'It's obviously life-changing stuff': Bears sign Kmet to 4-year, $50 million contract extension

For three days, Cole Kmet's phone kept ringing. His agent was deep in conversations with general manager Ryan Poles and the Bears on a contract extension.

It was, Kmet had to admit, a stressful time.

"When I'm out on the field I can control what's going on," Kmet said. "When you're in these negotiation talks, everything is done at that point. There wasn't play going on. There was nothing I could go out and do."

Twenty minutes prior to the first practice of training camp Wednesday at Halas Hall in Lake Forest, Kmet received the call he had been waiting for. He and the Bears had agreed to a monster new contract that ties him to the team through 2027.

For the 24-year-old homegrown talent from Lake Barrington, it was a dream come true. The Bears and Kmet agreed to terms on a four-year contract extension worth up to $50 million, with $32.8 million in guaranteed money. The deal was first reported by ESPN's Adam Schefter.

The contract puts Kmet among the top 10 highest-paid tight ends in the NFL. His $12.5 million per-year average ties him with New England's Hunter Henry as the ninth-highest-paid tight end.

"This whole thing, from the beginning, has been a dream come true," Kmet said. "Just being drafted here first and being able to get an extension done and agree to terms on that is amazing. Looking forward to it, and looking forward to the things that come with it, and many playoff appearances and Super Bowls to come."

The Bears selected Kmet, who starred at St. Viator before playing at Notre Dame, with a second-round draft pick (43rd overall) during the 2020 draft. This summer, Kmet was entering the fourth and final year of his rookie contract.

Players on expiring contracts almost always want to complete an extension prior to the start of the season due to the injury risks involved. By signing his extension now, the team locks him up prior to the season and Kmet gets paid before stepping foot on the field.

"There's no preferred timeline," Poles said Tuesday when asked about possible extensions. "It's when it happens. If I was in that position, I would want it done sooner rather than later, so soon."

Receiver Darnell Mooney and cornerback Jaylon Johnson, who were drafted in 2020 alongside Kmet, are also entering the final year of their rookie contracts and could be having similar conversations with the Bears.

Kmet has emerged as the team's top tight end over the past several seasons. Last season, he caught 50 passes for 544 yards and seven touchdowns. He was on the field for 93% of the Bears' offensive plays last season. In three NFL seasons, he has caught 138 passes for 1,399 yards and nine touchdowns.

He will, no doubt, continue to be a focal point for this offense and for quarterback Justin Fields.

"He's a pro," Bears head coach Matt Eberflus said Wednesday. "He's a guy that can be trusted. He's a fantastic teammate with him just leading by example. We talk about modeling the behavior you want to see, talk about his practice habits, how he is in meetings, how he works with other players, how he works with the coaches, how he leads in times of adversity. He does all those things and I think that's what makes him a good leader."

The deal marks the first major extension since Poles became GM. Poles and his staff have not previously extended any players that the Bears drafted. It says a lot, too, that Kmet was drafted by a different GM and head coach, but still made himself an indispensable part of the team under the new front office.

"It's unbelievable," Kmet said. "It's obviously life-changing stuff, and it's pretty wild to think about. At the end of the day, it's crazy. I don't even know how else to say it. Honored to be here. Honored that they felt I was a guy worthy of this."