Jaylon Johnson, Bears reportedly agree to 4-year, $76 million deal
The 24-year-old Johnson was a second-team All-Pro in 2023
The Chicago Bears and Jaylon Johnson have reportedly worked out a four-year, $76 million deal, two days after the team placed a non-exclusive franchise tag on the 24-year-old cornerback.
According to ESPN's Adam Schefter, $54 million is guaranteed and the Bears will pay out $60 million over the first three years.
The Bears gave Johnson a non-exclusive franchise tag before Tuesday's deadline, meaning he was eligible to sign with a new team when the free agent market opens next week, but the Bears would be able to match any offer or receive a pair of first-round draft picks as compensation for walking away.
The non-exclusive franchise tag had guaranteed Johnson a one-year salary determined by a formula that averages the five highest-paid players at the same position over the previous five seasons or 120% of their previous year's salary, whichever is higher.
While Johnson did receive the tag, he was still eligible to negotiate a long-term contract until July 15. Had he not inked an extension to stay in Chicago by that date, he would have been unable to sign a new deal until after the 2024 NFL season.
Johnson was a second-round pick by the Bears in 2020. He has five interceptions and 130 solo tackles in four seasons. He was a second-team All-Pro in 2023.
How this move affects L'Jarius Sneed
Kansas City Chiefs cornerback L'Jarius Sneed is someone who would be interested to hear what kind of deal Johnson got from the Bears. Sneed was also given a non-exclusive franchise tag this week as he seeks a long-term deal from the defending Super Bowl champions or from another NFL team.
Should Sneed sign his tender, he will play the 2024 season on a one-year deal worth $19.8 million with the Chiefs. But if an extension isn't worked out, general manager Brett Veach will look to trade the 27-year-old.
Johnson's deal with the Bears should serve as parameters for a Sneed deal. Now it's up to the Chiefs, who also have to make a decision on defensive tackle and pending free agent Chris Jones and how they will allocate their salary cap going forward to best position themselves for a third-straight championship.