Following another busy offseason with an unusual amount of spending from the new regime, it’s time to take a checks and balances of the Chicago Bears current state of the cap.
With the chaos of the 2025 NFL offseason winding down, most teams are entering their final preparations before the start of training camp. Once again, the Chicago Bears were one of the busier teams this offseason. The process began in January, following the replacement of Matt Eberflus, and continued until the conclusion of the late April draft.
In total, Chicago signed 18 veteran free agents, made eight draft picks, and signed another 11 undrafted free agents. Due to General Manager Ryan Poles’ vigorous activity in overhauling the roster since taking the reins in 2022, there are just three players on the 91-man roster who are holdovers from the Ryan Pace era. In that time, Poles’ teams have won just 15 games in three years, but appear primed to take off in 2025. That is thanks in large part to his aggressive approach this offseason, which extends far beyond the player acquisition portion of the offseason. They were able to land arguably the most attractive head coaching candidate, Ben Johnson, who assembled one of the best coaching staffs this franchise has seen in decades.
Now that the majority of the offseason smoke has cleared, it’s time to take a deeper dive into the Bears’ current cap situation for 2025 and examine some possibilities moving forward before Week 1 and during the season.
Re-signs (12)
Heading into the offseason, the Bears had 31 free agents, including five restricted and five exclusive rights categories. Typically, exclusive rights free agents are a virtual lock to be extended a tender, barring a surprise. Due to the rising cap, restricted free agent tenders have become less common; hence, only one player received a First Right of Refusal tender. Finally, of the 21 unrestricted free agents, the Bears have only re-signed seven so far. Over Poles’ first four years, this hasn’t been an overly active period for him, despite the roster being full of players he has brought in. I suppose that’s what happens when a team wins 15 games over three years and constantly shuffles the bottom end of its roster.
DT Chris Williams one year, $3.263 million (First Right of Refusal Restricted Free Agent Tender)
CB Josh Blackwell two years, $5 million ($2.45 million guaranteed)
LB Amen Ogbongbemiga two years, $4.97 million ($2.45 million guaranteed)
RB Travis Homer one year, $1.75 million ($1 million guaranteed)
LS Scott Daly one year, $1.338 million ($167,500 guaranteed)
S Tarvarius Moore one year, $1.17 million
DT Jonathan Ford one year, $1.03 million (Exclusive Rights Free Agent Tender)
DE Daniel Hardy one year, $1.03 million (Exclusive Rights Free Agent Tender)
iOL Bill Murray one year, $1.03 million (Exclusive Rights Free Agent Tender)
CB Ameer Speed one year, $1.03 million (Exclusive Rights Free Agent Tender)
TE Stephen Carlson one year, $1.03 million
C Doug Kramer one year, $1.03 million
Acquisitions (18)
The Bears were one of the more active teams in the trade market around the start of the acquisition period. Instead of overpaying in a watered-down free agent guard market, Poles and his front office got creative in filling needs. Once free agency hit, their list of needs became more focused. Rounding out the interior offensive line, adding two key pieces to the defensive line, and additional complementary pieces to both sides of the ball rounded out a quality free agent approach. As a whole, this was one of the more active periods in recent memory, not to mention, relatively expensive from a cash spending perspective.
Trade Acquisitions:
RG Jonah Jackson (Sent a 2025 sixth-round pick to the Los Angeles Rams)
LG Joe Thuney (Sent a 2026 fourth-round pick to the Kansas City Chiefs)
Impact Free Agents:
C Drew Dalman three years, $42 million ($28 million guaranteed)
DE Dayo Odeyingbo three years, $48 million ($32 million guaranteed)
DT Grady Jarrett three years, $43.5 million ($28.5 million guaranteed)
WR Olamide Zaccheaus one year, $1.5 million ($750,000 guaranteed)
QB Case Keenum one year, $2.25 million ($2.155 million guaranteed)
TE Durham Smythe one year, $2.5 million ($1.5 million guaranteed)
Other Free Agents:
WR/KR Devin Duvernay one year, $1.338 million ($168,000 guaranteed)
WR Miles Boykin one year, $1.17 million
CB Nick McCloud one year, $1.32 million ($50,000 guaranteed)
CB Nahshon Wright one year, $1.1 million
CB Shaun Wade one year, $1.1 million
Waiver Wire Claims:
iOL Jordan McFadden two years, $2.175 million remaining
Futures Contracts (From Other Teams):
LB Swayze Bozeman one year, $960,0000
DB Alex Cook one year, $960,000
WR Maurice Alexander one year, $1.03 million
OL Joshua Miles one year, $1.03 million
Mark J. Rebilas-Imagn Images
Extensions (4)
Despite bringing in a new coaching staff, Poles has made it a priority to extend key players for the next three seasons. Following the trades for Jackson and Thuney, the former Lion was “rewarded” with an additional year and extra guaranteed money. Next was Kyler Gordon and T.J. Edwards. Even though Dennis Allen is in his first year as the team’s defensive coordinator, both players were rewarded for their past production with quality extensions. Finally, Thuney was given a two-year extension, all but guaranteeing that he’ll retire as a Bear. The common theme between free agency and these extensions is the timeline. All key players signed will be under contract through at least 2027, with players like Jackson and Gordon signed through the 2028 season. This keeps a young core intact while relying on older veterans to continue playing at a high level. If all goes well, Chicago won’t need to be nearly as active next offseason when it comes to acquiring players to fill holes.
