The Chicago Bears are in uncharted territory as they carry the keys to the entire offseason. They are not only holding the first overall pick for ransom, but they also have a slew of available cap space at their disposal. However, they must spend their money wisely to take the next step in 2023.
The Chicago Bears are a team with many needs, and countless free agents would drastically improve the roster. With that said, there are just as many players the team could conceivably target that could set the franchise back. There are a variety of potential traps they will have to avoid to make the most of the unique position they are in.
Shelling out a multi-year contract to a big-name talent who has failed to live up to their potential is the most significant (and detrimental) pitfall teams endure during free agency. While these situations sometimes yield positive results if a player proves to be a perfect scheme fit with their new squad, they often lead to a front office having buyer's remorse when it is all said and done.
Recency bias is another factor teams have to consider during contract negotiations to avoid overpaying for players during free agency. Players who have a breakout season in a contract year tend to become highly sought after on the open market but never replicate the success after signing on the dotted line. The Chicago Bears will have a lot of money to burn in the coming months, but it is essential that they burn it right.