Bears Offseason Project — Part I: Cuts, Extensions, and Franchise Tag(s)

Put your GM caps on and let's make some decisions regarding the Chicago Bears 2024 roster!

Happy Friday!

I’ve got something fun lined up for the next few Fridays. The Bears Offseason Project will be a five-part series running each Friday and live in this space.

I’m going to put my GM cap on for this series and complete a different phase of the NFL offseason in each installment (except the fifth and final installment, which will be a look at what the 2024 roster looks like after we’ve made it through all of the phases).

As you probably gathered from the headline, today will be Part I: Cuts, Extensions, and Franchise Tag(s). According to OTC, the Bears have $46.8 million in cap space, the ninth most in the league as of this publishing.

Today, we will decide on some players currently rostered and see what kind of available cash we’ll have to spend in free agency next week.

But first, here’s a look at the NFL offseason dates to pay attention to:

  • March 5 is the franchise tag deadline.

  • March 11 is the start of the NFL free agency negotiating period.

  • March 13 is when NFL teams can resume making trades.

  • April 25-27 is the 2024 NFL Draft.

  • May 2 is the deadline to exercise fifth-year options on eligible players.

Alright, let’s get into it, shall we?

Roster Cuts

Position, Player

S Eddie Jackson

OL Cody Whitehair

WR Velus Jones Jr.

P Trenton Gill

Cap Savings

$12,560,000

$9,150,000

$918,000

$825,000

Eddie Jackson is one of Chicago's final holdovers from the Pace-Nagy era. While he’s a respected leader and an all-around well-liked player (he was the PFWA Good Guy Award winner this year), his production doesn’t match his paycheck. A $12.56 million cap relief should spell the end of Eddie Jackson's tenure in Chicago.

Like Eddie Jackson, Cody Whitehair is a Bears mainstay whose production doesn’t warrant his cap hit these days—time to part ways and pick up another $9.15 million in cap space.

Velus Jones Jr. has had enough time. He’s a non-factor in the receiving game and a detriment to the Bears in the return game—it's time to cut bait and admit defeat on that draft pick.

Trenton Gill is not good, and the Bears need an upgrade at punter. Bon voyage, Trenton.

Extensions

Position, Player

CB Jaylon Johnson

Extension

Five years, $97.5 million ($39.95 million fully guaranteed)

Jaylon Johnson was initially a question mark regarding his contract extension, but he answered any doubts with his remarkable performance throughout the season. Johnson ended the season with four interceptions, but his contributions to the team go beyond that. The Chicago Bears performed exceptionally well in their defense after the trade deadline and were ranked in the top 10 in defensive EPA per play. Johnson played a crucial role in this success as one of the key players behind the team's impressive defensive performance.

Johnson has an impressive overall grade of 90.0 at PFF, the second-highest among cornerbacks this season. He has been a tough player to crack for the opposition, with a completion rate of only 45.5% when targeted. This makes him the fourth-lowest among the 111 cornerbacks this season. Due to his excellent performance, he has one of the lowest target rates in coverage. Quarterbacks tend to avoid targeting him due to his exceptional defensive skills.

Johnson was voted to the PFWA All-NFC Team and deserved to be paid. In his end-of-season press conference, Ryan Poles said Johnson wasn’t going anywhere. It’s possible the Bears could franchise tag Johnson, but they should reward him and get this one out of the way.

Franchise Tag(s)

With the Bears extending Jaylon Johnson, there’s no reason to use the franchise tag this offseason.

What’s Next?

Next Friday, the Bears Offseason Project will continue with the free agency signing period.

Yesterday’s Best

CHICAGO BEARS

CHICAGO BLACKHAWKS

  • Tab has you covered on the latest Chicago Blackhawks prospect notes in his Prospect Watch on Thursday.

  • The Blackhawks were in Edmonton on Thursday evening …

CHICAGO BULLS

  • The Bulls were in Los Angeles last night to take on the Lakers …

CHICAGO CUBS

What’s on deck?

The Blackhawks and Bulls are both off tonight after late-night affairs on Thursday evening.

The Blackhawks take on the Calgary Flames on Saturday at 9 PM CT. You can catch the action on NBC Sports Chicago and ESPN+.

The Bulls are in Portland on Sunday to take on the Blazers at 8 PM CT on NBC Sports Chicago.