The Kansas City Chiefs and Quarterback Alex Smith have finally agreed to terms on a 4 year extension worth $68 million with $45 million in guarantees. Smith is guaranteed $30 million at signing and another $15 million in injury guarantees in March 2015. We are waiting to see how the contract is structured, but if it were to be split up equally that would mean Alex Smith would be earning $17 million per year. It’s hard to fathom this quarterback being worth anything near this amount of money, but when the Chiefs are involved, anything moronic is possible. Remember when we traded from Matt Cassel in 2009 and immediately signed him to a 6 year contract worth $63 million with $28 million in guarantees? The Chiefs quite clearly don’t understand the quarterback position and refuse to learn from the mistakes of the past.