It didn’t take long for Chicago Bears management to see that they wanted Jay Cutler to be their quarterback for the long term.

The team signed Cutler to a two-year contract extension late Tuesday that will give the Bears rights to Cutler for four years after this season. The rookie contract he signed with the Broncos went through 2011.
The deal calls for Cutler to be paid $20 million in guaranteed money and $30 million in new money for 2012 and 2013, according to ESPN’s John Clayton.
Cutler has maintained that money was not a factor in his desire to be traded from the Broncos. The Bears acquired him and a fifth-round pick in trade last April for Kyle Orton, two first-round picks and a third.
As recently as during training camp, team President Ted Phillips and general manager Jerry Angelo indicated there was no urgency to extend Cutler’s contract. The thinking had been the franchise wanted to see how Cutler played and fit in with his new team before making a major investment.
But like many Bears fans, team management quickly became enamored with Cutler’s big arm and enormous potential.
Cutler has gotten off to a pretty good start. His 86.9 passer rating is 16th in the NFL, but it doesn’t reflect his value to the Bears’ offense and team overall. His passing yards per game of 240.2 is highest in franchise history, as is his 64 percent completion rate.
One knock on Cutler is he hasn’t been a winner. But that might be changing. His record with the Bears is 3-2 after going 17-20 with the Broncos.
Signing Cutler to the extension now has benefits for the team. It allows the Bears to apply a portion of the deal to this year’s cap, and the Bears had cap space to burn. It also allows them to get Cutler committed before the price of a franchise quarterback goes even higher.
In the offseason, three quarterbacks signed bar-setting six-year deals. First came Matt Cassel of the Chiefs with about a $10 million average per year. Then came Eli Manning with a $15.27 million average from the Giants. Finally came Philip Rivers’ deal with the Chargers that gives him a $15.3 million annual average.
Cutler’s extension calls for him to receive an average of $15 million for 2012 and 2013. But the deal has other benefits for him too.
Cutler’s original contract is scheduled to pay him $20 million more — but none of that money is guaranteed. He is scheduled to receive a $12 million roster bonus in 2011 — but there is a chance that labor issues could stop the 2011 season.
Now, he is scheduled to be paid $50 million over the next five years, with $20 million guaranteed.
Plus, he will only be 30 years old when his new deal expires, still plenty young for another big bite of the apple.
The money the Bears are spending on Cutler could impact their free agent budget in the offseason — which is significant given that the team already is without a first- and second-round pick. The Bears will be more dependent on free agency than usual to fill holes.
But if Cutler plays like he can, the Bears might come out of the season believing they have fewer holes than they otherwise might.
“He definitely has worked hard, so this is great for him,” said receiver Earl Bennett, who played with Cutler at Vanderbilt. “I’m excited that I’ll get an opportunity to continue playing with him.
“I know what type of player Jay is. He’ll win by any means necessary. He’s a guy who’s going to get the job done.”