Bears QB Caleb Williams signs richest NFL rookie contract in past 13 years

Tuesday was the first day of training camp for the Chicago Bears' rookies – two of them becoming very rich men just in the nick of time.

Quarterback Caleb Williams and wide receiver Rome Odunze became among the league's final first-round draft picks of 2024 to reach terms on their initial NFL contracts. This year's No. 1 overall pick out of USC, Williams agreed a four-year pact worth a fully guaranteed $39.5 million ($25.5 million of it earmarked as a signing bonus) by slotting at the the top of the board. He officially signed it Wednesday, landing the most lucrative rookie compensatory package since the salary structure was revamped under the collective bargaining agreement that went into effect in 2011.

Widely projected as a generational prospect, Williams joins a roster much stronger than most top selections enjoy and could immediately restore Chicago to contending status.

Odunze, a University of Washington product chosen ninth overall, is expected to be one of Williams' top targets well into the future – though he may have to take a backseat to the likes of veteran wideouts DJ Moore and Keenan Allen and established tight end Cole Kmet in 2024. Odunze is guaranteed $22.7 million over the next four seasons.

As first-rounders, Williams and Odunze could be retained on balloon payment fifth-year options in 2028 assuming they've fulfilled their sizable expectations to that point but haven't yet signed extensions (both will be eligible for one in 2027).

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Coming off a 7-10 season, Chicago is looking for its first playoff campaign since 2020 and first postseason win since the 2010 season but will have to successfully navigate a highly competitive NFC North to meet those objectives.

Bears veterans are set to report to camp Friday. Chicago is among the league's first teams to show up for work this summer since it will kick off the preseason Aug. 1 against the Houston Texans in the Pro Football Hall of Fame Game in Canton, Ohio.

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This article originally appeared on USA TODAY: Caleb Williams signs Bears contract, becomes richest rookie since 2011