OTC pegs his value at $28.2 million, sportrac at $31.5 million. So as far as AAV, the Bengals are in the ballpark.
Given what’s been said it seems like the amount isn’t the issue so much as structure. Trey wants a long term deal (which would include a lot of guaranteed money, think $60-70m on a 4 year, $120m deal, or something similar). Bengals are probably offering something like one year, $56 million, including the $16 million he’s already scheduled to make this year, so just $40 million in new money, and just $12 million extra this season.