The Kansas City Chiefs appear poised to place a $23.4M franchise tag on pending free agent guard Trey Smith. This figure usurps Landon Dickerson's current $21M APY as tops among guards, setting Smith up to sign a record-setting multi-year extension this offseason. The deadline to extend tagged players is July 15th (even if the player is traded in the meantime).

The Chiefs enter March with around $8M of Top 51 cap space, so they'll have work to do to fit in this tag figure alone.