Despite reports that the Chicago Bears reached an agreement with No. 1 overall pick Caleb Williams on Tuesday, the 22-year-old quarterback remains unsigned as of Wednesday afternoon.
ESPN’s Adam Schefter reported that the Bears and Williams had agreed to a four-year, $39 million deal with $25 million guaranteed.
However, Pro Football Talk’s Mike Florio told 670 The Score on Wednesday that the deal isn’t finalized yet because the two sides are still negotiating the contract’s language, specifically Williams’ request for the Bears not to use the franchise tag on him after his rookie deal — a request the team declined.
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“My understanding is the contract isn’t signed,” Florio said. “They expect it to be; they’re haggling over language. And what I think they’re getting into is a situation where the lawyer who’s handling this isn’t as versed in the nuances of the contract as an experienced and competent agent would be.
“…One thing I’m told is there was an effort made to get the Bears to agree not to use the franchise tag on Caleb Williams after he would finish the fifth year of his contract, assuming they would pick up the option. But that did not go anywhere.”
Had the Bears conceded to Williams’ demand for a no-franchise tag clause, it would set a difficult precedent for future negotiations with No. 1 overall picks — a scenario the NFL likely wants to avoid.
“If he had [gotten the no-tag clause], it would have created a precedent on which plenty of future first-round picks could have capitalized,” Florio wrote. “And that’s good news for the NFL. If a no-tag clause ever became commonplace in first-round contracts, teams would have them for five years at the most, with no way to keep the market from determining their value as of Year 6.”
Williams’ reported contract would be the most lucrative and offer the highest guaranteed money given to a No. 1 overall pick since the NFL implemented the rookie wage scale in 2011, surpassing Bryce Young’s $37.95 million deal with $24.6 million guaranteed, according to Spotrac.
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