NFL Trade Rumors: Bears Won't Get 'King's Ransom' for No. 1 Draft Pick; Colts Linked

The Chicago Bears might look to trade out of the No. 1 spot in the 2023 NFL draft, but the return might not be as big as some would hope.

"The overwhelming feedback was that the Bears won't get a king's ransom for the No. 1 pick but that Indianapolis had the best situation in terms of draft capital and trading the pick out of the NFC," ESPN's Matt Miller reported after discussing the situation with front-office personnel.

Chicago has the first overall pick after finishing 3-14 last season, but a trade could allow the team to add more assets to build around quarterback Justin Fields.

Miller's projected trade would have the Indianapolis Colts swapping the No. 4 overall pick along with second- and fourth-round picks and a 2024 third-round pick for the Bears' No. 1 overall pick.

The return is seemingly small considering what other teams have given up in recent draft trades.

The San Francisco 49ers gave up two future first-round picks and a third-round pick to move up from No. 12 to No. 3 to eventually select Trey Lance, while the Miami Dolphins flipped one of those first-rounders to the Philadelphia Eagles move from No. 12 to No. 6.

The Los Angeles Rams also had to give up a future first-rounder and multiple second-round picks in 2016 to get the No. 1 pick (Jared Goff), which was the last time the top overall selection was traded.

However, Miller's projected deal would only cost the Colts some Day 2 and 3 picks to climb from No. 4 to No. 1.

Indianapolis will certainly be a team to watch in the coming weeks, especially with owner Jim Irsay seemingly tipping his hand about his draft target:

ESPN's Todd McShay also projected a Colts trade to No. 1 to select Bryce Young in his latest mock draft.

One problem for the Bears is that there is no clear top quarterback in the 2023 class. McShay has Young as the best player at the position, while ESPN's Mel Kiper Jr. lists Will Levis No. 1. Bleacher Report's Scouting Department has C.J. Stroud as the top quarterback.

Quarterback-needy teams like the Houston Texans (No. 2 overall pick) or Colts could be comfortable waiting on one of these players to fall to them rather than paying too much to move up a few spots.

The return could be greater if the Bears move further down in the first round, with the Carolina Panthers (No. 9) and Washington Commanders (No. 16) among potential options, but that would hurt Chicago's chances of landing a difference-maker in 2023.