NEWSLETTER
Even though Jaylon Johnson reportedly planned on shutting down in-season extension talks at the end of October, I was quietly hoping that the Chicago Bears and their top cornerback would still be amenable to chopping it up when it came to a new deal.
And for what it’s worth, both sides could still be open to an extension. They should be. From Johnson’s perspective, the corner is having a career year and should get some consideration for All-Pro recognition. Meanwhile, Head Coach Matt Eberflus’ defense has been at its best with Johnson playing at his highest levels since joining the Bears after the 2020 NFL Draft. This feels like one of those scenarios where both sides should want to continue working together because the fit is perfect.
But if this partnership is to continue, it is going to be costly for the Bears.
Earlier this week, Jaylon Johnson told 670 The Score’s Parkins and Spiegel Show that his view on his worth has evolved. So much for not wanting to reset the market at the cornerback position:
More from Johnson at 670 The Score:
“After this season, I feel like there’s not anything that you can say that I’m not doing. I feel like before the season, (I felt) for three years, I’ve covered at a high rate. And it’s been like, ‘Oh, can he get the interception? Can he get the interception?’
So it’s like, after this year, you can’t say I can’t cover at a high level … You can’t say I’m not an elite cover guy. You can’t say that I can’t take the ball away. You can’t say to me that I can’t tackle. So I mean, realistically, what is it that I can’t do that deserves top pay, top corner money? I feel like now there’s definitely opportunity and room – and especially if I touch All-Pro. I feel like there’s not anything that I haven’t done that’s deserving of it.”
Good thing the Bears have enough cap room to extend Jaylon Johnson
In case you missed it, the NFL’s 2024 salary cap is expected to exceed $240 million. Patrick has more on that front over at BN’s NFL wing (which you should totally be following, by the way). And if you check out OverTheCap, their estimate for the cap increase sits at $242 million. No matter how you slice it, business is booming for the NFL. Same as it ever was.
For the Bears, another salary cap increase is welcome news. OTC’s estimates have Chicago’s football team at $64,786,906 under the 2024 cap. And while extensions for Johnson and Cairo Santos (remember that conversation we had in late November?) could put a dent in that number, the Bears could also create cap space with some cuts. For instance, Cody Whitehair ($9.15M savings with a $4.1M dead money hit), Travis Homer ($1.9M savings, $225K dead cap hit), and Velus Jones Jr. ($918K savings, $555K dead money hit) come to mind as potential cap-saving moves. Those savings could conceivably be spread out to cover other offseason needs. But don’t get it twisted, Jaylon Johnson should be a top priority.
Back in mid-November, ESPN’s Jeremy Fowler brought up the contracts Carlton Davis III and J.C. Jackson as a potential comp for Johnson’s next deal. Those players’ contracts ere in the range of $14.8-16.5 million per season. Throw in a couple of million dollars to account for cap inflation and the Bears probably would’ve been looking at something the $17-18 million area. But with Johnson’s play ticking up lately, that number probably starts at about $19 million per year.
For what it’s worth, Over The Cap projects the 2024 Franchise Tag tender for cornerbacks to be $18.41 million. As for the Transition Tag, that number projects to be at $15.885 million. The Bears shouldn’t hesitate to give Johnson the Franchise Tag. But I wonder if their best path to an extension might be to place the Transition Tag on Johnson, let another team negotiate a deal, have him sign the tender, and immediately match it. Because of the Bears’ cap situation, they’re in a unique spot where it would be difficult for someone to draw up a contract that would make it a poison pill.
Nevertheless, it is still something to keep tabs on as we plow through the winter. It didn’t have to come to this. The Bears and Johnson could’ve struck a deal months ago. And the lack of foresight might cost Chicago a few million bucks per year — not that the team can’t afford it.
