Mike Florio of Pro Football Talk has some updates on the Alex Smith contract extension talks, and the numbers are not quite as large as originally expected. Here’s the basics of the negotiations Florio says are moving very slowly.
If/when an agreement is reached, look for the deal to have a value in the neighborhood of $14 million to $17 million per year. Which would be a very good contract for a guy who was the first pick in the 2005 draft and who was at times regarded as being a borderline bust.
At the max end of $17 million per season, Smith’s contract would rank as the ninth highest in football, below Jay Cutler and Tony Romo. Smith’s current deal ranks him as the 14th highest paid quarterback based on the average annual value of his current contract, which ends after the 2014 season.
Ultimately what matters here is how the contract is structured and the guaranteed money. There are reasonable ways the Chiefs can give Smith a big contract but be able to let him go in two or three years if they are able to find a young franchise quarterback. If the Chiefs think Smith can be a long-term solution at quarterback then pressure on how the contract is structured is not as great.
What do you think, Addicts? Is Smith worth $17 million per season?