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UPDATE: 2:14 p.m. Arrowhead Time
ESPN’s Adam Schefter reports the extension is worth almost $58 million.
Compensation update: Chiefs are giving Pro Bowl TE Travis Kelce a four-year, $57 million extension that ties him to Kansas City for the next six years, per source.
— Adam Schefter (@AdamSchefter) August 13, 2020
UPDATE: 2:04 p.m. Arrowhead Time
The deal is now agreed upon, per NFL Network’s Ian Rapoport.
The #Chiefs agreed to terms with TE Travis Kelce on a 4-year extension worth between $14M and $15M per year in new money average. Big.
— Ian Rapoport (@RapSheet) August 13, 2020
Report: Chiefs nearing contract extension for tight end Travis Kelce
Originally posted: August 13, 2020, 1:23 p.m. Arrowhead Time
The Kansas City Chiefs are working on a contract extension for tight end Travis Kelce, according to a report from NFL Network’s Ian Rapoport.
Sources: The #Chiefs are closing in on signing star TE Travis Kelce to a long-term extension – at least 5 years – that keeps him in a KC uniform catching passes from Patrick Mahomes for the foreseeable future. Keeping their best players...
— Ian Rapoport (@RapSheet) August 13, 2020
And more from ESPN’s Jeremy Fowler.
Travis Kelce and the Chiefs have agree to parameters on a four-year extension that would tie Kelce to the Chiefs for the next six seasons, sources told ESPN.
— Jeremy Fowler (@JFowlerESPN) August 13, 2020
We first learned in early February that the Chiefs could extend Kelce after George Kittle agreed to a new contract.
In discussing Chiefs' roster on NFL Live, my expectation is Sammy Watkins wouldn't take a pay cut from $14M salary if asked. He knows his free agent market would be strong. Travis Kelce, who has two years left, might give Chiefs a friendly nudge once George Kittle gets paid.
— Jeremy Fowler (@JFowlerESPN) February 6, 2020
That happened on Thursday morning.
The #49ers & star TE George Kittle are in agreement on a 5-year, $75M extension, sources tell me & @MikeSilver, one that gives him more than half of it in guarantees. Language is being worked on, but numbers are there. One of their top players, this was a big-time priority
— Ian Rapoport (@RapSheet) August 13, 2020
Kelce had been scheduled to earn $11.2 million this year and $9 million next, with base salaries of 8 million and 7.8 million, respectively. The expectation is that his new deal will bring him closer to Kittle...
Money not finalized but expecting to come in just under Kittle's $15M per year. Kelce in a different situation -- turns 31 in October, third contract, keeping band together in KC a factor. https://t.co/ek5oGd8XcH
— Jeremy Fowler (@JFowlerESPN) August 13, 2020
...while also — amazingly enough — clearing more 2020 cap space.
30 year old Travis Kelce has 2 years, $18.25M remaining on his current deal w/ the #Chiefs, none of which is guaranteed. He’ll now benefit from George Kittle’s market reset, while also likely clearing a bit of much needed cap space for KC in the process.
— Spotrac (@spotrac) August 13, 2020
Kelce will be 30 when the season begins, and if reports are correct, 37 when his contract ties to the Chiefs end.