RG Jonah Jackson three years, $54.5 million ($29.75 guaranteed)
CB Kyler Gordon three years, $40 million ($28 million guaranteed)
LB T.J. Edwards two years, $20 million ($11.25 million guaranteed)
LG Joe Thuney two years, $35 million ($17.5 million guaranteed)
Draft Class
Of their eight selections, just one (No. 10 overall) of those picks was initially owned by the Bears. Poles stayed active throughout draft weekend, wheeling and dealing down the board to pick up additional picks. Some of that was due to how the running back board fell into their hands, but in the end, they have a chance to produce four impact players from this class in Year 1. Assuming all eight picks make the final 53-man roster, which is not a given, the actual cost of this eight-man class will come in at $6.582 million for 2025. The team also guaranteed $715,000 to their collection of undrafted free agents, most of which would count as dead space if none of the 11 made the roster.
Round 1 (#10): TE Colston Loveland (Michigan)
Round 2 (#39): WR Luther Burden III (Missouri)
Round 2 (#56): DT Shemar Turner (Texas A&M)
Round 2 (#62): OT Ozzy Trapilo (Boston College)
Round 4 (#132): LB Ruben Hyppolite II (Maryland)
Round 5 (#169): CB Zah Frazier (UTSA)
Round 6 (#195): iOL Luke Newman (Michigan State)
Round 7 (#233): RB Kyle Monangai (Rutgers)
Where They Stand, Upcoming Expenses, and Other Potential Cap Clearing Moves
Following the draft, undrafted free agency, and Thuney’s extension, the Bears are sitting in solid shape heading into training camp. The money saved in 2025 on Thuney’s extension alone ($8 million) is enough to pay for their draft class and any dead charges from their undrafted free agent class. As of now, all three second-round selections are unsigned, meaning they don’t officially count toward the team’s Top 51. In the coming weeks, fans can expect the Chicago team to finalize their draft class signings and take a closer look at their remaining needs.
Where They Stand:
Current Cap Space (Top 51): $14.756 million
Remaining Draft Class (Effective Cost): -$1.594 million
Effective Cap Space (Post-Draft Class): $13.162 million
Total Upcoming Expenses: $9.7 million (Estimated)
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16-Man Practice Squad: $4.5 million (Estimated)
Cap Accounting From 51 to 53 Players: $2.2 million (Estimated)
In-Season Spending (Injured Reserve and Roster Shuffling): $3 million (Estimated)
Expected Cap Space Following All Accounting: $3.462 million
Following the significant roster shuffle in late August, which will result in the release of at least 37 players, the formation of a practice squad, and cap accounting expanding from the Top 51 to all 53 players, the Bears will have approximately $6.436 million in space heading into the season. Assuming there are roughly $3 million due to in-season costs, their “true” cap number is closer to the $3.462 million figure shown above. If they don’t use that additional money, they can roll it over into next year. My guess is that they’ll look to make a few more moves during training camp and the cutdown period.
The bigger question will be whether or not $3.5 million or so is enough to accomplish what they want to do. I expect that they’ll want to clear some additional space. The good news is that there are plenty of ways to do that without significantly impacting their current roster.
Potential Cap Clearing Moves (Cuts):
iOL Ryan Bates $3.5 million (Health Dependent)
DT Chris Williams $3.263 million
K Cairo Santos $3.2 million
DT Zacch Pickens $1.274 million
Potential Cap Clearing Moves (Restructures Without Void Years):
WR D.J. Moore $15.716 million max savings
DE Montez Sweat $13.22 million max savings
CB Jaylon Johnson $9.887 million max savings
Scanning over the list of potential cap-clearing moves, there aren’t many players that would qualify as noteworthy cuts when it comes to saving money. Bates is a name to keep an eye on due to the arthritic condition in his arm that gave him issues last season. Williams appears to be another strong candidate for his cap hit to be altered, either through a pay cut or a late-August release. Pickens is the most likely player to be cut from this group, but also provides the least amount of savings, with a maximum of $474,000, assuming his replacement comes in at the minimum of $840,000. Santos feels like a safe bet to stick on the roster, barring undrafted free agent Jonathan Kim taking the world by storm during camp and the preseason.
