What Could Jaylon Johnson’s Contract Extension Look Like?

The inevitable became reality on Tuesday afternoon when the Chicago Bears applied the franchise tag to superstar cornerback Jaylon Johnson. General manager Ryan Poles now has until mid-July to reach a long-term extension with Johnson and his representation.

If the two sides fail to reach an agreement, Johnson is guaranteed a salary of $19.8 million in 2024 via the non-exclusive tag.

All indications are that Johnson and the Bears will continue working towards reaching a multi-year extension. The cornerback market has heated up in recent offseasons. Those examples will provide Johnson with a starting point for negotiations.

Denzel Ward is currently the highest-earning player at the position from a total value perspective after signing a five-year, $100.5 million extension. Green Bay Packers cornerback Jaire Alexander is the highest-paid corner on an annual basis, earning $21 million per season. Johnson will likely aim to surpass these deals.

A four-year extension worth $88 million could be within Johnson’s wheelhouse. Such a proposal would make Johnson the highest-paid corner in the league annually at $22 million. The $88 million value would rank fifth in the league behind Ward, Marshon Lattimore, Marlon Humphrey, and Trevon Diggs, who all signed five-year extensions instead of the four-year deal we’re predicting.

Johnson positioned himself for these negotiations by enjoying a career-best season in 2023. The former Utah standout recorded a personal-high four interceptions. Johnson was Pro Football Focus” highest-graded cornerback throughout the 2023 campaign as a result.

Signing Johnson to a long-term extension is critical to the Bears” chances of achieving postseason success in 2024 and beyond. The first official step towards keeping Johnson in Chicago for the foreseeable future occurred on Tuesday. Expect the Bears and Johnson to reach a deal before July’s deadline marks its merciless arrival.