Ryan Poles’ financial management is setting up the Bears’ offense for success, no matter whether the quarterback is incumbent Justin Fields or a new comer, most likely Caleb Williams.
Poles landed six-time Pro Bowl wide receiver Keenan Allen in a trade on Thursday night, sending the Los Angeles Chargers only a fourth-round pick. He pulled off this one-sided deal because the Bears were positioned to take on Allen’s $23.1 million cap hit in 2024.
Allen joins DJ Moore to give Chicago one of the best receiver duos in the NFL. Between them, they caught 204 passes for 2607 yards and 15 touchdowns last season.
Poles has carefully been accumulating assets to help a young quarterback. He extended tight end Cole Kmet’s contract last season and has added running back D’Andre Swift and tight end Gerald Everett in free agency this week.
The Chargers meanwhile offloaded Allen, Everett, wide receiver Mike Williams and running back Austin Ekeler due to a salary cap crunch. The Bears had the third most cap room in the league before the trade, and with Allen rostered still are about $34 million over the cap.
It’s unclear how long the Bears will be able to pair Moore with the 31-year-old Allen, who is due to be an unrestricted free agent after next season. Moore is in the second year of a three-year, $61.884 million extension he signed before being included in the deal that sent the first pick in the 2023 draft from Chicago to Carolina.
The Bears hold the first and ninth picks in this year’s draft. They allowed No. 2 receiver Darnell Mooney to leave as a free agent and are positioned to add a wide receiver or edge rusher with the ninth pick, assuming they take Williams or another quarterback with the first pick.
Ian Rapoport of the NFL Network reported the Chargers approached Allen about taking a pay cut before trading him. He had signed a four-year, $80.1 million contract extension in September, 2020.
Poles created some cap space by releasing veterans Cody Whitehair and Eddie Jackson with one year left on their contracts. When he signed cornerback Jaylon Johnson to a four-year, $76 million extension last week, he structured the deal such that Johnson has only a $13-million cap hit in 2024.
Poles has been active filling needs in this free agent period but didn’t commit the Bears to a bigger contract that Swift’s three-year, $24 million deal. He has spent heavily on defense in the past, with a combined $170 million going to edge rusher Montez Sweat and linebacker Tremaine Edmunds.
Playing alongside Allen and Moore seems like an ideal situation for a rookie wide receiver. The Bears could wind up with one of the top three available (Marvin Harrison Jr., Malik Nabors and Rome Odunze) if they don’t trade down in the first round.
This is a huge upgrade over the offensive inventory in Chicago when Fields took over as that starting quarterback in 2021. The Bears have gone 10-28 with him as the starter.
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