Assessing the addition moves for created cap space, Moore still stands out as someone who could make sense to restructure. He’s still one year away from his four-year, $110 million extension kicking in, which all but locks him into 2026, barring a surprise trade. Using a simple restructuring template, they could save $15.716 million in 2025, while adding just under $4 million in dead space from 2026 through the end of his deal in 2029. Poles could choose to do something similar with Sweat instead, but due to the structure and length of his deal, it would result in an additional $5.5 million in dead money through the final two years of his contract. Johnson is the only other candidate for a big savings move, but a simple restructure would add just short of $5 million dead space to the existing two years of his deal starting in 2026. The 26-year-old projects to have the longest future remaining with the team, but adding any dead figure to future years would make a future pay raise that much harder to accomplish.
When all is said and done, restructuring Moore, while cutting Pickens and possibly Williams, would give the Bears the flexibility this season to add a few more pieces, while also rolling over valuable space into a much tighter 2026 outlook.
Joe Nicholson-Imagn Images
Remaining Free Agent/Trade Needs
Looking at the current 91-man roster, there aren’t many glaring weaknesses, at least on paper. With the newfound cap flexibility from the Thuney extension, Chicago has set itself up to make another move (or two) if it chooses to do so. With that in mind, it’s essential to keep an eye on their 2026 cap outlook, which will be considerably tighter than it has been over the last three offseasons.
Although the Bears should exercise a conservative financial approach to wrap up the offseason, there’s little reason why they can add a few players to bolster their roster before Week 1. Here are their five remaining needs:
- Defensive End
Without getting too wrapped up in particular names, let’s just say that this group is one injury away from having a lot of issues. Sweat and Odeyingbo are a fine starting duo, but the depth behind them is concerning. Even if they expect Austin Booker to take a step in Year 2, there’s little behind him in the way of proven depth, especially with Daniel Hardy seeing time at linebacker.
There are a few free agent names that could make sense, but my hunch is that they will continue to wait for prices to go down before engaging in serious talks with one. I’m simply thinking out loud here, but I can’t help but wonder if players like Matthew Judon (free agent) or D.J. Wonnum (cut/trade candidate) would have a renewed interest one offseason after failing to land one of them.
- Running Back
This is a position that remains a topic of discussion both locally and nationally. After staying quiet in free agency and missing out on multiple targets in the draft, it’s fair to wonder if they are comfortable enough with a trio of Swift, Monangai, and Roschon Johnson. So far, they’ve played it smart, allowing their current depth chart to compete during OTAs and minicamp, but no one should be surprised if they go out and make a move for someone a little more proven.
With both Nick Chubb and J.K. Dobbins signing over the last week, a name like Kenneth Walker III is an intriguing trade candidate to keep an eye on the closer we get to the regular season. He would be an ideal fit in Johnson’s offense, even if he’s in the final year of his four-year rookie contract.
- Safety
Looking at the team’s depth chart, safety doesn’t stand out as an immediate need. Fast forward a year into the future, and they don’t have a single player set to return. Maybe one of their undrafted free agent signings impresses during camp and pushes for a starting job in 2026. More than likely, they’ll be in a spot where they are going to have to turn over most, if not all, of the depth chart. That’s where names like Marcus Williams or even Julian Blackmon come in. Both are still under the age of 30, and a player like Williams has experience in Allen’s defense. Even if he comes in as depth and the third safety, Williams could make sense as a multi-year stopgap.
- Linebacker
At the start of OTAs, Johnson was asked about the linebacker spot—namely, the open SAM role. Despite spending a fourth-round selection on Hyppolite, it’s easy to see why the Bears might look for another veteran to bring in before the start of Week 1. It’s worth noting that Allen tends to use an extra defensive back far more than a third linebacker, but the depth behind the starting two is unproven. Not to mention that there’s a strong chance Tremaine Edmunds will not be brought back in 2026. This would be a move with both the present and future in mind. Similar to running back, they have been smart to let the situation play out, but in the end, fans shouldn’t be surprised if they make another addition to this room.
- Additional Interior Offensive Line Depth
The final addition on this list might come as a surprise to some, but without Ryan Bates as depth, the interior offensive line would lack a proven backup. Bates has been absent for the majority of the offseason program. Coming off a season where he struggled to play due to an arthritis condition in his arm, there’s reason to wonder if he’s going to be healthy enough to play in 2025. Sure, they spent a sixth-round selection on Luke Newman, but unless he’s considerably better than his college tape, he looks more like a developmental practice squad player in Year 1 than someone they would rely on to spot start. In an ideal world, they would have a proven veteran and a name like Bill Murray as their primary depth. This will be more health-dependent on Bates than anything, but with multiple quality names remaining on the free agent market, fans should keep an eye on this spot as a surprise move in the coming months.