It sounds like Higgins has most of the cards. He can wait awhile to see if CIN is negotiating reasonably with other teams, and if not, make the choice of signing the tag or waiting until the team drops the tag.
Alternatively, he can sign the tag and get a nice 2025 payday. If CIN tries to trade him somewhere that he doesn't want go, he can make that clear to one and all. No one will trade for Higgins for one year at the franchise tag price if he doesn't want to play there.
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My feeling is the best choice is to sign the tag early. CIN will then have that money tied up and be under considerable pressure.