The Chiefs and quarterback Alex Smith have reached agreement on a contract extension that is scheduled to pay Smith an average of $15.1 million over the next five years, a deal that’s structured differently from the extensions signed by Andy Dalton and Colin Kaepernick earlier this year.
Those deals essentially become year-to-year propositions with less guaranteed money than the $30 million Smith gets for signing a deal. There’s another $15 million guaranteed for injury only coming his way in 2015, which puts Smith in the top 10 in guarantees while his average salary falls into the middle of the pack for current quarterbacks. Smith thinks that structure is one that works well for him and the Chiefs.
“It was about something fair both ways,” Smith said, via the team’s website. “As a quarterback, you certainly don’t want to hamstring your team in any way because — I know this more than anyone — you rely so heavily on those playmakers around you. You certainly don’t want to do anything like that, but at the same time, you do want something that’s fair.”
Chiefs coach Andy Reid and General Manager John Dorsey both raved about Smith’s decision making and leadership, which fits with the usual review of Smith’s intangibles being more impressive than his athletic abilities. His contract shows the Chiefs put a high value on those traits and they’ll need to use any money that might have been left on the table to make sure they are put to the best possible use by surrounding Smith with talented players.