Alex Smith has agreed to a four-year, $68 million extension with the Chiefs, the Kansas City Star reports.

Smith has agreed to a four-year, $68 million extension with the Chiefs, the Kansas City Star reports.

Analysis:

With Smith set to become a free agent after the season, the Chiefs will lock him up for the next four years. The deal guarantees Smith $45 million, with the remaining $23 million based upon certain bonuses, most of which are probably tied to his production. While questions remain regarding Smith's ability to lead a contending team, he's coming off of a season in which he threw for 23 touchdowns and a career-best 3,313 yards. Thus far in the preseason, Smith is 31-of-51 for 286 yards and two picks.