Alex Smith, Chiefs agree to four-year extension

The Kansas City Chiefs and quarterback Alex Smith have agreed to a four-year extension worth $68 million that includes $45 million in guaranteed money, per Terez A. Paylor of the Kansas City Star.

As he was entering the final year of his contract, that means he is now under contract through the 2018 season.

In his first season in Kansas City with Andy Reid, Smith threw for 3,313 yards and 23 touchdowns, both of which were career highs, with only seven interceptions. In addition, he rushed for a career-high 431 yards and a touchdown.

A surprise top-10 finisher in fantasy points last season, it's unlikely that Smith duplicates that level of production this year, but he is a solid QB2. He's 20th in my 2014 preseason fantasy football quarterback rankings.

With limited options in the receiving corps led by Dwayne Bowe, who is suspended for Week 1, Smith will continue to heavily target Jamaal Charles out of the backfield and Travis Kelce could be poised for a breakout season.

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