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After paying a hefty price, in terms of draft picks and Kyle Orton, to acquire quarterback Jay Cutler this past offseason, the Chicago Bears have now likely ponied up a hefty monetary price as well. Exact terms of the deal have not been disclosed just yet, but the Bears have announced, via press release, they have come to terms on a two-year contract extension with their quarterback. He's now locked up in Chicago through the 2013 season.Considering some of the contracts quarterbacks with similar stat-lines have signed recently, it's not very likely Cutler would agree to a cheap extension. You can argue whether or not he's a "franchise quarterback," but it seems pretty likely he'd be asking for franchise quarterback money. Then again, you never know, because two years is a pretty modest extension in terms of length. Cutler will only be 30 when the contract expires.
Cutler has been pretty solid for the Bears after an abysmal start on Sunday Night Football -- when he threw four interceptions in a loss to Green Bay. In the four games since then, the Bears have won three as Cutler's thrown nine touchdowns -- and run for one -- compared to three interceptions. His completion percentage has been solid and the team has had good success driving the football, even without the presence of a respectable running game.
The Bears face the Bengals in Cincinnati this Sunday.
Update: John Clayton of ESPN.com is reporting the extension will add $30 million to Cutler's deal, meaning he'll likely make around $50 million over the course of the next five seasons.
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