Bears apply franchise tag to cornerback Jaylon Johnson as sides haven't reached a long-term deal yet

(670 The Score) The Bears placed the non-exclusive franchise tag on star cornerback Jaylon Johnson, the team announced Tuesday.

The decision came as the sides have failed to reach a long-term contract extension. The franchise tag will pay $19.8 million to Johnson in 2024 should the sides fail to come to an agreement on a new deal. Once a player signs a franchise tender, he and the team have until a mid-July deadline to continue working on a multi-year contract. Johnson and the Bears are expected to continue negotiating a long-term deal.

The non-exclusive franchise tag allows players to sign an offer sheet with another team, but his original organization has the right to match the offer. If the original team doesn't match the offer, it would receive two first-round picks as compensation for the player leaving. Practically speaking, the high draft compensation cost means players rarely switch teams after receiving the non-exclusive franchise tag.

A 3 p.m. CT deadline loomed Tuesday for NFL teams to utilize the franchise tag.

Johnson, who will turn 25 in April, produced a breakthrough season in 2023 as he hauled in a career-best four interceptions over 14 games. He was also graded as the top cornerback in the NFL, according to Pro Football Focus’ metrics.

After extension negotiations stalled during the middle of last season, Johnson requested a trade in October, but he has since retracted that wish and continually expressed his desire to remain in Chicago.

“I just couldn’t see myself anywhere else,” Johnson said in January. "It’s easy to say, oh, you want out of somewhere until you get it and then it’s like, ‘Ah, this may not be quite what I want.’ But I would say for me, I want to stay here and I want to not make that transition now. I feel like we’re building something special too, especially with the guys in the locker room. I mean, it's something I can’t get anywhere else. I would like to stay and continue to build, make it better. And (shoot), I want to win some games and get to the playoffs and make a push with the Chicago name too.”