With a $19.8 million franchise tag for 2024 and a four-year deal averaging less than that, the contract to which Bears cornerback Jaylon Johnson agreed raised eyebrows in league circles.
The truth makes the deal seem better than it did at first blush.
Per a source with knowledge of the terms, Johnson will receive $28 million in 2024 — more than the $19.8 million he was due to receive under the tag.
He’s also due to make another $16 million in 2025; it’s fully-guaranteed. That ensures he’ll receive slightly more than the value of two franchise tags ($19.8 million plus $23.76 million, or $43.56 million).
The tradeoff comes on the back end, where Johnson makes $16 million in 2026 and 2027. That’s what pushes the APY to $19 million.
The four-year contract gets him back to market in 2028. With a cap number of $21 million in 2027, the Bears could tag him the year after the deal expires, at a tender of $25.2 million.
Bottom line? He’s getting more than he would have gotten over the next two years under the tag. He gave up some cash in 2026 and 2027 to make it happen, but with only a four-year deal he should be in line for another significant contract, if he continues to play at a high level.
That said, the deadline for doing a multi-year deal was July 15, and the NFL is a deadline-driven business. Whatever the Bears had on the table now would have at least been that good in July. Maybe better.
Still, Johnson was ready to sign. And sign he did. The Bears keep a great young defensive player for four more years.
