The rich keep getting richer.
By trading their backup quarterback (if/when the deal becomes official), the NFC Champion San Francisco 49ers will pick up a second-round pick this year, a third-round pick that can become a second-round pick next year, and plenty of cap relief.
How much? Based on his contract, it’s not just the $8.5 million Smith is due to make this year. Smith’s contract includes $1.25 million in “likely to be earned incentives,” which count against the cap in the current year. (If not earned, there’s a credit the next year.)
The total cap savings for the 49ers will be $9.75 million, since there is no bonus acceleration that will hit the cap when Smith is traded.
The Chiefs will carry the $9.75 million on their cap, but unlike many teams the Chiefs have more than enough salary-cap space.