[More Cowbell]

As reported on ESPN earlier today, Marvin Lewis has now confirmed that the Bengals did indeed reject a trade proposal from the Washington Redskins for Chad Johnson. In the deal, Cincy would receive Washington's first round pick this year (#21), and a third-rounder next year that could elevate to a second or first round pick if Johnson and the team meet certain unspecified goals.

http://sports.espn.go.com/nfl/news/story?id=3358557

What does everyone think about a potential deal like this? Apparently, there are several other teams interested in trading for Ocho Cinco, so more offers may be forthcoming.

It seems to me the main sticking point that may prevent a trade from happening is Johnson's contract. If Cincy trades him before June 1, they take an $8 million cap hit, which would only leave them about $2-3 million under for the 2008 season. This amount would obviously not be enough to sign all their draft picks, so the only way he gets traded before then is if several players agree to restructure their own contracts, and that just seems unlikely to me.

Maybe Washington drafts a receiver with their pick this year, then turns around and trades him (along with next year's draft pick) to the Bengals after June 1. After that time, the cap hit is only 4 million, which would be a lot easier to digest.