Chicago Bears general manager Ryan Poles spoke confidently at the NFL Scouting Combine last week about the team reaching terms on a contract extension with Jaylon Johnson but faced with the franchise tag deadline on Tuesday and no deal in place, the Bears placed the tag on Johnson ahead of the deadline.
Under the franchise tag, Johnson would earn $19.8MM during the 2024 season. The Bears and Johnson now have until July 15 to reach an agreement on a long-term contract. It's likely that the $19.8MM that Johnson would earn under the franchise tag would serve as the floor AAV in any potential deal.
The Bears are expected to franchise tag cornerback Jaylon Johnson today as they continue to work on a long-term deal, source says.
— Jonathan Jones (@jjones9) March 5, 2024
For his part, Johnson has also expressed optimism this off-season regarding reaching an agreement with the Bears on a new contract. Johnson has also said in the past that he would have no objections to playing out the 2024 season under the franchise tag.
The Chicago Bears took the next step in advancing toward a long-term agreement with Jaylon Johnson.
Johnson took a step forward in his second year in Matt Eberflus' defensive system and with an uptick in interceptions, things have progressed to the point where the next logical step would be for the Bears to reach an agreement on a new contract with their primary cornerback.
Not only did the releasing of veteran safety Eddie Jackson clear salary cap space for an eventual Johnson extension but also put the cornerback in a position to be the veteran leader in the defensive secondary.
Now is certainly the time for the Bears to get a contract extension done with Johnson. With the team likely resetting the quarterback contract clock with the probable drafting of Caleb Williams next month, the team will have the financial advantage of not having to pay a premium for their starting quarterback over the next four seasons. To that end, it's likely that Johnson's next deal with the Bears will be for four years.