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Throughout last season, league sources noted how unusual it is for a team not to finalize extensions after a Super Bowl victory, in this case the second title for Reid and Veach, who previously won the Super. Bowl LIV in February 2020 and agreed to new six-year deals that fall. A third championship after beating the 49ers this month in Las Vegas put the duo in rarefied air, setting the stage for contracts that will align them with the NFL’s best and then some.
Reid is believed to rank roughly eighth among head coaches in average annual contract value, and third in the AFC West after big-money additions the past two years of Sean Payton and Jim Harbaugh, respectively. Veach, 46, is believed to be one of the lowest-paid general managers in the NFL.
Coach and general manager contracts are not public records like player contracts, so tracking them can be complicated. But sources say a half-dozen NFL coaches are believed to make $15 million or more per year, even after the firings of Bill Belichick and Pete Carroll this offseason. And it’s fair to say that the Chiefs’ lack of new deals (and raises) for Reid and Veach after last year’s title was an anomaly in the modern NFL, raising some questions around the league.
A year after the Chiefs’ first title under the current regime, the Bucs won Super Bowl LV and announced new contracts with head coach Bruce Arians and general manager Jason Licht in June. The Rams won Super Bowl LVI after that and announced extensions in September for head coach Sean McVay and general manager Les Snead. (McVay acknowledged that he did it much earlier.) The Eagles also announced extensions for head coach Doug Pederson and general manager Howie Roseman after winning Super Bowl LII in February 2018.
Since that third Super Bowl win a couple of weeks ago, the Chiefs signed defensive coordinator Steve Spagnuolo to a new three-year contract that puts him among the highest-paid in the NFL at that position and extended the equipment coordinator’s contract Dave Toub specials.
Now it’s Reid and Veach’s turn, with new deals potentially struck at next month’s Annual League Meeting (March 24-27).