The Chicago Bears are acquiring wide receiver Keenan Allen from the Los Angeles Chargers in exchange for a fourth-round pick in the 2024 NFL Draft, according to CBS Sports lead NFL insider Jonathan Jones

Allen missed four games in 2023 while dealing with a heel injury but still managed 108 receptions for 1,243 yards and 7 touchdowns. The former third-round pick out of California is known as a route technician and a sure-handed professional. The six-time Pro Bowl pass catcher has averaged 97.6 receptions per year over the past seven seasons despite missing 14 games over that period. 

Keenan Allen
CHI • WR • #13
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Allen will turn 32 years old the day that Chicago will presumably draft its franchise quarterback: USC's Caleb Williams. He carries a $23.1 million salary cap hit for the 2024 regular season. 

Los Angeles has been working to become salary cap compliant this week by re-structuring contracts of pass rushers Khalil Mack and Joey Bosa, as well as releasing wide receiver Mike Williams and now trading Allen. Tight end Gerald Everett and running back Austin Ekeler also signed elsewhere in free agency. 

The team's lead returning receiver is now Josh Palmer, who managed 38 receptions for 581 yards and 2 touchdowns last season. First-round selection Quentin Johnston contributed 38 receptions for 431 yards and 2 touchdowns a year ago. 

Chicago, comparatively, has been a buyer over the past six months; first using draft capital to acquire edge rusher Montez Sweat from Washington. 

Here are our instant grades for the deal:

Chargers: B-

Los Angeles seems to be having an identity crisis. The Chargers adjusted contracts with pass rushers Khalil Mack and Joey Bosa, which allowed them to get under the salary cap, but then released Mike Williams and traded Allen. Combined with the departures of tight end Gerald Everett and running back Austin Ekeler, it does not exactly scream "competing." It is hard to stomach the idea of stripping all viable outlets from Justin Herbert as the new braintrusts' first order of business.

Bears: A- 

Allen is not going to be a part of the long-term plans, but so often teams do not enough to support their rookie quarterback. It can not be said that Chicago is not making that effort under the assumption that it is taking Caleb Williams No. 1 overall. The Bears unite D.J. Moore with Allen, but the acquisition does not preclude them from taking a pass-catcher in the top-10 overall.