After resuming extension talks with Jaylon Johnson recently, the Bears are set to remove that $19.8M cap hold from their 2024 payroll. They have agreed to terms on an extension with the franchise-tagged cornerback, per Bleacher Report’s Jordan Schultz.
The sides are believed to have agreed to a four-year, $76M extension that comes with $54.4M guaranteed. This will give the Bears more cap space as they prepare to begin, in all likelihood, the Caleb Williams era. It also provides Johnson with a landmark raise considering his status going into last season.
This brings a choppy process to a conclusion; it also represents the culmination of a breakthrough year for the former second-round pick. After initial negotiations did not lead to the parties being on the same page, the Bears let Johnson seek a trade just before the deadline. The 49ers and Bills showed interest, but the Bears held out for a first- or second-round pick. After the deadline, both the Bears and Johnson expressed interest in regrouping and working on a deal. They have done so, and Johnson is now one of the NFL’s highest-paid corners.
Thursday’s extension gives the Bears a big-ticket contract on all three defensive levels; each has been agreed to over the past year. The Bears signed Tremaine Edmunds in free agency and acquired Montez Sweat via trade, extending him soon after that deal came to pass. Johnson gives Chicago a high-end DB payment. After Ryan Poles moved the last of Ryan Pace‘s high-end defender contracts (Eddie Jackson‘s) off the books this offseason, the third-year GM has reshaped Chicago’s defense.
Oftentimes, the franchise-tag number serves as the floor for players regarding extensions. The Bears, despite the salary cap’s recent surge, have managed to lock down Johnson at an AAV slightly under his tag price. The $19M-per-year salary makes Johnson the NFL’s fourth-highest-paid CB — behind Jaire Alexander, Denzel Ward and Jalen Ramsey — but it doubles as a windfall for a player who was not viewed as worthy of this type of contract going into last season.
As far as guarantees go, this $54.4M figure will check in fifth at the position. KPRC2’s Aaron Wilson adds $43.8M is believed to be fully guaranteed. That more important number ranks third among corners. Although Johnson came into the offseason expressing hope he could become the NFL’s highest-paid cornerback, a front-loaded Bears offer likely swayed him from coming especially close to betting on himself again. Johnson, 25, will receive $60M over the deal’s first three years, ESPN.com’s Adam Schefter reports.
Johnson said last summer he wanted to sign a second contract with the Bears; the negotiations changed course after the season the former Pace draftee put together. Pro Football Focus graded Johnson first overall among corners, and Pro-Football-Reference’s coverage metrics backed that up. After allowing passer ratings (as the closest defender) north of 94 from 2020-22, Johnson checked in with a 50.9 number this season — a four-INT slate that produced a second-team All-Pro honor.
Also voted a Pro Bowler, Johnson had not received recognition coming into last season. This well-timed breakout reminds of Josh Norman‘s in 2015, but the ex-Panther needed to find his payday elsewhere after the team rescinded the contract-year wonder’s franchise tag, leading to a Washington landing. The Bears are instead investing in their late bloomer.
With Kyler Gordon and Tyrique Stevenson still on rookie contracts, Johnson will be the expensive piece at the position for the foreseeable future. The Bears may well be planning more moves to bolster their roster, with Williams’ rookie deal on track to reset the team’s contract clock at the position after three Justin Fields seasons.
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