Chicago Bears general manager Ryan Poles made a massive splash when he traded for veteran wide receiver Keenan Allen. Poles inherited the final year of Allen's contract in the deal. The six-time Pro Bowler had previously signed a four-year, $80.1 million contract extension with the Los Angeles Chargers.
Allen is scheduled to earn a base salary of $18.1 million in 2024 according to Spotrac. The former USC standout is carrying a manageable cap charge of $23.1 million this campaign. Both figures qualify as team-friendly for Poles and the Bears, especially after recent occurrences at wide receiver, and what's yet to develop.
I think Keenan Allen will be the first of the #Bears WRs to hit 1k yards.
— Just Another Year Chicago: Bears (@OfficialJAYCHI) June 11, 2024
New conference, has ripped apart each NFC North team, and is in a contract year.
If he hits it, hope Poles extends him for 2-years. pic.twitter.com/RvJuJvmfA7
The Minnesota Vikings recently signed superstar wideout Justin Jefferson to a four-year extension worth a record-breaking $140 million with a historic $110 million in guarantees. The Bears got a steal in Allen. Jefferson deserved his massive payday, but it shines a light on the value the Bears are getting in Allen this season.
Jefferson's deal will reset the wide receiver market. The Dallas Cowboys will soon sign CeeDee Lamb to a similar high-price extension. Ja'Marr Chase is also due for a new multi-year contract with the Cincinnati Bengals. This is simply what great receivers are earning nowadays.
Keenan Allen on his contract situation with the Bears. 👀 pic.twitter.com/3JdxCnEoaS
— theScore (@theScore) June 6, 2024
Allen's average salary figure in 2024 ranks 19th among all wide receivers. For comparison purposes, he ranked 11th in the league in receiving yards last season with 1,243. Adding Allen ensures the Bears will possess an incredible trio of receivers alongside D.J. Moore and Rome Odunze. Not only is Allen a proven pro, but he'll also be an incredible asset for rookie quarterback Caleb Williams both on and off the field.
Jefferson's extension makes the Bears' deal for Allen look like chump change in comparison. The impending Lamb and Chase extensions will continue forwarding that narrative. Let's hope Allen rewards the Bears. It's worth acknowledging these recent happenings could have an impact on potential contract negotiations between Allen and the Bears.
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