🏈 Chris Jones Signs a BIG Extension - 3/10/24

Good morning Chiefs Kingdom,

We’re bringing you a Sunday morning edition of the newsletter in light of some breaking news.

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— Luke Gromer

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Chiefs News

Chris Jones Signs

Last night, news broke that Chris Jones and the Chiefs agreed to a 5-year extension worth nearly $160m with $95m guaranteed.

All the guaranteed money is in the first three years of the contract.

The first two years of the deal are fully guaranteed at signing and the third year guaranteed money vests in March of 2025 per Albert Breer.

The contract will be the highest-ever annual salary for a DT.

More details about the contract will likely emerge in the next few days.

The Chiefs and Jones reached this agreement before the legal tampering period begins tomorrow and NFL free agency officially opens on Wednesday.

Luke’s Take

The Chiefs are giving Jones more money in the next three years than I expected them to, but I’m glad they locked up arguably the most important player on the defense.

The high annual value of Jones’ contract is in part due to the significant jump in the salary cap this season. Also, NFL teams expect that cap number to continue rising in future seasons due to the financial health of the NFL.

Jones deserves to be paid as the best DT in the league based on his performance over the past few seasons, but until the full details of the contract emerge, it’s hard to make a judgment on the deal.

Based on all the guaranteed money coming in the first three years, I’m guessing that the Chiefs will be able to move on from Jones without it costing them a lot of money after three years.

Jones will turn 30 this summer and his play will likely decline significantly at some point in the next 3-5 seasons.

As long as the Chiefs have a way to get out of the contract after three years, I’m a fan of the deal.

Last week, the Chiefs signed Drue Tranquill to a 3-year extension.

The contract is worth $19m with $13m fully guaranteed.

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