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BALTIMORE, MARYLAND - OCTOBER 26: Caleb Williams #18 of the Chicago Bears reacts after the game against the Baltimore Ravens at M&T Bank Stadium on October 26, 2025 in Baltimore, Maryland. (Photo by Scott Taetsch/Getty Images)
Pro Football Talk’s Mike Florio commented on how Chicago Bears franchise quarterback Caleb Williams could be next in line to get paid after Kansas City Chiefs QB Patrick Mahomes agreed to a restructured contract that adds two additional years to his deal with a payout of around $64 million per year.
“When it comes time for Williams to get a new deal, the Mahomes number will drive the discussion,” Florio wrote. “Especially if Williams continues to be on a trajectory that could put him among the top four or five quarterbacks in football.”
But what if Mahomes isn’t the QB to drive the discussion, but rather, Baltimore Ravens star QB Lamar Jackson? With the latest report by NFL insider James Palmer, that could be the case.
GettyBALTIMORE, MARYLAND – OCTOBER 26: Lamar Jackson #8 of the Baltimore Ravens looks on from the sideline prior to the first quarter of the game against the Chicago Bears at M&T Bank Stadium on October 26, 2025 in Baltimore, Maryland. (Photo by Greg Fiume/Getty Images)
According to Palmer, Lamar Jackson could command $70 million per year in his next deal, topping Mahomes’ $64M per year salary. However, according to The Athletic’s Jeff Zrebiec, Ravens general manager Eric DeCosta said the Ravens’ organization and Jackson “ran out of time to get an extension,” but added that they are hopeful to reach an agreement soon.
As for Jackson, he wants to stay in Baltimore, saying, “I love the Ravens. I love this organization. I love this city. Just the team that drafted me, you know, got a lot of love from me.”
It’s not a matter of if, but when Jackson signs his extension, and it’s now on Bears general manager Ryan Poles to get an extension figured out soon for Caleb Williams.
“We’re making progress,” Poles said regarding an extension for Williams. “That is exciting to even be thinking about planning for that. It’s exciting. But then there’s a challenge after that, too.”
The Bears brought in Matt Feinstein, the team’s salary-cap guru and vice president of football administration, to present Poles and the rest of the Bears’ organization with possible extension ideas for Williams.
Bears GM Ryan Poles on the potential contract extension with franchise QB Caleb Williams.
“We’re making progress. That is exciting to even be thinking about planning for that. It’s exciting. But then there’s a challenge after that, too…..It’s really a summer project. Matt
If Lamar Jackson were to sign an extension before the Bears can negotiate a deal with Caleb Williams, it only gives Williams more leverage to up his APY.
On one hand, it’s hard to compare a two-time MVP and three-time First Team All-Pro in Jackson to Williams, but on the other hand, it’s not like the Bears have other options outside of giving Williams a mega-extension.
Still, the timing matters in today’s quarterback market.
Every new blockbuster deal raises the financial bar for the next franchise quarterback in line, and Williams appears positioned to eventually join that conversation. If he continues to develop under head coach Ben Johnson and takes the Bears back into playoff contention, Chicago’s leverage could shrink considerably.
That’s why the Bears’ front office is already preparing for the inevitable. Williams has shown flashes of the elite arm talent, creativity, and leadership that made him the No. 1 overall pick, and the organization is clearly viewing him as its long-term answer at the position.
The biggest question may not be whether Williams gets a record-setting contract, but how high the market climbs before negotiations begin. If Jackson resets the quarterback market at $70 million annually, other elite quarterbacks could follow, making Williams’ eventual price tag even steeper should his development continue on its current path.
Isaac Zuniga is a sports reporter covering the NFL for Heavy.com, with a focus on the Chicago Bears, Las Vegas Raiders, and Buffalo Bills. He has also covered major sporting events, including the 2026 Super Bowl, 2026 Winter Olympics, and 2026 World Cup. More about Isaac Zuniga
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