1. The Chicago Bears will work out an extension with Jaylon Johnson
This would be a win for all sides. The Chicago Bears can and likely will tag Jaylon Johnson. At the very least it makes sure he does not enter free agency, and it buys the team some time to work on an extension. While the Bears will make Johnson play on the extension if they do not get the right deal back and if they do not get a deal done with Johnson, they also would like to get an extension done.
They can smooth over some of the cap numbers and manipulate it to their liking, which they cannot do on the franchise tag. This is obviouslky the best case for Johnson as well. The tag is good money, but it is one year, One injury or a poor performance could impact his long term earnings.
An extension would be guaranteed money for a few seasons and the ability to earn longer term money on the back end. Both sides will be incetnivized to get this done. Talks around money can get messy, which is why there are so many potential outcomes, but this remains the mostl likely end point for both sides.