The Kansas City Chiefs are set to sign S Justin Reid on a three-year contract. While they can’t officially consummate the deal until free agency opens on Wednesday, the contract numbers are already out in the wild and it looks like a very good deal for both Kansas City and Reid.
According to the folks at OverTheCap, Reid’s contract with the Chiefs carries a total of $9.9 million in guaranteed salary over three seasons and a $10.5 million-dollar signing bonus prorated over the life of the contract. His cap hit in 2022 will be an affordable $4.55 million before ballooning to $12.7 million in 2023 and $14.2 million in 2024. The hope for the team is likely that the salary cap continues to balloon with new TV deals around the corner. The key here, however, was keeping that Year 1 cap number as low as possible.
It’s worth noting that if this signing doesn’t work out for whatever reason, Reid carries no guaranteed money in 2024. The Chiefs can release Reid in that year with just $3.5 million in dead money and over $10 million in savings. That’d obviously be a last resort, though.
Overall, this has the feeling of a pretty team-friendly contract. He’s guaranteed in Kansas City for at least two seasons, presumably the full three years if he performs well and the salary cap continues to rise as anticipated.
