On the first day of training camp for the Chicago Bears, the organization signed one of their key offensive weapons to a contract extension. According to Adam Schefter and Field Yates of ESPN, Cole Kmet and the Bears have agreed to a four-year extension worth a total of $50 million. The extension includes $32.8 million in guaranteed money and $20 million in new first-year cash. According to OverTheCap, Kmet will carry a cap hit of $11.6 million in each of the four years of his new extension. That new cap hit will start in 2024. Kmet’s cap hit for this season is only $7.36 million.
Instant Reactions at Halas Hall
After the first training camp practice, Matt Eberflus confirmed in a press conference that Kmet had signed an extension with the team. The head coach of the Bears expressed his excitement to have Kmet around for the long haul. Eberflus stated that Kmet “represents everything we want to represent here at the Chicago Bears.” Kmet told the media that he found out about the final contract agreement from his agent about 20 minutes before the first practice of training camp. Kmet will earn an average of $12.5 million per year, now tied for ninth in the NFL among tight ends. Kmet received a sizable payday, and he deserves it.
Where does Cole Kmet’s new contract rank amongst other tight ends? (Numbers per Over The Cap)
Total Value: Kmet’s four-year, $50 million extension will rank eighth among active NFL tight ends. The tight ends that currently have bigger contracts than Kmet are George Kittle, Travis Kelce, Dallas Goedert, Mark Andrews, David Njoku, Dawson Knox and Darren Waller.
Average Annual Value (AAV): The AAV for his new contract is $12.5 million. That is tied for ninth among active NFL tight ends. The tight ends earning more money per year than Kmet are Darren Waller, George Kittle, Travis Kelce, Dallas Goedert, Mark Andrews, Evan Engram, David Njoku and Dawson Knox. Hunter Henry’s current contract also has an AAV of $12.5 million.
Why did the Bears Extend Cole Kmet?
Cole Kmet grew up in Lake Barrington, Illinois, as a devoted Bears fan. He attended Notre Dame for three years before being selected by the Bears with the 43rd pick of the 2020 NFL Draft. Since then, he has played a significant role in the offense. Kmet has three seasons of professional football in his belt and has operated as the Bears’ number one tight end for the past two seasons. He has amassed 1,399 receiving yards and nine touchdowns on 138 receptions while never missing a game. He had a breakout year last year, specifically in the touchdown category. Kmet led the Bears in receiving touchdowns (7). He had back-to-back two-touchdown games against the Miami Dolphins (week 8) and Detroit Lions (week 9). He also led the team in receptions (50) and receiving yards (544). According to ESPN Stats & Info, Kmet joined Travis Kelce and Mark Andrews as the lone tight ends to rank first on their team in all three categories last season. Kmet received a sizable payday, and he’s earned it.
Will Kmet’s production continue to increase?
Despite his moderately successful NFL career, Kmet’s target share is expected to decrease this year. The Bears acquired DJ Moore when they traded the number one overall pick in the 2023 NFL draft to the Carolina Panthers. The Bears acquired another tight end in free agency when they signed Robert Tonyan to a one-year contract. Tonyan has experience in Luke Getsy’s offense because they both spent time together in Green Bay. Tonyan projects to be a nice compliment to Kmet in what is a big year for Justin Fields’ development.
This extension signals to Bears fans that General Manager Ryan Poles views Kmet as an integral part of his plans for the future. Although Kmet may see fewer targets, his touchdown production should stay consistent as Chicago’s offense improves.
What’s next for Ryan Poles?
Now that Kmet is signed through the 2027-28 season, the Bears need to work on signing other members of their 2020 draft class. Jaylon Johnson and Darnell Mooney are in the last year of their rookie deals. Ryan Poles should work quickly if he wants to keep his homegrown talent.
