NFL News & Transactions: Alex Smith Signs $68M 4-Year-Deal with The Chiefs

Alex Smith will be playing with the Kansas City Chiefs for four more years.

According to CBSSports.com, the quarterback and the Chiefs finalized a deal that is allegedly valued at $68 million, to run from 2014 to 2018. According to Terez Paylor of the Kansas City Star, Smith will rake in about $17 million each year.

John Dorsey, GM of the Chiefs said via CBS Sports, "It was a priority of ours to get this deal done and keep Alex in a Chiefs uniform long-term. Alex is a proven leader on and off the field. He is a special individual with a lot of ability, and we are fortunate to have him here."

Bleacher Report listed how Smith led the Kansas City Chiefs to the 2013 NFL playoffs. The Chiefs started the 2013 season with a 9-0 run and finished with 11-5. They ended the season ranking No. 5 in the AFC.

But some people were debating whether Smith was worth the new huge contract, Bleacher Report observed. Although the Chiefs did not play as well during the playoffs, losing to the Indianapolis Colts in the Wild Card Round, many said that it was not Smith's fault. In the Colts game, Smith had four touchdowns, 378 yards and 57 rushing years, the sports site continued.

"Smith and the Chiefs had been working on the new deal throughout the offseason. Smith said in late July, per Paylor, that he didn't want the negotiations to become a 'distraction.' Now, both Smith and the team can focus exclusively on the upcoming campaign," Bleacher Report added.

The 30-year-old Smith had one more year on his contract, which should have paid him $7.5 million in the 2014 season, CBSSports.com revealed. The report added that Smith's agent, Tom Condon, negotiated the extension successfully and the deal made Smith the 10th-highest paid quarterback on the average.

Andy Reid said, "John and his staff along with Tom and his group have worked hard to get this deal done. They've done a nice job. Alex is a smart, talented football player that has adapted well to our offensive scheme." He added, "He also, obviously has had a tremendous amount of success as a quarterback in this league. We as a team are very happy to have Alex as our quarterback moving forward."

Smith previously played with the San Francisco 49ers but had to be traded to Kansas City after Colin Kaepernick took over the team, CBSSports.com recalled.