason. Can Trey Hendrickson match the salary he got? (Photo by Mark Alberti/Icon Sportswire via Getty Images)

“Considering 30-year-old Danielle Hunter just got a deal this offseason at $35.6 million a year, there’s a somewhat reasonable argument that Trey should be in that ballpark as well,” said J.I. Halsell, a certified NFL agent and executive vice president of client compensation for 3 Strand Sports. “However, the Hunter deal is a one-year extension, therefore it’s not really a solid, apples-to-apples data point when trying to forecast a multi-year extension for Trey.

“If he’s looking for a multi-year deal, then based on the current edge market, there’s a gap in the market from Josh Hines-Allen’s $28.25 million a year up to the next edge deal of Nick Bosa’s $34 million. Thus, a deal that’s in the $30 to $32 million a year range could make sense on a multi-year deal.” 

As teams have to weigh how much they want to give up in trade and salary compensation to land Hendrickson, here are six teams that make sense as potential trade partners. 

Hendrickson’s former defensive coordinator with the Bengals, Lou Anarumo, now leads the defense in Indianapolis, providing a smooth transition for the talented edge rusher in a defensive scheme he knows intimately. The Colts could also use some pass-rush help, too. Kwity Paye led Indianapolis last season with eight sacks.

Colts general manager Chris Ballard and head coach Shane Steichen are under intense pressure to get something done this season and are in win-now mode. Indianapolis has about $17 million in salary cap space, and might have to move a talented player like offensive lineman Quenton Nelson to get it done. 

Rashan Gary and the Packers didn’t get to the quarterback as much as they would’ve liked to last season. (Photo by Todd Rosenberg/Getty Images)

Much like the Colts, the Packers are in desperate need of pass rush help and fighting for a playoff spot in one of the toughest divisions in the league. Green Bay’s 210 quarterback pressures were tied for 19th in the NFL last season. 

Jordan Love returned to the field from injury this week and leads a talented Green Bay offense, but they could use an upgrade along the defensive line from a pass rush led by Rashan Gary. The Packers have a little over $30 million in cap space, so they can get something done. And in a passing division led by a pair of quarterback whisperers in Kevin O’Connell and Ben Johnson, the Packers could use a top-tier pass rusher like Hendrickson, who can get home in critical portions of the game. 

The Bolts lost Joey Bosa to the Buffalo Bills in free agency and are counting on Tuli Tuipulotu to fill the void opposite Khalil Mack. But in an AFC West division that includes the best player in the league (Patrick Mahomes), the Chargers could use experienced help up front to chase down the Kansas City Chiefs.

Head coach Jim Harbaugh has preached all offseason that the coaches and players must raise their level of play to match franchise quarterback Justin Herbert. What better way to show his team is doing that than trading for a talented playmaker like Hendrickson?  The Chargers have a little over $30 million in cap space, so they have room to make a move. 

Ben Johnson and the Bears did plenty of work to retool their offense this offseason, but what about their defense? (Photo by Kevin Sabitus/Getty Images)

Chicago had the most-sacked quarterback in the league in Caleb Williams, who was taken down 68 times last season. But on the other side of the line of scrimmage, Chicago’s 40 sacks finished tied for 16th in the NFL. The Bears have not had a double-digit sack man since Robert Quinn set the franchise record with 18.5 sacks in 2021.

The Bears invested in one of the most innovative minds in Johnson to get the most out of Williams, but Chicago needs a legitimate closer up front defensively to get off the field and get the ball back to the offense. Hendrickson would fill that void. He also gets a chance to play for defensive coordinator Dennis Allen again, who coached Hendrickson in New Orleans. The Bears have little wiggle room with $13.2 million in cap space, though, so they might have to move some things around to get a deal done.

The Panthers finished with 32 sacks in 2024, tied for 30th in the NFL. So, Carolina would be wise to add some juice to the team’s pass rush. Hendrickson would give Carolina another impact player on offense in a winnable division playing in the NFC South. The Panthers have nearly $19 million in cap space. 

Quarterback Bryce Young took a step in development under the direction of head coach Dave Canales last season, and Ejiro Evero is one of the top young defensive coordinators in the league. Adding Hendrickson could propel the Panthers to the top of the NFC South conversation with the Tampa Bay Buccaneers and Atlanta Falcons. 

Aidan Hutchinson is working his way back from a brutal leg injury that cut his 2024 season short. (Photo by Nick Cammett/Getty Images)

Aidan Hutchinson is one of the top pass rushers in the league, but returning from a gruesome season-ending leg injury. Hendrickson could help give the Lions juice off the edge as Hutchinson works himself back to being a consistent game wrecker. 

The Lions also lost a lot of brain power with former defensive coordinator Aaron Glenn taking over as the head coach of New York Jets and ex-offensive coordinator Johnson now in Chicago. Having another dynamic playmaker like Hendrickson could help make up for those schematic deficiencies. The Lions have the second-most cap space in the league with $47.8 million in room.

Eric D. Williams has reported on the NFL for more than a decade, covering the Los Angeles Rams for Sports Illustrated, the Los Angeles Chargers for ESPN and the Seattle Seahawks for the Tacoma News Tribune. Follow him on X at @eric_d_williams.

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