Kansas City Chiefs sign Matt Araiza

The Chiefs' one-year, $960K deal with Matt Araiza is a low-risk, low-cost roster move that earns a C+ Contract Value Index (CVI) — fair value on paper, but not a steal given the uncertainty surrounding the player. At less than $1M AAV, this is essentially a minimum-level commitment, which limits the downside exposure considerably and keeps Kansas City's cap ledger clean heading into a critical offseason after a rough 6-11 campaign. That said, a C+ CVI signals the contract isn't generating surplus value the way a true bargain signing would — the price reflects the market reality of where Araiza stands as a commodity rather than a front-office coup. The one-year structure is the smartest possible framing here: it gives the Chiefs a full season to evaluate whether Araiza can lock down the punter role without any long-term commitment tethering the roster. With no guaranteed money reported, Kansas City retains maximum flexibility to move on if a better option emerges before or during the 2026 season. This is the kind of transaction that won't move the needle either way — it's a pragmatic depth fill at a specialist position, nothing more. The CVI holding steady rather than trending up tells the whole story: acceptable execution, but not the kind of value-hunting that defines a sharp front office.