The deadline for players who have received the franchise tag to get a contract extension done is coming up soon. July 15 is the date that teams and players in that scenario are counting toward in negotiations. For the Kansas City Chiefs, extending one of their best players, guard Trey Smith, is likely a monumental goal before the season starts.

With roughly a week left to get a extension signed, it is important to note that Smith quickly signed his franchise tag tender already. As a result, the blocker is already set to play on a $23.4 million price tag in 2025, if no extension is reached.

Let’s say the Chiefs do get a contract extension done with Trey Smith before the July 15 deadline passes. If so, what could a new deal look like for the Tennessee product? Here are some key notes to monitor as negotiations near the finish line.

Smith is likely to reset the market

The likelihood that Trey Smith resets the guard market on a new contract extension is pretty high. For one, he has earned that with his stellar play to this point in his career.

After injury questions clouded his draft process, Smith has turned into a sixth-round steal for the Chiefs. That has helped them maintain one of the better interior blocking trios in the last few years. Plus, Smith has been huge in the brightest moments, helping Kansas City win two Super Bowls during his professional career so far.

Outside of those results on the field, Smith has become a trusted young piece within the roster. His demeanor and leadership show up in the locker room and on the field. Elsewhere, Smith has grown into a pillar on the team among recent Chiefs draft picks. The Kansas City regime knows they can lean on him as one of their captains, so to speak.

All in all, if the Chiefs opted to reset the guard market with Trey Smith, it would not be surprising to see him land a deal that locks him up for the next five to six seasons.

Where the NFL’s guard market currently sits

The current mark for highest paid guards per season is Landon Dickerson of the Philadelphia Eagles. He is averaging $21 million per season on his deal. In total, there are four names at the guard position who are currently averaging at least $20 million per season on their contracts.

Following Dickerson, Chris Lindstrom of the Atlanta Falcons is making an average of $20.5 million per season. Meanwhile, both Quenton Nelson (Indianapolis Colts) and Robert Hunt (Carolina Panthers) are each averaging exactly $20 million per year on their respective deals.

That is not a big list to top in terms of quantity for Kansas City at the guard position. But at the same time, the Chiefs already have the highest-paid center in the NFL. Creed Humphrey sits as the market leader at his position, averaging $18 million per season. Having roughly $40 million in average salary for two blockers going forward would be intriguing waters to navigate for K.C.

The contractual guarantees

So much focus goes to the total monetary value of what the reported deal is when an extension is signed. But for the most important details of an extension, especially what a player is looking at, is the guaranteed money involved. According to Spotrac, Lindstrom leads all guards by receiving just over $48 million guaranteed at signing when he got his deal with Atlanta.

Only two other guards received at least $40 million guaranteed at signing among current contracts at the position. If the Chiefs have to get into that threshold or top it, it could lead to a fascinating framework for the potential extension. More guaranteed money could still allow the Chiefs to reset the guard market with Trey Smith. However, Kansas City could look to slice its way in between some of the names in the guaranteed money category.

What a Trey Smith extension may look like

If the Chiefs and Trey Smith come to terms on a new contract extension, odds suggest that he will top $100 million in reported total value. The team may feel more comfortable resetting the guard market in average salary. As for guaranteed money, it could be more questionable if Smith becomes the highest in that area for the position.

If it is going to take paying Smith at least $21.1 million to $22 million per year at a minimum, the Chiefs may offer him anywhere from $105.5 million to $110 million on a five-year deal. However, if they opt for a slightly shorter term of four years, Smith could still receive a total value of $84.4 million to $88 million on the contract. That ballpark seems to be the sweet spot for any Trey Smith extension in Kansas City. Not resetting the guard market would be stunning if they do come to a long-term agreement.