The Chicago Bears are keeping Cole Kmet around for the long haul. The fourth-year tight end agreed to a four-year, $50 million extension on Wednesday that will keep him under contract in Chicago through the 2027 campaign, as ESPN first reported. The current Bears regime didn’t draft Kmet, but general manager Ryan Poles still decided to give the former second-round pick the first extension of his executive career.
Chicago Bears Extend TE Cole Kmet
Kmet has shown growth over three NFL seasons, but his extension comes in above expectations. Kmet’s $12.5 million average annual value is tied for ninth among tight ends, while his $32.8 million in total guarantees is fourth among veteran TE contracts, trailing only George Kittle, Mark Andrews, and Dallas Goedert.
Kmet will also reportedly receive $20 million in first-year cash. That figure ranks third among veteran tight ends, behind just Andrew and Kittle.
Although Kmet is coming off a career-high seven touchdowns, his receiving numbers haven’t been all that impressive — at least, at face value. From 2021-2022, Kmet averaged just 34 receiving yards per game. Among the 42 tight ends with at least 30 targets last season, Kmet ranked only 26th in yards per route run.
However, Kmet’s statistics can be somewhat deceiving because the Bears pass the ball at a lower rate than any team in the NFL. In 2022, Chicago comfortably ranked dead last in both pass rate and pass rate over expectation.
The Bears hope Justin Fields and the rest of their aerial attack will take a leap forward as they enter their second year under offensive coordinator Luke Getsy. Kmet will need to progress in order to live up to his new contract, but Poles singled out his tight end in January as a player on the rise.
“Yeah, I mean, the one that stands out to me this year, I was just proud of and that spent time with him, talking about it, but I thought Cole did a really good job,” Poles said. “I thought he elevated his game from the film that I watched last year to what it was this year, so that’s exciting.”
Who’s Next in Line for a Tight End Extension?
While Kmet’s annual value came in below the $13.75 million Evan Engram received from the Jacksonville Jaguars earlier this year, the Bears’ TE will earn far more in total guarantees and first-year cash than Engram. Jacksonville is surely pleased it got an extension done for Engram — whom they initially franchise-tagged — before Kmet’s deal came in.
Meanwhile, T.J. Hockenson has to be happy with Kmet’s new contract, as the Minnesota Vikings tight end is the next man up for an extension at the position. Hockenson is entering the final year of his contract, which will pay him $9.3 million in 2023.
Hockenson managed a career-high 914 yards between the Lions and Vikings last season and has posted at least 45 receiving yards per game in each of the previous three years. He was Minnesota’s de facto No. 2 pass catcher in 2022 and could hold that role again next season, even though the Vikings added first-round receiver Jordan Addison.
Unlike Kmet, Hockenson also comes with first-round draft billing. Even though Hockenson was drafted four years ago, draft status often sticks with a player throughout his career and factors into contract negotiations. And Hockenson wasn’t just a mid-first-rounder — he was the No. 8 overall pick of the 2019 draft.
Darren Waller reset the tight end market with a $17 million AAV in 2022, and it’s unclear if Hockenson will be able to match or exceed that figure. But he should at least target Kittle’s $15 million salary while pushing for close to $40 million in total guarantees.
