The Chicago Bears‘ quarterback situation has been a unique story since the birth of their franchise. They’re still the only team to never have a quarterback surpass 4,000 passing yards in a season. However, there’s a No. 1 pick in the mix.
The current state of the Bears’ quarterback unit is exciting, with No. 1 overall pick Caleb Williams being the star of the group. Williams has been touted by many analysts as one of the best quarterback prospects they’ve ever seen, drawing hype comparisons to Andrew Luck and Trevor Lawrence. Let’s take a look at Williams’ salary and net worth for 2024.
Caleb Williams’ 2024 Deal
Williams signed a four-year, $39,486,058 fully guaranteed rookie contract. His cap hit for 2024 is set at $7,179,283 according to Over the Cap.
Williams’ cap number for this season is 10th-highest on the Bears’ roster. His two main receivers in DJ Moore and Keenan Allen are making $16,050,000 and $23,100,000 against the cap — the second and fourth-highest cap hits on the Bears this year, respectively.
In comparison to former No. 1 overall quarterbacks in the past, Williams doesn’t come close to their deals. Historically speaking, Sam Bradford signed the largest rookie contract in NFL history when he was taken first overall by the Rams in 2010, inking a six-year deal worth $78 million, with $50 million guaranteed.
This was a time before the rookie pay scale was implemented, leading to larger contracts being agreed to with top draft picks in previous years. If there wasn’t such a rule today, Williams could have negotiated a much larger deal than the one Bradford signed 14 years prior.
Taking a closer look at the breakdown of Williams’ salary for this season, $6,384,283 of his cap hit was the signing bonus. His base salary is just $795,000, with no bonuses or incentives in his contract for 2024.
Williams’ entire signing bonus for the duration of his contract came in at over $25 million, which he revealed during “Hard Knocks.”
Bears undrafted QB Tyson Bagent’s reaction to hearing that Chicago’s No. 1 overall pick Caleb Williams received a $25.5 million signing bonus: pic.twitter.com/M4saPiAzU3
— Adam Schefter (@AdamSchefter) August 2, 2024
What Is Williams’ Net Worth?
In 2024, Williams’ net worth is just over $10 million. He already had an estimated net worth of $3.5 million in 2023 before entering the NFL.
This stemmed from his lucrative NIL deal, working with brands such as Beats by Dre, Wendy’s, and Fanatics, among others. With Williams’ fame growing by the day, it’s pretty clear that this number will skyrocket in the near future — especially if he can help the Bears win immediately.
In that case, Williams will be worth much more than $10 million. This number isn’t counting the amount of jersey sales he’ll make, as well as other brands that will reach out along the way.
It’s safe to say this will likely be the low end of Williams’ net worth over the course of his career.