Bears sign TE Cole Kmet to four-year, $50 million contract extension

The Chicago Bears have agreed to a four-year, $50 million contract extension with tight end Cole Kmet, according to ESPN’s Adam Schefter and Field Yates.

Another deal: Bears and TE Cole Kmet reached agreement on a four-year, $50 million extension, including $32.8 million guaranteed and $20 million in new first-year cash, per me and @FieldYates.

— Adam Schefter (@AdamSchefter) July 26, 2023

The contract includes $32.8 million in guarantees plus $20 million in new first-year money.

This marks GM Ryan Poles’ first contract extension to a player drafted by the previous regime, and it was the one that was most expected. Kmet showcased his ability as a pass-catcher in 2022 and his growing chemistry with quarterback Justin Fields to the tune of 50 receptions for 544 yards and seven touchdowns.

The contract itself can be considered a bargain. This makes Kmet the ninth highest-paid tight end in the NFL, which is close to where he is as a player. I had previously expected an extension for Kmet to be similar to the contract signed by Dawson Knox in Buffalo, which was four years, $52 million, so this was right along with my expectations.

Now Kmet can enter this pivotal 2023 season without any contract distractions.