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Caleb Williams is fully expected to be the number-one overall pick by the Chicago Bears in the 2024 NFL draft. While anything can happen on draft day, all reports indicate that the Bears are locked into the highly-rated prospect. They even traded away Justin Fields during the offseason, further supporting that they are planning to take who they believe is the top quarterback on the board.
In addition to the honor and expectations that come along with being selected first, there is also the luxury of receiving the highest contract of any rookie in the annual draft class. As of the 2011 NFL season, when a new collective bargaining agreement was officially agreed upon, initial contracts are predetermined per the official rookie wage scale.
For the upcoming 2024 NFL draft, the first overall pick is scheduled to receive a $38.5 million contract for the next four seasons. This is potentially what Caleb Williams will receive on his rookie deal with the Bears, as long as that's what they do with their pick.
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While this is the highest amount ever given from the Rookie Wage Scale, it's much less than he could have received before the new CBA.
How much could Caleb Williams' contract be without the Rookie Wage Scale?
In a detailed thread posted by Tyler Webb on X, it was outlined just how much money Caleb Williams could potentially be losing as a result of the Rookie Wage Scale from the 2011 Collective Bargaining Agreement.
Webb pointed out that the last first-overall pick who was allowed to negotiate his own contract was Sam Bradford, who received $78 million from the Los Angeles Rams, including $50 million in guaranteed money.
In the following draft, which was the first with the new contract rules, Cam Newton signed with the Carolina Panthers for just $22 million.
Webb went on to explain that before the transition and leading up to Bradford, number-one overall picks were averaging around a 10% richer contract than the player who was selected first in the previous year's draft. Being that this occurred 13 years ago if this continued with the same trend, Caleb Williams would likely be due for a massive contract this year.
Using this model, Webb explained that Williams would probably be looking at a six-year contract worth around $296 million if he is the number-one pick in the 2024 NFL draft. This represents more than an additional $250 million that the Rookie Wage Scale will pay the first pick this year.
