Bears Sign Jay Cutler to Two-Year Extension.

Byline: Carter Bryant

Chicago Bears quarterback Jay Cutler signed a two-year contract extension (http://www.nfl.com/news/story?id=09000d5d813979bb&template=with-video-with-comments&confirm=true) through the 2013 season this past Tuesday. The new deal includes nearly $30 million in new money and about $20 million guaranteed.

The extension couldn't have come at a better time for both Cutler and the Bears. At the end of 2013, Cutler would only be 30-years-old. If Cutler continues to play at a high-level, he would have a good chance at getting another long-term contract with the Bears.

The Bears negotiated the deal exceptionally well. By giving Cutler an extension now, the Bears can fill some space in their salary cap this season, giving them more room in the future to get weapons to put around Cutler. On top of that, the Bears might have had to pay an even high price down the road for Cutler. This is due to the increasing rates to pay for franchise quarterbacks.

This past summer, fellow quarterbacks and first-round picks Eli Manning and Phillip Rivers both received blockbuster deals, allowing them to receive annual amounts of $16.25 million (http://bizoffootball.com/index.php?option=com_content&view=article&id=483:eli-mannings-extension-with-giants-makes-him-one-of-nfls-highest-paid-players-annually&catid=33:trades-a-signings&Itemid=54) and $15.33 million (http://bizoffootball.com/index.php?option=com_content&view=article&id=504:phillip-rivers&catid=33:trades-a-signings&Itemid=54) respectfully.

Knowing that the price has gone up every year for a franchise quarterback, the Bears paid him while the price was still relatively low, giving him $15.33 million annually.

As a rookie, the Denver Broncos, Cutler's old team, signed him to a six-year, $48 million contract.

The former Vanderbilt standout was traded from the Broncos after Josh McDaniels took over the head coaching duties from two-time Super Bowl winning coach Mike Shanahan. After a long and heated offseason debate between McDaniels and Cutler, Denver and Chicago agreed to trade quarterbacks, with Cutler going to the Bears and Kyle Orton to the Broncos.

In the Bears three wins this season, Cutler has played at a pro-bowl level passing for 624 yards, seven touchdowns and one interception. He is on pace to shatter franchise records at the quarterback positon.

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Carter Bryant is a staff member of the Business of Sports Network. (http://twitter.com/mcoll1)

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