The Chicago Bears' looming decision at quarterback will define their offseason, but their biggest task on the defensive side of the ball is complete.

As first reported by Jordan Schultz of Bleacher Report, the Bears have agreed to terms with cornerback Jaylon Johnson on a four-year extension worth $76 million.

Per ESPN's Adam Schefter, Johnson will get $60 million in the first three years of the deal, including $54 million guaranteed. According to Jeremy Fowler of ESPN, $43.8 million is guaranteed at signing, with $28 million in the first year.

Johnson was franchise tagged by the Bears this week at a value of $19.8 million for 2024. His average annual value for his extension comes in at $19 million, the seventh-highest for the cornerback position.

A higher position on that list might have been expected given Johnson had an extremely strong case for being considered the best cornerback in football in 2023.

Johnson was named a second-team All-Pro following a superb campaign in which he allowed the lowest passer rating in the NFL (33.3) among corners with at least 300 coverage snaps, having given up just 195 yards on 25 receptions, that tally also the best in the league. Additionally, Johnson had four interceptions along with the highest Pro Football Focus coverage grade in the league.

And in comparison to his A to Z Sports' contract projection, Johnson's deal is a huge bargain for the Bears. That projection had Johnson resetting the market from a perspective of average annual value with a four-year deal worth $90 million with $40 million fully guaranteed.

The full guarantees are not yet known but, in signing Johnson to a much cheaper contract than anticipated, the Bears appear to have reached a compromise reflective of the amiable nature of negotiations that general manager Ryan Poles alluded to during the Combine.

Said Poles:

"In the process of getting Jaylon Johnson done, conversations are going well at this time. We feel like we've done a really good job kind of coming to the table strong, [and] showing the respect that he's due just in terms of his production to [this point in] his career. [We] really put an emphasis on the turnovers that he created this past year. Our expectation is that's going to continue to go as he's with the Bears."

In finding the middle ground and tying down a player who was A to Z Sports' 11th-ranked free agent by projected average annual value to what looks a very reasonable deal for the team, the Bears have ensured they will have a top-tier cornerback during his prime years. 

Johnson is still only 24 and will be 29 when he hits the market again in 2028. Already established as a premier corner in the league, Johnson's ceiling will be reached in a Bears uniform. How high that ceiling is remains to be seen, but it will be tantalizing for Chicago fans to think about.

The Bears are still under pressure to get a seemingly inevitable Justin Fields trade right, but they look to have absolutely nailed what could have been an extremely tricky situation with their most valuable defensive player.

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