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The Kansas City Chiefs could be finding out about the rest of their draft picks at some point on Monday. The NFL owners are conducting their annual meetings in Arizona and Monday is usually the day of the meeting in which the league announces compensatory picks for every team.
The Chiefs are projected to land the maximum of four compensatory picks for the free agents they lost in 2014.
Compensatory picks are draft picks handed out by the league based on how many qualifying free agents you lost the prior year vs. how many you signed. The compensatory pick formula is not publicly known but it involves the size of the contract the free agent signed, his playing time and any postseason honors.
So the Chiefs for example lost the following free agents and signed the following free agents:
Lost (8): Branden Albert, Tyson Jackson, Jon Asamoah, Geoff Schwartz, Dexter McCluster, Quintin Demps, Akeem Jordan, Kendrick Lewis
Gained (4): Vance Walker, Joe Mays, Jeff Linkenbach, Christopher Owens
Over The Cap projected the Chiefs to gain four compensatory picks based on this formula: third round pick, two fifth round picks and a seventh round pick.
Note that this only includes "qualifying" free agents. So that means a player who is cut from another team and signed -- think Tyvon Branch this year, who was cut by the Raiders and signed by the Chiefs -- does not count towards the formula. The qualifying free agents are only true free agents, not players cut by their team.
The Chiefs currently have six draft picks, one in each round save the fifth round which they traded to the Saints for Ben Grubbs. If the projection of four compensatory picks is correct, the Chiefs will end up with 10 picks in the 2015 NFL Draft.