Ian Rapoport of NFL Media reports that Alex Smith’s four-year, $94 million contract that will finally be official on Wednesday includes $55 million guaranteed at signing and $71 million fully guaranteed by the start of the 2019 season.
Rapoport points out that this is nearly as much as Lions QB Matt Stafford got in his record-setting contract and more than Jimmy Garoppolo received from the 49ers this offseason.
This is a huge investment for the Redskins, who also parted with a 2018 third-round pick and CB Kendall Fuller as part of the trade.
Smith, 33, is a former first-round pick of the 49ers back in 2005. After seven years in San Francisco, Smith was traded to the Chiefs in 2013.
Smith was in the fourth year of his five-year, $76 million contract that includes $45 million guaranteed and set to make a base salary of $10.8 million for the 2018 season at the time of the trade.
In 2017, Smith appeared in 15 games for the Chiefs and threw for 4,042 yards while completing 67.5 percent of his passes to go along with 26 touchdowns and five interceptions. He also rushed for 355 yards and a touchdown. Pro Football Focus has him rated as the No. 7 quarterback out of 40 qualifying players.