Chiefs Officially Announce Cassel Deal

After word spread earlier today about the signing of Matt Cassel to a long term deal, the Chiefs are now confirming the news.

“We are excited to be able to reach a long-term agreement for Matt Cassel to be a Kansas City Chief for many years to come,” stated Chiefs Chairman Clark Hunt. “His proven leadership on and off the field will be a tremendous asset to the organization.”

General Manager Scott Pioli echoed Hunt’s sentiments. “We are happy to announce that the Chiefs and Matt have entered into a multi-year commitment,” said Pioli. “Since Matt arrived in Kansas City, he has embraced the team and the community. His work ethic, his ability and competitive presence is what we expect from our players.”

While keeping with team policy, the Chiefs did not disclose the terms of the deal.  However, according to a source Cassel’s contract is worth $63 million, with $28 million guaranteed.  He will make $40.5 million in the first three years of the deal.

Although Wednesday is the deadline for franchise players to get long-term deals, Cassel technically doesn’t apply because he was traded and the team that franchised him no longer holds his rights.  Still, the deadline and the start of training camp in two weeks provided both sides with incentive to lock up a long-term relationship.

A six year, $63 million deal that will guarantee $28 million, is in the ballpark of the $36 million guaranteed that Michael Lombardi reported before the draft.  Hey, if the guy was already going to make $15 million for just this one year, locking him in for $28 guaranteed over six is a great move.  And if he plays well enough to earn the full $63 million then the team will be winning and odds are they’ll be working on a brand new contract, so these figures should only be relevant for the first three years while Cassel is on his way to making just north of $40 million.

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