Bengals signing Trae Waynes listed as one of free-agency’s overrated deals

ESPN isn’t a fan of the signing.

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The Cincinnati Bengals tossed out two major contracts early in free agency.

One of those went to cornerback Trae Waynes, which was part of the Bengals sending a good message to fans — if not a guy named Joe Burrow.

But not everyone liked the deal. ESPN’s Anthony Treash, for example, provided some numbers behind why he isn’t a fan:

Trae Waynes, CB, Cincinnati Bengals
The deal: Three years, $42 million
Some might say that Waynes has lived up to his lofty expectations as the 11th overall pick in the 2015 NFL draft — but he hasn’t. He has never ranked higher than 58th in single-season PFF coverage grade (he didn’t qualify in his 2015 rookie season), and he has been a liability on the outside over the past three seasons. Among the 64 cornerbacks who saw at least 100 targets at outside corner from 2017 to 2019, Waynes’ 64% catch rate allowed ranked 57th and his 1,724 yards allowed ranked 60th.

Treash does go on to clarify that the Bengals play more man than Waynes’ last team, the Minnesota Vikings. That should play more to his strengths as a player.

And indeed, some of those numbers don’t look great, especially when tied to a three-year deal worth $42 million.

But there’s always a but. The good news? The Bengals did a really good job with the structure of the contract. And there’s the upshot of Waynes upgrading on Dre Kirkpatrick. The signing itself was also not only a message, but proof the Bengals can go out, pay up and get big names to town.

There’s quite a bit more than on-field perspective to consider with the Waynes signing. Hindsight will be the ultimate judge, but there’s a reason it graded well in our free-agency grades so far.

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