The Chiefs are hoping to reach an agreement with franchise-tagged right guard Trey Smith ahead of a July 15 deadline for him to sign a multi-year deal.

The team has been in touch with Smith’s representation in recent days, according to NFL Network’s Ian Rapoport, but negotiations are coming down to the wire. Smith already signed his non-exclusive franchise tag in March, locking in a fully guaranteed $23.4MM salary for the 2025 season if the two sides can’t come to multi-year terms before the deadline passes tomorrow.

An extension has obvious appeal for both sides. For Kansas City, it’s a chance to lock down one of their best players for the foreseeable future while reducing a 2025 cap hit that ranks third among all offensive lineman. (Chiefs right tackle Jawaan Taylor ranks second, according to PFR’s Adam La Rose.)

For Smith, an extension would mean long-term financial security and a stronger up-front cash flow. He said last week that he is focused on football and leaves the contract talks to his agents at Creative Artists Agency.

The $23.4MM tag makes Smith the highest-paid guard in the league ahead of Landon Dickerson at $21MM per year and three others with an APY above $20MM. A multi-year agreement with the Chiefs would keep Smith in the top spot, per Rapoport, but the Chiefs may not want to reset the market by $2.4MM.

A second tag in 2026 would be unlikely with a price tag of $28.08MM, but it could establish a framework for a deal. Two straight tags for Smith would pay him $51.48MM in fully guaranteed money over the next two years, outpacing the previous high of $48.2MM set by Chris Lindstrom. The Chiefs could design a contract with a similar cash flow and guarantee structure in an attempt to convince Smith to take an overall APY below $23.4MM.

Such a deal would have to come together before tomorrow’s deadline. If not, Smith will play on the tag this year to set up another round of extension negotiations after the season.