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Extending Kam Chancellor is Seahawks' next offseason challenge

The Seattle Seahawks may still have a couple moves left in free agency, but for the most part their roster is set heading into the draft later this month.

General manager John Schneider talks often about how offseason transactions are not made in a vacuum. The Seahawks constantly have to consider how their moves will impact roster and salary-cap flexibility in the future.

Which is why it's worth taking a peek down the road at the possibility of a contract extension for safety Kam Chancellor.

Chancellor, 29, is entering the final year of his current deal. Pete Carroll was asked at last week's owners' meetings whether the organization would like to get something done long-term with Chancellor this offseason.

"We would love to do something there, yeah," Carroll said.

But what might it take to accomplish that?

In the summer of 2015, Chancellor felt he was underpaid and held out two games into the regular season. But he had a very good year in 2016 and is one of the most widely respected players on the roster. On a defense filled with volatile personalities, Chancellor is often the one who provides the calming influence.

When projecting Chancellor's next deal, it's worth looking at two factors. One is how his new contract would compare to others on the team. And second is how it would compare to others at his position.

A reasonable comp for Chancellor would be Reshad Jones of the Miami Dolphins. Both players were selected in the fifth round of the 2010 draft. Both are strong safeties. And both signed previous extensions in 2013 that were worth about $7 million per year.

Last month, at the age of 29, Jones signed a four-year, $55.085 million contract extension. The three-year guaranteed value (from 2017 to 2019) is $33 million, or $11 million per season.

The deal made Jones the third-highest paid safety in the game behind Eric Berry of the Kansas City Chiefs and Tyrann Mathieu of the Arizona Cardinals.

It's reasonable to assume Chancellor is going to be looking for a similar deal. And he may very well want more, given that Chancellor is more accomplished, and he's been playing on what he's deemed to be an undervalued contract for two years. There aren't many signs here that suggest Chancellor would be willing to take a below-market deal.

The Seahawks currently do not have any players signed past 2020. Given that Chancellor is 29, they could look to extend him for two or three years for around $11-$12 million per season. That would put him in the top four on the Seahawks in terms of APY (average per year) and the top four among safeties league-wide.

This could very well be a tricky negotiation. The Seahawks have not let a core player of Chancellor's caliber walk in free agency. They'll have to determine what he's worth at this stage of his career and how much they're willing to pay. The franchise tag (a value of $10.8 million for safeties in 2016) could be an option as well.

Chancellor has to decide what he wants also. Perhaps the idea of hitting the open market to ensure he maximizes his value is appealing, and an offer of $11 million per season might not be enough to retain him. Many teams would undoubtedly welcome the opportunity to add Chancellor in 2018. He could serve a leadership role on a young defense or be the final piece on an already strong unit. Given Chancellor's punishing style of play, this could be his last chance to truly cash in.

Carroll has acknowledged often that each offseason presents different challenges. The Seahawks believe they have a legitimate shot to win the Super Bowl next season, but part of their goal has to be to find ways to extend their championship window.

We'll find out in the months ahead whether their plan includes keeping Chancellor in the fold beyond 2017.