This is where the Chicago Bears’ salary cap stands after re-signing Jaylon Johnson.u

The Bears locked up their franchise corner on Thursday, signing Jaylon Johnson to a four-year deal worth $76 million, with $54 million of that contract guaranteed.

The Bears have now locked up three significant parts of their defense, signing Montez Sweat at the trade deadline to a deal for $98 million, Tremaine Edmunds to a deal costing $72 million last summer, and now Johnson. Along with DJ Moore’s $60 million contract, the Bears are spending a lot of money.

Where does the Bears salary cap stand today following Johnson’s signing? First, let’s quickly look at how Johnson’s four-year agreement is structured, according to data from Spotrac.

ohnson’s contract is frontloaded in yearly pay but backloaded in cap hits, allowing the Bears financial freedom this summer to chase blue-chip stars on the free market. As it stands, the Bears have the fifth-most cap room in the NFL, holding $57.5 million in cap space, according to Spotrac.

General manager Ryan Poles did some gymnastics with Johnson’s contract. He converted $20 million of the contract into signing bonuses, all of which are paid out over $5 million annually. Johnson will earn a base salary of slightly under $8 million in his first year. His first-year dead-cap value is roughly $43 million.

This contract is a win-win for the Bears and Johnson. For the Bears, they lock up their homegrown, All-Pro corner while giving themselves freedom to keep spending in free agency. For Johnson, he gets the long-term deal he’s been hoping for while earning top-notch guaranteed money at his position.

The Bears’ actions to remove Eddie Jackson and Cody Whitehair earlier this summer turned out to be huge cap-saving moves for this offseason. By dismissing both the longstanding veterans, the Bears liberated approximately $21.7 million in salary space.

Johnson was one of the most crucial boxes the front office had to check this summer. They were adamant about his comeback from the start. Earlier this week, the Bears placed the franchise tag on him. And 48 hours later, they found common ground on an agreement, releasing $6.8 million in cap space off the tag.

Now, the Bears are faced with figuring out the quarterback position. Are they ready to move on from Justin Fields and allow themselves even more cap space by picking a rookie quarterback? Or, are they willing to pay Fields, who is eligible for his fifth-year option?

However that situation unfolds, the Bears will have chances for substantial upgrades in free agency. They may take a swipe at one of Christian Wilkins or Danielle Hunter. What about Saquon Barkley or Josh Jacobs? Seeing how the Bears divide up their targets in free agency against the draft will be interesting.