Hours after Rome Odunze‘s signature was on his rookie contract, Caleb Williams was also putting pen to paper. The Bears are also signing their No. 1 overall pick to his rookie deal Tuesday, ESPN.com’s Adam Schefter reports.
This will be a fully guaranteed four-year deal worth $39M. While this is a fraction of what No. 1 picks commanded before the 2011 CBA reshaped rookie pacts, Williams’ slot price sits higher than anyone drafted since. The Bears, who traded Justin Fields to make room for the 2022 Heisman winner, now have this year’s top draftee signed through 2027.
Williams marks the latest QB swing from a Bears team that has been unable to find a true franchise-level option. Fields showed some improvement last season, but Williams’ ceiling is viewed as considerably higher. Chicago’s whiff on Mitch Trubisky remains one of the most infamous transactions of the modern draft era, as Patrick Mahomes and Deshaun Watson were drafted soon after. The team’s Jay Cutler trade, which cost two first-round picks and change, produced one playoff berth in eight seasons. A 2023 Panthers trade, however, changed Chicago’s fortunes and led to a rare opportunity.
The Bears did pass on C.J. Stroud by sending the Panthers the 2023 top pick, leading to Carolina choosing Bryce Young. Although GM Ryan Poles attempted to give Fields a shot at making a case to be the team’s long-term option, the Panthers finishing 2-15 changed the Bears’ plans. Few expected Chicago to seriously entertain trading out of No. 1 for a second straight year, and the team did not. The Bears instead unloaded Fields — for a price (a conditional sixth-round pick) much lower than most anticipated — to clear the decks for Williams. With no notable backup, the former Lincoln Riley pupil will soon move into Chicago’s starting lineup.
The Bears already named Williams their starter, though that status was never in doubt. The former Oklahoma recruit-turned-USC superstar had established himself as the clear-cut top option in this year’s class during his 2022 Heisman-winning season. Williams did not fare as well as a junior but did not do enough to fall in the draft. This year’s spree of draft rumors centered around five quarterbacks, not six, as Williams-to-Chicago was an open secret for weeks.
Although some evaluators referred to Williams’ combine interviews as “not great,” the dynamic talent was never closely connected to any team but the Bears. That set him apart from Young last year, as the Panthers were also tied to Stroud and Anthony Richardson, and placed Williams closer to the Trevor Lawrence and Joe Burrow levels. Williams’ supporting cast looks better than both of those talents coming in.
Williams totaled 4,537 passing yards, with a 42-5 TD-INT ratio, during his Heisman season. Although the Trojans took a step back in 2023 by losing five of their final six regular-season games, Williams still closed with a 30-5 TD-INT ratio, improving his completion percentage from 66.6% to 68.6%. Williams’ yards per attempt number (9.4) also bettered his Heisman average (9.1). Williams averaged at least nine yards per pass in his three college seasons.
The 6-foot-1, 214-pound passer will now team with one of the top receiver groups in Bears history, with Chicago adding Keenan Allen and Odunze to a group fronted by D.J. Moore. The Bears also have Cole Kmet and ex-Shane Waldron charge Gerald Everett rostered at tight end. After Trubisky and Fields struggled with limited pass-catching help, Williams will begin an attempt to reverse this franchise’s miserable modern QB history with a deep array of weaponry.
Going into training camp, here is how the Bears’ 2024 draft class looks: