The Chicago Bears declined the record contract demand of No. 1 overall pick Caleb Williams.

The Chicago Bears have settled the rookie contract for No. 1 NFL Draft pick Caleb Williams, after lengthy discussions that reached the opening day of training camp this week.

ProFootballTalk claims that many sources claimed the final hurdle before Wednesday’s official contract announcement was Williams’ extraordinary request for Chicago to forgo its right to a franchise tag. Williams’ request was denied, and the Bears signed him to a four-year rookie deal to start training camp.

After gaining the 2024 NFL Draft pick from the Carolina Panthers in a trade, Chicago celebrated as Carolina had a poor start to the season, finishing with the worst record in the NFL by December 31.

The Bears needed a franchise quarterback, and Williams was the consensus top quarterback in his class, giving him leverage to make numerous unusual pay requests.

During his final season at USC, where he threw for 3,633 yards and 33 touchdowns but failed to win the Heisman, Williams reportedly desired a minority ownership stake from his NFL Draft destination.

The ex-five-star prospect skipped the NFL Combine’s medical exams and did them during team visits, even pausing his NFL Draft preparations for a trip to Tokyo seven days before the event.

Williams and the Bears signed a four-year, $39.49million contract with a $25.5million signing bonus after open communication.

The quarterback declined the franchise tag, which extends a player’s contract into free agency by one year at a specified price, despite not having an agent.

Veteran quarterbacks like Dallas Cowboys’ Dak Prescott have negotiated “no-tag” provisions, allowing free agents to shop.

Williams has indicated his desire to follow Tom Brady’s example and stay loyal to one team for a long time, so this early look at free agency may unnerve Bears fans.

In April, on the Pivot Podcast, Williams shared: “I want to play at one place for 20 years, and chase one guy, No. 12,” referring to Brady’s famed jersey number. He further added, “I want a place that loves ball. That’s all I’ve heard about Chicago so far.”

The July 16 deadline for rookies to report for training camp also saw fellow rookie Rome Odunze ink his rookie contract. Veterans will report to Halas Hall on Friday, the early start date occasioned by the Bears’ role in the Hall of Fame game on August 1.