When rumors surfaced that Chiefs quarterback Alex Smith wanted a contract extension in the seven-year $126 million range, one of the biggest debates of the NFL offseason became what is Alex Smith worth?
There’s no doubt that the quarterback is one of the most important players in the game of football, and they are paid handsomely, but only the best of the best deserve contracts reaching $120 million.
Take Aaron Rodgers for example, the Green Bay Packers quarterback signed a five-year $110 million contract extension in 2013, as he is currently the highest paid quarterback in the league. Rodgers, on average, makes $22 million annually, but his career stats speak for themselves. Since becoming the starting QB in 2008, Rodgers has led the Packers to the playoffs in five consecutive seasons, and earned a Super Bowl ring in 2010.
Recently San Francisco 49ers quarterback Colin Kaepernick signed a six-year $126 million deal with $61 million guaranteed. Its been argued whether or not this deal was appropriate for the quarterback, but in two years he has gotten the Niners to the Super Bowl and NFC Championship game. Kap's recent contract extension will cause some problems for the Chiefs in terms of setting a price for worth.
You can argue whether or not Smith is a top tier quarterback in the league, as with Jay Cutler, Kaepernick, Joe Flacco, Matt Ryan, and Tony Romo, who are also some of the top paid quarterbacks in the NFL. That being said, unlike some of the quarterbacks listed above, Smith has been placed in an offensive system that fits his ability with plays that allow Smith to be more cautious than others. When under pressure, Smith struggles. He only completed 46.1 percent of passes on 34.7 percent of dropbacks in 2013 with only four touchdowns, which is quite low in comparison to top quarterbacks such as Drew Brees, Russell Wilson, and even Ben Roethlisberger, who each had 10 touchdowns under pressure last season.
Smith is undoubtedly an important piece to the Chiefs offense and recent success. In his first season with the Chiefs, he posted several career highs including completions with 308, passing yards at 3,313, and touchdowns with 23. The quarterback also helped the Chiefs rebound from a 2-14 season in 2012 to an 11-5 record and Wild Card spot in the playoffs. Last year the Chiefs started the season on a roll, winning nine in a row, but struggled after the bye week, losing five of their last seven.
Smith has not shown that he is a top quarterback in the NFL and shouldn’t be paid like one. A contract extension around six years $60 million would be more than fair for the Chiefs quarterback, with anything over $80 million being too much. KC wants Smith to be their quarterback for the future, and with a lot of expectations for 2014 and beyond, they need him, but at the right price. They cannot afford to overpay a quarterback that simply isn’t worth a ton of money. The Chiefs and head coach Andy Reid are optimistic about reaching an agreement with Smith, but so far it hasn’t been easy.
For a quarterback who has only surpassed 3,000 yards twice in his career of eight seasons, a contract of $120-plus million is steep. The last thing the Chiefs need to worry about is reaching a long-term deal with their quarterback, but they are facing that with the season just months away.