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Jamaal Charles, Kansas City Chiefs agree to 2-year contract extension

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All is well again as Jamaal Charles and the Chiefs strike an agreement on a new deal. It's a two-year extension, making his full contract worth $28 million over four years.

Jamie Squire

That didn't last long. Jamaal Charles and the Kansas City Chiefs have reached an agreement on a new contract, according to NFL Network.

Let me be the first say ... WHEW!

Before you read the rest of this, go read Jamaal's response to his new deal. So awesome.

ESPN's Adam Schefter reports it's a two-year extension.

And Fox Sports Mike Garafolo says it's $18 million in new money.

Charles had two years remaining on his previous deal, which was signed in 2010. He was set to make just under $10 million over the next two seasons. Unless I'm missing something, that makes the total value about $28 million over four years, which is $7 million per year. Eagles RB LeSean McCoy has the second highest annual average for a running back at $9 million per year, behind Adrian Peterson at over $12 million per year.

Obviously, we'll need some more clarity on the numbers to see how they affect the cap. The Chiefs had $9.4 million in cap space before this deal.

Comparing his previous deal to other top paid running backs and it was clear Jamaal was seriously underpaid. Jamaal's $8.3 million in 2014 would make him the second highest paid running back this season.

Word came down on Tuesday night that Jamaal Charles was going to hold out from training camp barring a new deal. The Chiefs veterans reported for training camp on Wednesday and I did not see Jamaal while I was out there, which made it appear he was a holdout. Luckily for the Chiefs, his holdout is ending very soon.

The Chiefs first training camp practice is on Thursday at 3:30 p.m. (Arrowhead Time). You can bet I'll be looking for Jamaal out there.

All is well again.