Kansas City Chiefs extensions, possible free agency, and draft approaches

Chiefs fans gather in the Power & Light District after the Super Bowl win in 2020. A Kansas City lawmaker wants the Chiefs to make a statement about celebratory gunfire after major wins. // Photo by Zach Bauman/Beacon

With the Chiefs having just won their second Super Bowl in a row, now is not the time that they can afford to lose anyone on the team. However, a whopping 26 Chiefs will be free agents in the upcoming free agency, beginning on March 13 at 3:00 p.m.

Those Chiefs are:

Chris Jones, Mecole Hardman, Mike Edwards, Drue Tranquill, Donovan Smith, Clyde Edwards-Helaire, Tommy Townsend, Nick Allegretti, Tershawn Wharton, James Winchester, Willie Gay Jr., Blaine Gabbert, Jerick McKinnon, Derrick Nnadi, Richie James, Blake Bell, Deon Bush, L’Jarius Sneed, Michael Danna, Prince Tega Wanogho, Jody Fortson, Malik Herring, Jack Cochrane, Nazeeh Johnson, and Mike Caliendo.

This year, the Chiefs have been allotted $23 million in cap space, which is below the league average. However, in late February the Chiefs made the decision to release wide receiver Marquez Valdes-Scantling, which freed up an additional $12 million in cap space for the team.

On top of that, a non-exclusive franchise tag has recently been placed on cornerback L’Jarius Sneed, meaning that the Chiefs must offer Sneed a one-year contract, with a salary cap of no less than the top-five cap hits of cornerbacks, or 120% higher than his previous year’s salary, whichever is higher. 

The thought process behind this move by GM Brett Veach and the Chiefs is to come to terms on a long-term deal, keeping Sneed in the city, or use this as leverage for a trade with Sneed’s value having incredibly ascended this past season.

Typically, any winning team’s tactic is to resign as many players as possible. This year, that might not be possible, after Chris Jones and the Chiefs came to an agreement on a five-year, 159-million-dollar deal, basically cementing his retirement in red and gold. 

The deal comes with about $95 million guaranteed for the first three years, allowing Veach and the Chiefs to decide on future decisions when the time comes. However, any universe where Jones does not fulfill all five years and retire as in the Kingdom is one that most Chiefs fans do not want to live in. 

After his one-year contract with the Chiefs expired, having donned the red and gold for just one season, Drue Tranquill was quick to sign a three-year, 19 million dollar contract, with $12.5 million guaranteed. Throughout the Super Bowl parade, Tranquill was seen many times telling reporters, “This is way better than LA. I can tell you that much baby.”

As the fourth leading tackler on the team last season, this is a great deal to keep around a key piece of our defense, as one of the most favored Chiefs’ linebackers possibly hitting the road. 

Fellow unrestricted free agent Willie Gay Jr. previously signed a four-year, $5.3 million contract with a $1.4 million signing bonus, and $1.9 million guaranteed when he was drafted in 2020. Now, he may be taking a hike, as he has publicly stated that he most likely has played his last game in Arrowhead as a Chief, after the wildcard matchup against the Miami Dolphins. 

https://twitter.com/WillieGayJr/status/1747027604085801369

If lost, Patrick Queen of the Ravens could make a great target replacements for Gay. Queen has had similar years of experience within the NFL and has previously signed contracts with salaries similar to that of Gay. However, the Chiefs could look to the 2024 NFL Draft to sort out their inside linebacker issue, if Gay is not resigned.

Gay has been an instrumental part of the dynasty run that the Chiefs are building, and has been just as equally embraced by the Kingdom, making this decision for Veach incredibly tough. 

Left tackle Donovan Smith previously signed a one-year, $3 million contract with $1.9 million guaranteed. Replacing Orlando Brown, Smith only allowed two sacks all season, helping propel the team to second in fewest sacks recorded in the 2023 season. While there is a lot of skepticism around the two tackles—Smith and Jawaan Taylor—something seems to be working, considering they defended the team’s golden boy up until he was hoisting the Lombardi Trophy.

Cornelius Lucas of the Commanders is the only fellow left tackle free agent who won’t cost the Chiefs about 4x as much as Smith. With such a team-friendly contract, signing Smith to a two-year, low-budget deal is probably in the Chief’s best interest in this free agency.

Last but not least, running back Clyde Edwards-Helaire formerly signed a four-year, $10.8 million contract straight out of college. This came with a $5.4 million sign-on bonus, nearly $10 million guaranteed, and an average annual salary of $2.7 million.

With the starting running back position easily secured by Isiah Pacheco, Edwards-Helaire most likely has seen his last days as a Chief. Not only has Pacheco’s fantastic start to his NFL career affected Edwards-Helaire’s usage and future signings, but the speculation around the running back position has altered how every team values the half-back position.

With well-established backs, such as Alexander Mattison, Cordarrelle Patterson, Cam Akers, as well as plenty more hitting the market this free agency, it would not be surprising to see Veach go after a pass-catching back that can fill the role that McKinnon and Edwards-Helaire have grown accustomed to, alongside Pacheco.

Out of the available running backs, Mattison arguably makes the most sense, considering he will not cost near as much as premier half-backs, and has proven that he can work in a two-man system with Pacheco, as he once did in Minnesota with Dalvin Cook. But to say any of these deals will be accomplished is certainly a stretch, considering all other 31 teams will do whatever possible to keep another top-notch offensive weapon from joining the Chiefs. Be on the lookout for Veach to target a running back in the later rounds of the upcoming draft.

This free agency will undoubtedly be a rollercoaster of emotions as we see long-tenured faces walk out the door, reminiscing on what once was, and new sets of heads ready to put on that red helmet for the first time, direly seeking Super Bowl LIX. Nonetheless, unwavering faith is set in the hands of Andy Reid, Veach, and the entire Chiefs’ front office to get the job done in free agency and the draft, as they continue to show no signs of slowing down.