The Cincinnati Bengals came very close to extending wide receiver Ja'Marr Chase's contract. James Rapien of Bengals On SI reports that both sides were working with a deal that averaged out to $35 million per year in new money with $90 million guaranteed.
"The two sides were close to an agreement, league sources say. In fact, the Bengals offered Chase a four-year, $140 million contract with $90 million guaranteed. That guaranteed money included a $30 million signing bonus."
The holdup for an agreement, according to Rapien, was when the guarantees become vested. Chase wanted them locked in earlier than when the Bengals offered.
If the Bengals were to oblige to this detail, then Chase would've agreed to a contract that looks very similar to the deal Minnesota Vikings wideout Justin Jefferson signed earlier this offseason. What Chase said about Jefferson in his lone media session since performing a hold-in now looks a tad more interesting.
Revisiting Ja'Marr Chase's comments on beating Justin Jefferson
Chase has more than earned the right to become the highest-paid receiver in the NFL, but this deal would not make him that. Jefferson signed for $140 million over four years back in the spring. That's the exact value over time the Bengals and Chase were in agreement over.
When asked about rumors regarding his desire to eclipse Jefferson's deal by one penny, Chase gave everyone a dynamite quote .
"If I want to beat Justin, I’m going to beat the sh*t out of Justin,” Chase said. "Not by a penny, brother."
If Chase were good with the parameters of this deal, then his ultimate goal wasn't to beat Jefferson at all. Perhaps it was the best number he believed he could get from the Bengals.
The real kicker here is guaranteed money. Total guarantees aren't the same as fully guaranteed. For example. Jefferson has $110 million in total guarantees in his deal, but $88,743,000 is fully guaranteed.
If the Bengals offered $90 million in guarantees, was that the total number or the fully guaranteed number? If it was the former, Chase's deal wouldn't have been as strong as Jefferson's. It would've been stronger if it were the latter.
Chase would've tied Jefferson for being the highest-paid receiver (and non-quarterback) in league history, but the three-time Pro Bowler said from the start that his priority was guaranteed money. The 2023 season hadn't even finished and he told reporters that "up-front" money was most important to him in a contract.
Those remarks do back up Rapien's report. Chase wanted to ensure his guarantees kicked in early in the deal. The Bengals wanted to wait a little longer.
That decision could be the difference of millions if the price goes up for Chase next year.
Related: Zac Taylor teases plan for Ja’Marr Chase that will help Bengals get back on track against Chiefs
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