The Kansas City Chiefs have reportedly agreed to a four year, $68 million contract extension with Alex Smith. The contract includes $45 million in guaranteed money, according to the Chiefs beat writer for the Kansas City Star Terez Paylor.
The #Chiefs and Alex Smith have agreed to a four-year, $68M contract extension with $45M in guarantees, a league source tells me.
— Terez A. Paylor (@TerezPaylor) August 31, 2014
Paylor reported that the contract will be worth $17 million per season.
Smith had one year remaining on his current contract. His contract was worth $7.5 million for the 2014 season.
Smith threw for just over 3,300 yards with 23 touchdowns and seven interceptions in his first year with the Chiefs in 2013.
We will update as we hear more about Alex Smith’s contract extension.