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Alex Smith’s new contract with Redskins could be good news for Chiefs

The Chiefs traded Alex Smith to the Redskins who promptly gave him a new contract. None of this is official until the new league year in March.

Alex Smith traded to the Washington Redskins! Let's talk about it LIVE!

Posted by Arrowhead Pride: For Kansas City Chiefs Fans on Tuesday, January 30, 2018

When Alex Smith was making the media rounds today at the Super Bowl he probably knew he was on his way to being traded. The Kansas City Star’s Terez Paylor has reported that the Chiefs are trading Alex Smith to the Washington Redskins.

And now ESPN’s Adam Schefter is reporting that Alex is getting a new four-year extension as part of the trade, and Chris Mortensen has the details.

More from NFL Network’s Ian Rapoport:

Alex got paid. An average of $23.5 million a year is fourth highest in the league among quarterbacks, only behind Matt Stafford, Derek Carr and Andrew Luck.

This was a key part of the analysis that I think some were missing with a possible Smith trade: he was going to need a new contract. He had one year left on his deal.

Smith said earlier today during Super Bowl media rounds that he thought he had earned the right to be part of the trade conversation. I read that as a nod to the extension. No one’s trading for him if he’s not going to sign a long-term deal with them (sorry, Cleveland). Or at least no one is trading anything significant without the assurance he’s there for a while.

I see Alex’s new contract with Washington as good news for the Chiefs. They’re not just renting him. They’re in it for the long haul with this new contract and that means they probably gave up something significant to get him.

Adam Schefter said this morning the price was a second-round pick but we’re waiting for final details of what they agreed to.