Chiefs Will Try To Extend Alex Smith’s Contract

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With the Kansas City Chiefs playoff loss to the Indianapolis Colts still fresh in everyone’s mind, the team immediately has to try and focus on 2014. They started earlier this week by inking 12 players to reserve/future contracts and will really kick into gear with free agency.

Though they have a long list of players ready to hit the market — headlined by starting left tackle Branden Albert — the Chiefs biggest target for a new contract may be one that still has a year left on his current deal, quarterback Alex Smith.

There was plenty of speculation about how the team would address Smith’s contract situation and according to NFP’s Jason Cole, the Chiefs will try to extend the quarterback’s deal. Kansas City owes Smith just $7.5 million in 2014, a number that is well below his market value after a fantastic 11-5 season.

Trying to work out a deal and getting one done are two very different things, so it’s not a lock the two sides can agree on Smith’s value. Especially when you consider the huge deals handed out recently, the negotiations could quickly turn south.

If that happens, the Chiefs could then let him play out the final year of his contract and re-visit the issue this time next year. And even if the two sides can’t come to terms in a year, Kansas City could slap the franchise tag on Smith, locking him in to a hefty one-year deal (last year’s QB tag was $14.896 million) instead of a long term contract.

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