As the Kansas City Chiefs went through their voluntary minicamp back in July, there was one key player who didn’t show up. That was four-year veteran offensive guard Trey Smith, who earlier in the year became one of only two players in the NFL to be slapped with a franchise tag.
The franchise tag prevents a player from becoming a free agent, even though he would otherwise be eligible. In Smith’s case, hitting him with the tag meant that Smith was obligated to sign a one-year, $23.4 million contract. Smith would then become an unrestricted free agent after the 2025 season unless the Chiefs could negotiate a contract extension with the former Tennessee Volunteer.
The franchise tag was designed to allow the Chiefs and Smith to do exactly that. And it worked.
Smith may not have been thrilled to be tied up by the franchise tag, but he had to be pleased with the final result. On July 15, the Chiefs signed Smith to a four-year, $94 million contract extension with $70 million of that money guaranteed.
Highest Paid Interior Lineman in NFL History
With that contract, Smith became the highest-paid interior offensive lineman in NFL history, in terms of guaranteed money. While offensive linemen suffer injuries at a somewhat lower rate than the average NFL player in any position — a 3.4 percent chance per game as opposed to the league average of 4.1 percent — the injuries suffered by offensive linemen tend to be more severe.
Offensive linemen experience medial collateral ligament knee injuries at twice the rate of other NFL players, which may be one reason why teams are mode reluctant to hand out guaranteed contracts to players in those positions.
So what does the highest-paid offensive guard in league history do with his money?
Smith Reveals First Purchase After Contract
That was the question posed to Smith on ESPN’s This is Football program on Thursday. More specifically, host Kevin Clark asked Smith the first purchase he made once he signed the record-setting contract.
Given that as a sixth-round pick in 2021, Smith played the first four seasons of his career on a four-year rookie contract worth a total of $3.6 million — a base annual salary of $660,000 compared to the annual $23.5 million he will earn under his new contract — it must have been hard to resist spending on at least a few extravagances, after getting such an astronomical raise. Right?
Not for Smith. He told Clark that the first thing he did with his new riches was buy “a nice steak.”
“I’m a little frugal man,” Smith told Clark. “I don’t really like to spend a whole lot.” He estimated the price of his steak, a ribeye, at $70.
Actually, Smith Did Not Buy His Own Steak
But pressed a little further, Smith revealed that he did not even pay for the steak himself.
“My dad actually bought it for me,” the 26-year-old lineman said. “Hey, I insisted. He was just like, ‘Hey son, I got you.’ I was like, ‘Dad, you know, I just — ‘ He’s like, ‘Look, don’t worry about it. Go out, get a nice steak. Have a good time, you know?’ So that’s it, man.”
Smith went on to say that his only plans for his newfound wealth would be to “build a home in the future. But you know, that’s the future. So, no, I haven’t really spent much.”
Chiefs $94 Million Guard Reveals First Thing He Did After Signing Record Deal