Bears $80 Million Star Wants New Deal, as DJ Moore Cashes In: Report

The Chicago Bears already face a decision on an extension for wide receiver Keenan Allen only months after executing a trade with the Los Angeles Chargers to acquire him.

Chicago made the deal on March 14, landing the six-time Pro Bowler (2017-21, 2023) for a fourth-round pick. While that cost wasn’t exorbitant, the 110th selection in any NFL draft isn’t the kind of asset that front offices are in the habit of giving up willy-nilly.

Allen’s situation is unique in that his production has remained excellent, despite injury issues that have cost him 11 of 34 regular-season games over the past two campaigns combined. He hauled in 108 receptions for 1,243 receiving yards and 7 TDs in just 13 contests last year.

However, his age and his recent injury history are legitimate concerns for a player looking to cash in one last time on a multiyear deal as the receiver market booms around the league. Allen is entering the final season of a four-year, $80.1 million deal in 2024.

“Allen recently changed agents, and with one year and $18.1 million left on his contract, he has approached the [Bears] about an extension. But so far, they haven’t made progress on that front,” Dan Graziano of ESPN reported on Saturday, August 3. “They’ll likely wait and see on the 32-year-old Allen before committing beyond this year.”

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Bears’ Decisions to Draft Rome Odunze, Extend DJ Moore Complicate New Deal for Keenan Allen

Complicating the issue further is Chicago’s selection of Rome Odunze with the No. 9 overall pick in this year’s draft. The Bears’ move for Allen happened more than six weeks prior to the drafting of Odunze, the NCAA leader in receiving yards in 2023, which was far from a certainty in mid-March.

The franchise just inked Odunze, 22, to a $22.7 million rookie deal and paid star wideout DJ Moore, 27, to the tune of a four years and $110 million. Tight end Cole Kmet, 25, also signed a $50 million contract in 2023.

The question now becomes will there be enough of the football to go around in the long-run with Allen — who has seen 150 targets or more in three of his 11 years in the NFL (not to mention another two of 149 and 147 targets, respectively) — functioning as a primary part of the group?

On top of that are queries about whether Allen can remain healthy, how his game might age over the next few years due to wear and tear, and whether Chicago must attempt to extend him simply because of the quality of the draft asset the team surrendered to acquire him?

It is also fair to ask if the Bears would have dealt for Allen in March if they knew they would have three potentially star-level pass-catchers under contract for the next several years with whom to surround Williams as he transitions into what the organization hopes will be a franchise QB?

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Some Advantages Exist if Bears Decide to Extend Keenan Allen Now

There are benefits for Chicago should it decide to extend Allen now. For instance, the team could restructure his contract around an extension to reduce the $23.1 million salary cap hit it represents in 2024.

That, in turn, would free up more money to pursue needs at edge rusher and potentially along the interior of the offensive line, which must hold up if the Bears hope to surprise in the NFC North Division and contend for the playoffs. Chicago has just north of $12.2 million in available cap space as of Saturday.

General manager Ryan Poles indicated earlier this offseason that the “wait-and-see” approach Graziano noted would probably be the path forward.

“We’re just going to keep it moving through the season and see how everything plays out,” Poles said on ESPN Chicago’s “Waddle and Silvy Show” in early May. “There isn’t a sense of urgency there right now, but we’ll see how everything unfolds as we get into the season.”

Those plans could change and the Bears could pivot, as they presumably did after trading for Allen when Odunze fell into their collective lap at No. 9 overall. However, it appears Allen will kickoff the regular season in Chicago on September 8 against the Tennessee Titans under contract with the Bears for only the 2024 campaign.

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