Jason La Confora laid out some of the details contained in Chiefs QB Alex Smith‘s new four-year contract extension worth 68 million and includes $45 million guaranteed.
- La Confora reports that Smith will earn base salaries of $1 million, $11.9 million, $14.1 million, $10.2 million and $14.5 million for the 2014-2018 seasons.
- He notes that the deal includes an $18 million signing bonus.
- La Confora adds Smith’s deal also includes roster bonuses of $2 million for the 2017-18 seasons.
- The entire $19 million owed in 2014 is fully guaranteed, and if Smith is on the roster on the third league day in 2015 the $26 million to be paid in 2015-16 becomes fully guaranteed.
- As of now, the $26 million is only guaranteed for injury.
- Smith can make $45 million over the first three years of the agreement, according to La Canfora.
Additionally, Jason Fitzgerald of OverTheCap.com points out that this extension will likely save the Chiefs $3.4 million in cap space for the 2014 season.
The deal appears to follow in line with some of the recent quarterback extensions, in that Smith must remain on the roster to even recoup a portion of the “guarantees” included in the contract. The figures are friendly for Smith, who appears to have fared better than some expected.
Smith, 30, led the Chiefs to the playoffs last season in his first year with the team. He set career highs in passing yards (3,313), rushing yards (431), and touchdowns (23) while only throwing seven interceptions.