UPDATE: The deal is reportedly DONE! Six years, $101 million for Houston.
The deadline for Justin Houston to sign a long-term deal with the Kansas City Chiefs comes at 3 p.m. (Arrowhead Time) this afternoon. If Houston does not sign a long-term deal by then, he can not sign a long-term deal until after the 2015 season. He has been franchise tagged but has not signed the tag.
We'll be updating the Houston rumors throughout the day. Here's where we stand now with the most recent updates first...
"JJ Watt territory"
Progress continues between the #Chiefs & star Justin Houston. A deal would put him in JJ Watt territory: 6 years, $100M, $50M+ in guarantees— Ian Rapoport (@RapSheet) July 15, 2015
"Could go down to the wire"
Chiefs and Justin Houston still working away at a long-term deal. Could go down to the wire for the franchise player— Jason La Canfora (@JasonLaCanfora) July 15, 2015
Jason La Canfora of CBS Sports: "Justin Houston may have the best chance of this group to actually put pen to paper this week on a long-term deal. The dialogue between him and the Chiefs has been long-ongoing, they have made significant progress and the Chiefs know that franchising him two years in a row is going to cost them well over $30 million over two years already."
"The most optimism"
Of all franchise tag situations, Justin Houston & #Chiefs have the most optimism. Nothing is certain, but they have made a big commitment— Ian Rapoport (@RapSheet) July 14, 2015
Via Mike Florio at Pro Football Talk: "Right now, a source with knowledge of the process pegs the chances of a deal at 50-50, not because it's a coin-flip proposition but because it remains unknown whether those two circles on the Venn diagram will at least kiss."