Yet another nail in Dorsey's coffin

[Discuss Thrower]

Here's a solid article on the future of the Chiefs that says everything better than I ever can.

Every time news breaks of a multi-year extension for a quarterback, a familiar drama plays out. It starts with reports of ungodly sums of guaranteed money along with an average annual figure that approaches or exceeds $20 million. Then after a day or so, a new set of figures comes out that's much more in line what comparable players at similar ages have received. It's all part of the dance between the interests of sports agents and NFL teams.

Yet the media and public fall for it again and again.

The latest example is Kansas City Chiefs quarterback Alex Smith. A week ago, the No. 1 overall pick in the 2005 draft signed a four-year deal first reported to be worth $68 million including a whopping $45 million in guarantees. Inevitably, these details proved to be misleading, as Smith is neither guaranteed $45 million at signing -- nor at any point if he doesn't meet certain thresholds.

What's worse is that Smith's contract might cost Kansas City one or more of its most valuable players on defense. According to Spotrac, the Chiefs have only about $5.2 million in available cap space for 2015. With Smith's contract rising from a $4.6 million cap hit this year to $15.5 million next year, he'll eat up every bit of cap space the team rolls over into next year and more. That's bad news, considering that Pro Bowl linebacker Justin Houston is an unrestricted free agent after this season.

Coming off back-to-back double-digit sack campaigns, Houston is understandably asking for huge raise. While the salary cap will increase by as much as $12 million next offseason, the Chiefs have to also reserve some money for an even more valuable asset: All-Pro safety Eric Berry. By committing $37.8 million in cap spending over the next three years, Kansas City has effectively eliminated their chance to retain both -- or even either of -- those defensive stalwarts.