Chiefs' free agency primer
Setting the table for the week to come
And so, it begins.
NFL free agency officially starts Wednesday at 3 p.m. CST, but the action truly kicks off behind the scenes on Monday at 11 a.m. CST.
The period marks a two-day window of open negotiations, often referred to by some media members as “legal tampering,” which is an oxymoron.
NFL teams are allowed during open negotiations to contact and negotiate with certified agents representing players scheduled to become unrestricted free agents on Wednesday. But agreed upon contracts won’t be executed until the league’s calendar year officially begins.
Will the Chiefs be active in the coming week, either in-house or in the open market?
As of now, the Chiefs have 17 players from the 2024 active roster scheduled to enter the market Wednesday as unrestricted free agents. The Chiefs also have five restricted free agents and three exclusive-rights free agents.
“Every offseason there seems to be a unique challenge, and this will be no different,” Chiefs general manager Brett Veach said two weeks ago at the NFL Scouting Combine. “We have a lot of good players that are pending free agents, and so (I’m) anxious to get with their agents and discuss, hopefully, long-term plans with a bunch of them.”
MONEY MATTERS
The NFL and NFLPA in late February agreed to 2025 salary cap figure of $279.2 million, according to NFL.com.
The Chiefs, however, are currently projected at $3.27 million in the red, according to OverTheCap. And the figure accounts for the recent trade of All-Pro left guard Joe Thuney, whose departure freed up an estimated $16 million.
Simply put, Veach must work his annual magic to get under the cap before the start of the NFL’s new calendar year.
Veach’s options include, but are not limited to, restructuring contracts for quarterback Patrick Mahomes, tight end Travis Kelce and defensive tackle Chris Jones to gain much-needed cap space.
And any restructuring, which could be in the form of converting roster bonuses to a signing bonus, is essential if the Chiefs hope to actively engage in free-agent signings throughout the open market.
IN-HOUSE MATTERS
The Chiefs looked inside first before the free-agency frenzy by addressing three players.
First, the Chiefs extended a franchise tender to right guard Trey Smith, who was set to become an unrestricted free agent.
The Chiefs then locked up wide receiver Marquise “Hollywood” Brown with a one-year deal worth up to $11 million, according to multiple reports. Veach indicated during the NFL Scouting Combine that Brown was one of his priorities when discussing the wide receiver position.
“The last two years, we’ve had two great receivers,” Veach said. “It’s a shame Rashee (Rice) got hurt because I think he had a chance to be a Top 10 receiver, and then the progress (Xavier) Worthy made last year. I think those guys will be a dynamic combination, and we’ll see if we can get Hollywood back. But, again, receiver will be a position, too, that we’ll never shy away from.”
Lastly, the weekend saw Veach move to secure linebacker Nick Bolton on a reported three-year, $45 million deal.
Bolton’s value to the team goes beyond his tackling capabilities, as defensive coordinator Steve Spagnuolo relied on Bolton as the “green dot” to communicate defensive alignments and plays to his teammates. Bolton, who turns 25 on March 10, has led the Chiefs in tackling in three of the past four seasons.
SEEKING A LUCRATIVE PAYDAY
The NFL defines an unrestricted free agent (UFA) as a player holding four or more accrued seasons with an expired contract, meaning such player is free to sign with any team, including his past club.
And the Chiefs have plenty of those types of players.
Safety Justin Reid, a defensive leader, headlines the list and it remains to be seen if the Chiefs can keep him, especially in light of Bolton’s contract.
Reid, who recently turned 28, helped anchor the back end of coverage with 265 total tackles (190 solo), four sacks, 11 quarterback hits, three interceptions and 23 passes defensed over the past three seasons. Reid can also fill the role of an emergency kicker on special teams.
Other defensive contributors scheduled to enter the open market are linemen Charles Omenihu, Tershawn Wharton, Derrick Nnadi, Mike Pennel and Marlon Tuipulotu, and linebacker Joshua Uche.
On offense, the Chiefs have multiple players they could potentially bring back on one-year deals and not break the bank.
Kansas City tends to lean to a veteran signal-caller behind Mahomes, so re-signing Carson Wentz makes sense. The 32-year-old Wentz, though, could command interest on the open market from a team in desperate need of a starting quarterback.
Wide receivers DeAndre Hopkins, Mecole Hardman, Justin Watson and JuJu Smith-Schuster are intriguing veterans, but the return of Brown likely signals the Chiefs move on.
Running backs Kareem Hunt, who led the Chiefs in rushing (720 yards) and rushing touchdowns (7) last season, and Samaje Perine, offensive tackle D.J. Humphries, tight end Jody Fortson and long snapper James Winchester round out the team’s UFA list.
Given the Chiefs’ need at left tackle, securing Humphries’ services more than makes sense.
RESTRICTED FREE AGENTS (RFA)
The NFL defines a restricted free agent as a player with three accrued seasons. A team has the option of tendering a qualifying offer before the player’s contract expires at the start of the new calendar year.
Tight end Peyton Hendershot, defensive end Malik Herring, linebacker Jack Cochrane, and cornerbacks Nazeeh Johnson and Keith Taylor are the Chiefs’ RFA.
EXCLUSIVE RIGHTS FREE AGENTS (ERFA)
The NFL defines an exclusive-rights free agent as a player with less than three accrued seasons. The player is exclusive to the original team and can’t enter negotiations with another club if there’s a qualifying tender.
The Chiefs have three players scheduled to become ERFAs: guard Mike Caliendo, punter Matt Araiza and kicker Spencer Shrader.