Chiefs Extend Contract of Will Shields and Warpaint Illustrated have confirmed that All-Pro Guard Will Shields has agreed to a four year contract extension that will ensure he will retire as a member of the Kansas City Chiefs.

Though no official announcement will be made for several days, we've confirmed that all parties have agreed to the terms and an official announcement chould be made in the next 72 hours.

With the contract extension in place for Shields, Kansas City appears to have freed up another $3 million in cap space. That gives the Chiefs nearly $10.5 million in cap space to extend the contracts of tight end Tony Gonzalez and running back Larry Johnson.

It also gives them cap space to re-sign fullback Tony Richardson and defensive tackle Lional Dalton.

The Chiefs have been relatively quiet since free agency began on Saturday at midnight. While other teams have been active, the Chiefs publicly have indicated that they'll let the first wave of free agents sign before they officially line up any visits at Arrowheadring in any free agents.

As of this writing the Chiefs are still in the Terrell Owens sweepstakes. It appears the Dallas Cowboys are the only other serious suitor for the inigmatic wide receiver.

Two other players on the Chiefs radar screen are both cornerbacks. Kansas City has a watchful eys on Charles Woodson and Ty Law. Both come with extreme baggage but with the signing of Shields, Kansas City now has some room to maneuver in creating competitive contracts for either Owens, Woodson or Law.

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