The Chicago Bears had to be taken aback by the first day of NFL free agency negotiations, at least when it comes to one of their big plans for the immediate future at quarterback.

Blessed with the no. 1 overall pick in April’s NFL draft, Chicago is expected to select USC top prospect and Heisman award-winner Caleb Williams and place him in the role of potential franchise QB. That would mean trading away current starter Justin Fields for some much-appreciated additional draft capital.

However, in a span of less than 24 hours, the trade market for Fields had shriveled up entirely. In short, pretty much every team considered to possibly be in the market for Fields addressed their quarterback needs elsewhere.

Chicago Bears Justin Fields Trade Options Disappear

Chicago Bears QB Justin Fields. Credit: Todd Rosenberg/Getty Images

The Atlanta Falcons, a team considered to be the front runners in the possible pursuit of Fields, signed veteran Kirk Cousins to a four-year deal. The Pittsburgh Steelers, Las Vegas Raiders, New England Patriots, and Minnesota Vikings– all considered possible suitors for the three-year veteran former first-round pick– also picked up quarterbacks on day 1 of free agency.

Those teams not picking up a long-term QB solution were picking up bridge quarterbacks in anticipation of drafting a quality QB from a fairly deep draft class this year that includes Caleb Williams, Drake Maye, Jayden Daniels, J.J. McCarthy, Bo Nix, and Michael Penix Jr.

The reality setting in over the course of day 2 of free agency is that the Bears, if they opt to trade Fields, will now be trading him as a backup and insurance policy– with the return on the trade scaled down to what one would expect from a deal involving a backup quarterback.

A New Possible Landing Spot For Fields
With that in mind, the Indianapolis Colts have appeared to emerge as a possible landing spot for the talented, but sometimes inconsistent Fields.

Denver Broncos insider Benjamin Allbright recently tweeted about the possibility of the Colts being in the mix when it comes to Fields.

“Wouldn’t be surprised if Justin Fields winds up as a backup with the Colts or Eagles,” Allbright wrote on Twitter. “Several teams that were being reported were never in play, and the market has been incredibly thin on him as the Bears have shopped him for a few weeks.”

Indianapolis already has a quarterback of the future in Anthony Richardson, but with the loss of veteran backup Gardner Minshew to the Raiders, they’ll definitely be in the market for an insurance policy.

Per Nate Atkins of the Indianapolis Star:

“The Colts were fans of Fields when he came out of Ohio State, back when the Bears traded up to make him the No. 11 pick in the 2021 draft. In three years, he’s displayed some explosive rushing abilities with 2,220 rushing yards and 14 touchdowns on 6.2 yards per carry. His passing has left more to be desired, as he has averaged 7.0 yards per attempt, though it’s come with constant change around him.

Fields’ skill set would be a strong match to Richardson’s, as the Colts could suddenly have one of the most athletic quarterback rooms the NFL has ever seen. It will cost draft picks of some sort, and though the market has softened with no apparent starting opportunities for Fields, Colts general manager Chris Ballard will have to decide whether a backup quarterback is worth key draft capital.”

What Could The Bears Get For Fields?
And what, exactly, would the Colts have to give up to acquire Fields?

The best guess is, maybe, a fourth-round pick.

Ari Meirov of 33rd Team, though, laid out an idea to make a Fields trade for a diminished return more palatable to the Bears.

“Could Chicago maybe get a little bit creative?” Meirov said. “They wanted a second-round pick. Maybe they’ll have to settle for a fourth-round pick, but put some conditions on [that] pick– like it becomes a third if he plays a specific amount of snaps, [or] it becomes a second if [the team] makes the playoffs.”

Whatever the case, Chicago has to make the call on trading Fields fast– before even the market for him as a backup starts to dry up.