Ja'Marr Chase contract: Latest update on Bengals star takes dramatic turn

The Cincinnati Bengals and star wide receiver Ja'Marr Chase reportedly won't come to an agreement on a new contract extension before the end of the season.

After failing to get an extension done before kickoff in Week 1, it seems both sides are deciding to put the contract talks aside until the 2024 season ends.

That's not a major surprise considering Chase's self-imposed deadline right before the season, but the latest updates have taken a dramatic turn.

Ja'Marr Chase contract update

The superstar wide receiver will play the season currently on his rookie deal, but he also got some insurance in case of injury. Literally.

According to Adam Schefter of ESPN , Chase "has taken out a $50 million insurance policy on himself for this season to safeguard against injury and any potential lost earnings."

That's not all, though. According to Schefter, Chase and his team feel misled by the Bengals from the offseason talks about a new contract. Both sides believed this offseason was the time to get a new deal done.

Chase reportedly arrived at camp on time rather than holding out the first two days — his initial plan — because of "a miscommunication and a misunderstanding" that the contract talks were in a better spot than they actually were.

Schefter reported Chase's new deal was expected to make him the highest-paid wide receiver and non-quarterback in the NFL, beating Justin Jefferson's average annual value of $35 million.

However, the structure and the payout of the money in the deal "was not to Chase's liking," according to Schefter.

The Bengals also avoided more drama as Chase's representatives threatened that the star receiver would sit the first two games of the season until Chase himself stepped in to say he would play with or without a new deal.

This saga will continue to loom over the Bengals as they look to get their season on track and unless one side has a surprising change of heart, these discussions will be tabled until the offseason.

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