Bears' No. 1 Pick Caleb Williams Remains Unsigned Amid Contract Negotiations

The Chicago Bears are facing a delay in finalizing a contract with Caleb Williams, the top pick in the 2024 NFL Draft, as training camp approaches. Despite his status as a former USC star quarterback and Heisman Trophy winner, Williams has yet to sign with the Bears, according to a recent report from Pro Football Talk.

As of early July, Williams is one of five first-round picks still unsigned, including his fellow Bears rookie, wide receiver Rome Odunze, drafted ninth overall. The others awaiting contracts are Minnesota Vikings' quarterback J.J. McCarthy, edge rusher Dallas Turner, and Cincinnati Bengals' offensive tackle Amarius Mims.

Williams' anticipated four-year deal is valued around $38.5 million, a figure just above last year’s top pick, Bryce Young. The Bears are working to secure contracts for Williams and Odunze before rookies report to training camp on July 16.

The hold-up in Williams' contract, as with the other unsigned rookies, is largely due to ongoing negotiations over three main categories: the timing of signing bonus payments, conditions that could void guarantees, and potential guarantee offsets. Teams and players are typically at odds over how much of the signing bonus should be paid immediately versus deferred, the circumstances under which guarantees might be voided, and how earnings from other teams might affect guaranteed money if the player is released.

For Williams, who enters the NFL with an illustrious college record—including 4,537 yards, 42 touchdowns, and five interceptions in his sophomore year at USC, followed by 3,333 yards, 30 touchdowns, and five interceptions in his final year—the contract negotiations are crucial. The Bears are keen to get their prized pick on the field as soon as possible, especially given the potential he showed at USC.

With training camp just around the corner, the pressure is on for the Bears and Williams’ camp to finalize the contract. The team hopes to avoid any further delay to ensure Williams' full participation and integration into their offensive scheme.

While most of the 2024 draft class has already inked their deals, the Bears are optimistic about securing Williams’ and Odunze’s contracts shortly, aligning with the urgency seen across the league to finalize rookie deals ahead of the preseason.