The Chicago Bears had $98 million to be invested in 2023 before last Friday’s trade with the Carolina Panthers. According to OverTheCap.com, the amount was $44.9 million as of Tuesday.
The Chicago Bears had a difficult season last year, going 3-14. With a brand-new executive corps in place, notably head coach Matt Eberflus and operations manager Ryan Poles, that was their poorest record since 2016.
Notwithstanding their performance, the Bears did have one significant bright spot last season, and that was Justin Fields’ progress as a signal caller. In the running game, the young quarterback produced 1,143 rushing yards and eight scores on 160 attempts.
He also had an astounding 7.1 yards per carry. His passing was less impressive though – he recorded less than 2,300 passing yards, which wasn’t particularly spectacular. It wasn’t really all his doing because Chicago’s system lacked excellent pass catchers.
The Bears had the hottest opening day of the free agent negotiating period among all the NFL franchises on Monday, and for good reason—they had more resources to pay than any other side.
With the signings of linebackers T.J. Edwards and Tremaine Edmunds from the Philadelphia Eagles and Buffalo Bills, respectively, the Bears strengthened their defensive system on the opening day.
DeMarcus Walker, a former Tennessee Titans defensive end, was added to the squad. In terms of offense, the group reached an agreement with former Titans guard Nate Davis.
The Bears had the highest salary cap heading into the off-season
The Chicago Bears had the most salary-cap room going into the NFL offseason. The Bears started using that cash on Monday.
According to Mike Garafolo, Davis’ contract is worth $30 million, $19.25 million of it is guaranteed. Edmunds’ deal, according to ESPN, is a four-year, $72 million agreement with guaranteed payments of $50 million.
The Bears have reduced their usable salary cap space in half thanks to that and the $20.1 million contract of D.J. Moore, who they managed to acquire on Friday in their trade for the No. 1 overall pick.
The team’s salary cap space at the beginning of the week was unreal. This month, the Bears were always going to be making purchases. The NFL does have a wage floor of sorts: during a four-year period, franchises must expend 89% of the salary limit. Not much was said about whether the Bears would spend, but rather how they would spend.