Why the Chicago Bears cap space is lower than expected
By Peter Jurich
For the majority of the regular season, Chicago Bears fans knew that the team would enter the 2023 offseason with a high draft pick and a boatload of cap space. Now that the offseason has officially begun for all but two teams, the resources that teams will have to work with this year are becoming clearer. Specifically, the order of the first 29 picks in the NFL Draft has been set and cap space details have begun to come out.
Unfortunately, it appears that the Chicago Bears’ available cap space is slightly lower than initially predicted. Per Spotrac, the team currently has roughly $98.6 million to work with this offseason. This number is still the largest of any team going into the offseason but is roughly $20 – $30 million lower than anticipated.
What caused the Chicago Bears cap space to drop this offseason?
The Bears lost some money due to the signing of 11 players to reserve/futures contracts. These contracts generally range from $750,000 to a little over $1 million per player. All in all, this accounts for a little under $10 million in cap space that will not be at the team’s disposal during free agency.
Additionally, some players earned more in 2022 than previously expected due to contract incentives being reached. For example, tackle Riley Reiff earned a $4.5 million bonus due to a stipulation of him being awarded that amount for playing 10% or more of the total offensive snaps.
These incentives also come from the Proven Performance Escalator, a bonus awarded to non-first-round pick players who fulfill a variety of qualifications, including making a Pro Bowl appearance on the original ballot or playing over a certain percentage of snaps on either offense or defense over the player’s first three years in the NFL.
This season, only players from the 2020 NFL Draft are eligible for a PPE. According to OverTheCap, the Chicago Bears had the most players qualify for this bonus in 2022 at six, including receivers Darnell Mooney and Chase Claypool, tight end Cole Kmet, cornerbacks Jaylon Johnson and Kindle Vildor, and defensive end Trevis Gipson.
The PPE distinction is important because it (slightly) raises the base contract of each contract to the Right of First Refusal restricted free agency price, which in 2022 was roughly $2.4 million. Additionally, any player who hits the second level of the PPE is awarded an extra $250,000, so with four players qualifying at that level, the Bears saw six players have an increase in their base salary, as well as $1 million in bonuses split evenly between Mooney, Claypool, Kmet, and Johnson.
It is important to note that one of the main reasons that the Bears seemed to lose more cap space than other teams this offseason is largely due to the fact that more players qualified for the PPE than other franchises. The Falcons, who have the second most cap space this year, only had three players qualify for PPE, and none of them got past the first criteria, which levies the smallest cap hit.
Between incentives, PPE bonuses, and reserve/futures contracts, the Bears are left with $98.6 million to spend this offseason, which is certainly lower than the $120+ million projected cap space. But again, the Bears not only have the most cap space this offseason but had to pay slightly more because a number of third year players consistently started for the team.