Chiefs' Allen Bailey remembered Carson Palmer when agreeing to his new contract

One day before Allen Bailey was making a critical stop on fourth down against the defending Super Bowl champion Seattle Seahawks, he was signing a fresh four-year contract extension with the Chiefs worth a reported $25 million.

Because the Chiefs beat the defending champs, the national media came calling. Sports Illustrated's Peter King talked with Bailey about his new contract following the Chiefs 24-20 victory over the Seahawks.

I asked Bailey: Why didn't you wait for free agency?

"I saw the Carson Palmer incident," he said. "That was an eye-opener. Anything can happen, on any play. I decided to do it now. Plus, this is a great place for me. I love the family atmosphere we have here. We all buy in, and we all work hard. It's a great bunch of guys."

Palmer signed a new contract extension on November 7 and then tore his ACL on November 9. If Bailey hadn't signed his new deal on Saturday and then suffered a serious injury on Sunday, it would be a multi-million dollar mistake. I'm not telling anyone how to use their money but I agree with the perspective Bailey has here.

Make sure you read King's full story on the Chiefs in this week's MMQB.