Ja'Marr Chase contract explained: What to know about Bengals star's status

The NFL offseason can be a landmine for competitive teams as star players going into the final year (or years) of their contracts often want the security of a multi-year deal set to go before they start playing. This often protects them from being abandoned if they suffer injuries during the season, and gives them the advantage in negotiations assuming another player of similar talents at the same position already signed a deal.

Although many players have held out this offseason, there is one standout receiver left, waiting for a new contract before suiting up with his team: Cincinnati Bengals' Ja'Marr Chase.

Chase's contract dispute is different than most of those other receivers though. For one, he is "holding in" attending team facitlies, but at this point has not participated in practice. The other interesting part is that other players often want a new contract before the final year of their deals. Chase is asking for a new deal with two years left on his contract (the final year is a club option, which Cincinnati already picked up in April).

Chase is coming off arguably his least productive season, hauling in only 76 yards per game in 2023 (down from 87.2 in 2022 & 85.6 in 2021). While he did set a new career-high in receptions with 100, he only hauled in seven touchdowns, the lowest mark of his career. Still, Chase is undoubtedly one of the top wide receivers in the game, and at only 24 years old, he's got many, many years left before he starts regressing.

So, what should Cincinnati do? Will Chase play in Week 1? And why is Chase asking for a new contract a year before most other players start holding out? Here is everything to know about Ja'Marr Chase's contract situation.

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How much money is Ja'Marr Chase making? Contract details

Chase is set to earn $9.8 million in 2024, the final non-option year of his rookie contract. Withthe Bengals picking up Chase's club option in April, he will earn $21.8 million in 2025.

How much should Chase be earning?

Several high-profile wide receivers have earned new contracts this offseason:

• Justin Jefferson, MIN – 4 years, $140 million

• Jaylen Waddle, MIA – 3 years, $84.75 million

• Nico Collins, HOU – 3 years, $72.75 million

• Amon-Ra St. Brown, DET – 4 years, $120 million

• A.J. Brown, PHI – 3 years, $96 million

• Devonta Smith, PHI – 3 years, $75 million

• Jerry Jeudy, CLE – 3 years, $52.5 million

• Michael Pittman Jr., IND – 3 years, $70 million

• Mike Evans, TB – 2 years, $41 million

• Brandon Aiyuk, SF – 4 years, $120 million

• CeeDee Lamb, DAL – 4 years, $136 million

Ja'Marr Chase is set to earn $30 million total over the next two years. With so many wide receivers getting massive contracts, the market has been reset, and Chase could be the biggest earner of anyone on this list. Although Chase has never earned first-team All-Pro status, he is certainly worth at least $30 million a year.

Ja'Marr Chase hold-in explained:

Chase likely wants the security of a massive payday following the 2024 season. Although he still won't make a ton in 2024 (barring a change of his original rookie contract), he wants to know that he will make more in 2025 than he is currently set to.

That said, this decision likely helped Cincinnati save a lot of money. See, each offseason, new players go into the free agent pool, and some of those players are high-end talents, who reset the standard pay for elite players.

This year, it became normal to give elite receivers $30 million a year via extensions. Guys like Brandon Aiyuk ($30 million), CeeDee Lamb ($34 million), A.J. Brown ($33 million), Amon-Ra St. Brown ($30 million), and Justin Jefferson ($35 million) will all make $30 million or more in 2024. Prior to this offseason, $30 million for a receiver was considered absurd. The market continues to climb year-in, year-out.

With Chase choosing to fight for a new contract now, while it does prevent him from losing out on money should he suffer a serious injury this year, it also prevents him from reaping the benefits of the next offseason contract loop. In fact, with teammate Tee Higgins set to test free agency next year, Chase, who has outperformed Higgins each season, would have had the opportunity to watch Higgins sign and ask for a clear upgrade over his salary before signing an extension. All in all, the decision to fight for a new contract now likely hurts Chase's earning potential.

That said, free agent receivers tend to earn less annual value than players who receive extensions. This year, the biggest free agent WR contract was given to Tennessee's Calvin Ridley at just $23 million annually. It would be within Chase's best interests to avoid free agency if possible. So, earning an extension before the Bengals have an opportunity to forfeit his club option (although that is unlikely), would ensure that Chase does not have to test free agency at all.

Will Chase play Week 1?

Chase's status for Week 1 against New England is still unclear. Reports have noted that Bengals head coach Zac Taylor believes the team is in a "day-to-day situation" with Chase, implying that the new contract could come at any time. However, it also implies that Chase could be absent for quite a while before both parties agree on an extension.

Taylor added that despite Chase missing practice the last several weeks, he likes Chase's potential to step into his role as the team's No. 1 wideout immediately. Taylor says, "It’s impossible for me to say with 100% conviction, but I feel good about the shape that he’s in."

It also helps that Chase recently started practicing with the team again. Despite his current contract negotiations, Chase seems intent on staying in shape during his hold-in.

Are any other players in the middle of contract disputes?

With San Francisco 49ers' left tackle Trent Williams reporting to 49ers' camp following a restructured three-year, $82.66 million deal, the New York Jets' Haason Reddick is the only star player aside from Chase still fighting for a new contract.

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This article has been updated to characterize Chase's status has as hold-in player.

This article originally appeared on USA TODAY: Ja'Marr Chase: Bengals star's contract dispute explained