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Reports: Chiefs Sign Matt Cassel to Six Year Deal with $36 Million Guaranteed

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It's okay to buy the Matt Cassel jerseys now

via nfl.imageg.net

Update: Adam Teicher of the Kansas City Star and Peter King of Sports Illustrated are disputing this story.

The Kansas City Chiefs have signed Matt Cassel to a six year contract with $36 million guaranteed according to the NFL Network and the National Football Post.

The Chiefs dealt a 2nd round pick to the New England Patriots for the right to land Cassel and his $14 million franchise tag.  Since then we've gone back and forth on the advantages and disadvantages of getting him locked up in a long-term deal. 

This news is breaking just an hour and a half away from the start of the NFL Draft.  I would guess this was a fairly easy deal to get done then, maybe even having been completed weeks ago with the Chiefs' keeping in the secrecy theme preferring to wait until draft day to announce it.  The Chiefs were actually in danger of not hitting the salary cap floor but depending on the payout of this deal, they probably don't have to worry about that anymore.

The last six year contract signed by a quarterback with this much money guaranteed was Matthew Stafford ($41.7 million) yesterday and Matt Ryan ($34.75 million) last year.

H/T CMatthews in the comments