The Cincinnati Bengals made a mistake by declining opportunities to sign superstar wide receiver Ja'Marr Chase to a contract extension before the 2024 season. A franchise routinely known for its stubbornness in contract negotiations decided to kick the can down the road. It's ultimately going to cost them dearly as Chase's price has undeniably gone up.
Chase became eligible to sign an extension in the offseason after completing his third professional campaign in 2023. Unsurprisingly, discussions went nowhere, prompting Chase to conduct a hold-in, which kept him out of preseason action and certain training camp activities. The Bengals were content to allow their premier playmaker to earn a modest $4.8 million in 2024 without long-term guarantees.
While the Bengals were dragging their feet and negotiating in poor taste, the wide receiver market continued to explode. In June, Justin Jefferson, arguably the only pro receiver that warrants comparisons to Chase, signed a four-year extension worth $140 million with $110 million in guarantees. Jefferson became the highest-paid non-quarterback in the NFL at an average of $35 million per year.
Is Ja'Marr Chase the best WR in the league? 👀#RuleTheJungle pic.twitter.com/Zt5jJIkchC
— NFL GameDay (@NFLGameDay) November 12, 2024
Nearly three months later, the Dallas Cowboys signed CeeDee Lamb to a nearly identical extension. Lamb inked a four-year deal totaling $136 million with $100 million in guarantees, accompanied by a $38 million signing bonus. His average annual earning of $34 million fell just $1 million short of matching Jefferson. Brandon Aiyuk, AJ Brown, and Amon-Ra St. Brown also surpassed $30 million annually via new contracts this summer.
And Chase is outperforming all of them this season.
Playing with more motivation than ever, Chase currently leads all receivers in receptions (66), receiving yards (981), and touchdowns (10). That's especially impressive when considering Chase actually ranks fourth in targets. He's a legitimate candidate to win the receiving Triple Crown this season.
Chase's latest showing was historically impressive. He absolutely torched the Baltimore Ravens in a primetime losing effort for 11 catches on 17 targets for 264 yards and three touchdowns. His agent tweeted the following after that performance.
he keeps making my job easier lmao
— caitlin aoki (@caitlinaoki13) November 8, 2024
Naturally, Chase is on schedule to conclude the campaign with career highs in receptions (119), receiving yards (1,766) and touchdowns (18). Completing the triple crown could catapult Chase as the front-runner of the AP Offensive Player of the Year discussion. If the Bengals successfully turn their season around and gain entrance into the postseason, he could even earn a few rare non-quarterback votes for NFL MVP.
Chase possesses leverage in negotiations. The Bengals have already triggered his fifth-year contract option for 2025, but they can't realistically expect him to play out next season without signing an extension and exposing himself to the franchise tag possibility. Loyalty to a performing player and fan base that has accepted Chase as a face-of-the-franchise talent should defeat stubbornness. Don’t nickel and dime your star.
Chase’s representation will anticipate signing a four-year extension that exceeds Jefferson’s $35 million per season. Chase could even push to become the first $40 million per year non-quarterback in NFL history. Perhaps negotiations will settle in the middle, with a four-year agreement reaching $150 million ($37.5 million APY) satisfying all parties.
Chase is making the Bengals pay for their inaction over the offseason. For now, Cincinnati's ownership is figuratively paying for their unwillingness to conduct honest negotiations. Soon, they'll be paying literally.
