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The Chicago Bears and Jaylon Johnson have reportedly worked out a four-year, $76 million deal, two days after the team placed a non-exclusive franchise tag on the 24-year-old cornerback.
According to ESPN’s Adam Schefter, $54 million is guaranteed and the Bears will pay out $60 million over the first three years.
The Bears gave Johnson a non-exclusive franchise tag before Tuesday’s deadline, meaning he was eligible to sign with a new team when the free agent market opens next week, but the Bears would be able to match any offer or receive a pair of first-round draft picks as compensation for walking away.
The non-exclusive franchise tag had guaranteed Johnson a one-year salary determined by a formula that averages the five highest-paid players at the same position over the previous five seasons or 120% of their previous year’s salary, whichever is higher.
While Johnson did receive the tag, he was still eligible to negotiate a long-term contract until July 15. Had he not inked an extension to stay in Chicago by that date, he would have been unable to sign a new deal until after the 2024 NFL season.
Johnson was a second-round pick by the Bears in 2020. He has five interceptions and 130 solo tackles in four season. He was a second-team All-Pro in 2023.
Kansas City Chiefs cornerback L’Jarius Sneed is someone who would be interested to hear what kind of deal Johnson got from the Bears. Sneed was also given a non-exclusive franchise tag this week as he seeks a long-term deal from the defending Super Bowl champions or from another NFL team.
Should Sneed sign his tender, he will play the 2024 season on a one-year deal worth $19.8 million with the Chiefs. But if an extension isn’t worked out, general manager Brett Veach will look to trade the 27-year-old.
Johnson’s deal with the Bears should serve as parameters for a Sneed deal. Now it’s up to the Chiefs, who also have to make a decision on defensive tackle and pending free agent Chris Jones, how they will allocate their salary cap going forward to best position themselves for a third-straight championship.
