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NFL free agency, 2018: Biggest winners and losers from day one

By Peter Panacy

LANDOVER, MD - NOVEMBER 12: Quarterback Kirk Cousins #8 of the Washington Redskins talks with quarterback Sam Bradford #8 of the Minnesota Vikings after the Minnesota Vikings defeated the Washington Redskins 38-30 at FedExField on November 12, 2017 in Landover, Maryland. (Photo by Patrick Smith/Getty Images)
LANDOVER, MD - NOVEMBER 12: Quarterback Kirk Cousins #8 of the Washington Redskins talks with quarterback Sam Bradford #8 of the Minnesota Vikings after the Minnesota Vikings defeated the Washington Redskins 38-30 at FedExField on November 12, 2017 in Landover, Maryland. (Photo by Patrick Smith/Getty Images) /
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KANSAS CITY, MO – NOVEMBER 29: Sammy Watkins #14 of the Buffalo Bills makes a catch against Eric Berry #29 of the Kansas City Chiefs at Arrowhead Stadium during the first quarter of the game on November 29, 2015 in Kansas City, Missouri. (Photo by Peter Aiken/Getty Images)
KANSAS CITY, MO – NOVEMBER 29: Sammy Watkins #14 of the Buffalo Bills makes a catch against Eric Berry #29 of the Kansas City Chiefs at Arrowhead Stadium during the first quarter of the game on November 29, 2015 in Kansas City, Missouri. (Photo by Peter Aiken/Getty Images) /

Loser: Kansas City Chiefs

The Kansas City Chiefs aren’t listed here as losers for the same reasons as everyone else. Rather, they’re just taking some awfully big risks.

K.C. entered this offseason with serious salary cap issues, which forced the team to part ways with aging, expensive veterans like quarterback Alex Smith and EDGE Tamba Hali to clear cap space and open the door, in Smith’s case, for second-year QB Patrick Mahomes.

Offensively, the Chiefs went all in on wide receiver Sammy Watkins, who ended up being “third fiddle” behind receivers Robert Woods and Cooper Kupp for the high-flying Rams offense in 2017.

This, from Sportsnaut’s Jesse Reed, tells you what you need to know here:

"The Chiefs made a bold play to give young quarterback Patrick Mahomes another speedy weapon for a downfield attack. But they reportedly paid Watkins $30 million guaranteed on a three-year, $48 million deal. That’s way too much money ($16 million per year) to pay for a guy who has a history of injuries and catches just over half the passes thrown his way."

Additionally, inking former Dallas Cowboys linebacker Anthony Hitchens should provide a big boost to the Chiefs’ porous run defense from a year ago.

But at five years and $45 million? That’s the kind of money that would put K.C. right back into salary cap hell in the not-so-distant future. That’s why we have to list the Chiefs as NFL free agency losers.