According to ESPN NFL Insider Adam Schefter during NFL Live, Seahawks quarterback Matt Hasselbeck is not expected to return with Seattle for the 2011 season. Obviously with the team electing not to use one of their nine draft picks during the 2011 NFL Draft made sense, considering now they'll just go into next season with quarterback Charlie Whitehurst. Then again, you didn't really come here for analysis on the Seahawks quarterback position did you?
The interest with the Bengals is simple. They could sign a veteran free agent to help ease Andy Dalton's transition into the NFL. This means that Dalton can watch the game rather than going on faith from a coach saying "James Harrison doesn't really aim for your head with the crown of his helmet" while that coach nervously looks around as if Federal Agents surround Paul Brown Stadium for the crime of being a dick.
Hasselbeck could be one free agent quarterback, but we've largely speculated that he'd rather find a situation where a team gives him the opportunity for a championship; even if he's simply a backup.