Teams with a lot of salary-cap space first try to invest in their own players. It’s smarter to build from within rather than chasing veterans in free agency, where teams end up overpaying for available players.
The Chicago Bears enter a very important offseason with a healthy cap situation. They have the eighth-most “effective cap space,” according to overthecap.com, at $36.6 million. Effective cap space takes into account where a team will be after it has met what’s called the “Rule of 51,” for offseason bookkeeping purposes, and signed its projected rookie class. For the Bears, that includes the first and ninth picks in the draft.
The Bears’ figure is expected to rise. Releasing free safety Eddie Jackson and offensive lineman Cody Whitehair would create an additional $21 million in cap room. So general manager Ryan Poles has more than enough flexibility to accomplish his goals for the next phase of roster construction.
That process figures to begin with negotiations to retain cornerback Jaylon Johnson, who was voted to the Pro Bowl Games and was a second-team All-Pro after a banner season that included a career-high four interceptions.
“Jaylon’s not going to go anywhere,” Poles said last week, a sure sign the Bears are prepared to use the franchise tag if they’re unable to hammer out a multiyear contract before the window closes. Teams can apply the tag from Feb. 20 through March 5.
The franchise tag for cornerbacks is expected to be about $18.8 million in 2024, and that would set a floor for contract negotiations and buy another five months to work out more than a one-year deal. The Bears have used the franchise tag twice in the last decade — on wide receivers Allen Robinson in 2021 and Alshon Jeffery in 2016 — and placed the transition tag on cornerback Kyle Fuller in 2018.
Johnson is aiming to become the NFL’s highest-paid cornerback, a distinction currently held by Jaire Alexander of the Green Bay Packers or Denzel Ward of the Cleveland Browns, depending on how you measure it.
“The ball’s in my court, the ball’s in my favor,” Johnson said Wednesday when he appeared on the Fox Sports podcast “All Facts No Brakes” with Keyshawn Johnson. “I think it’s just a matter of time and when it happens. Going into the negotiations I don’t think there’s too much to try to talk about.
“I feel like there’s no reason why I can’t be the highest-paid corner in the league. That’s what I’m aiming for. That’s what I’m shooting for. That’s what I think can be done and should be done.”
Alexander received a four-year, $84 million extension in 2022, with the average annual salary of $21 million setting the bar atop the market. That same year, Ward got a five-year, $100.5 million extension ($20.5 million average) with a record $44.5 million fully guaranteed. Jalen Ramsey of the Miami Dolphins is the only other cornerback in the $20 million club in terms of annual average, having signed a five-year, $100 million deal in 2020.
Two years after the Alexander and Ward contracts, Johnson, who had faith in himself, is likely aiming to reset the market based on his performance, awards, and the increasing salary cap. Whether he achieves this goal is yet to be determined.
Poles was hesitant to consider a contract for inside linebacker Roquan Smith in 2022 that would set the market standard. Although he hasn't discussed specific figures for Johnson, cornerbacks are generally viewed as a more valuable position. The Bears could maintain their strength by keeping Johnson, along with developing second-year cornerbacks Tyrique Stevenson and Terell Smith, and third-year nickel back Kyler Gordon.
The market for cornerbacks has slightly declined since the contracts of Alexander and Ward, but this was likely due to the available talent rather than a change in thinking about the value and allocation of funds for this position.
Some defensive coaches place a higher value on cornerbacks than pass rushers, believing that it's easier for offenses to plan around a defensive end than an exceptional cornerback, especially one who is not a liability against the run.
This is not to say that top-tier edge rushers are not essential for great defense, but if they had to choose between an elite cornerback and an elite edge rusher, some coaches would opt for the player who can effectively defend top-tier wide receivers.
That's why it's crucial for the Bears to retain their talent. Johnson will turn 25 in April, and despite being two years more experienced, he is only eight months older than Gordon.
The Bears greatly value Johnson and his attitude, as he possesses the desired qualities of a cornerback who is determined to face the best receivers every Sunday. When deciding whether to make him the highest-paid cornerback in the league, the only concern is his durability, as he missed several games in each of the past three seasons.
This should not diminish Johnson's achievements this season, as he rose to the challenge by providing more on-the-ball production. It's important to note that Johnson was having an outstanding season before the addition of defensive end Montez Sweat, so his success was not solely due to an improved pass rush.
The front office has numerous matters to address, as they need to finalize Matt Eberflus' coaching staff, prepare for free agency, and organize draft meetings. Confidence is expected in resolving matters with Johnson, although it may take some time. The last three players the Bears used the franchise tag on played out their one-year deals, while running back Matt Forte was eventually secured with a four-year contract after being tagged in 2012. The focus with Johnson should be on reaching a multi-year agreement.
Poles stated, "We will work through it and get something done." It ultimately depends on the financial terms and, more importantly, the guarantees.
The objective with Johnson is to secure a multi-year deal.
Poles mentioned, "We'll work through it and get something done."
The key factors are the monetary value, particularly the guaranteed money.
()
