Bengals Exec: Ja'Marr Chase Contract Talks 'Haven't Started' amid NFL Free Agency

The Cincinnati Bengals have not held contract extension discussions with Ja'Marr Chase despite the star wide receiver becoming eligible for a new deal, executive vice president Katie Blackburn told reporters Tuesday.

"We haven't started," Blackburn said. "That's sort of the next thing is just to piece together some of those things to consider and give it some thought. And like I said, I can't say for sure where any of it will go. But we certainly are going to study up on it and see what we can figure out to try to get the best result we can for the club one way or another."

Chase is entering his fourth NFL season in 2024 and has a fifth-year option worth $21.8 million for 2025. That said, it's no surprise the Bengals aren't in a rush to extend him.

Blackburn's comment about studying up is also surely an indication that the Bengals, like the rest of the NFL, are waiting to see what Justin Jefferson's impending extension with the Minnesota Vikings will look like.

Regardless, Chase will likely end up being paid like a top-five receiver.

Chase's market value is projected at four years and $104.5 million ($26.1 million annually), per Spotrac. That type of deal would make him the NFL's fourth-highest-paid wide receiver on a per-year basis behind Tyreek Hill, Davante Adams and Cooper Kupp.

However, Jefferson's contract extension will almost surely reset the wide receiver market, which in turn could drive up Chase's price.

The 24-year-old was selected by the Bengals fifth overall in the 2021 draft out of LSU, and he has gone on to earn three Pro Bowl selections and the 2021 Offensive Rookie of the Year award.

Additionally, Chase has eclipsed the 1,000-yard receiving mark in each of his three seasons and figures to put together perhaps the best campaign of his fledgling career with the return of a healthy Joe Burrow in 2024.

Chase is coming off a 2023 season in which he caught 100 passes for 1,216 yards and seven touchdowns in 16 games.

With Burrow already locked up, getting his top receiver extended should be a priority moving forward.