The Kansas City Chiefs will try to extend the contract of quarterback Alex Smith this offseason be-fore he begins the final year of his current deal, a source said Wednesday.

Smith led the Chiefs as they went from 2-14 in 2012 to an 11-5 record and playoff appearance this season. He has one year left on a three-year deal he signed in 2012. The final year is worth $7.5 million, all of that in base salary, making Smith vastly underpaid compared to other quarter-backs of his experience and ability.

For example, Jay Cutler signed a seven-year, $126.7 million contract last week with Chicago. That deal included $54 million guaranteed in the first three years.

Smith finished the season a quarterback rating of 89.1, the third best of his nine-year career. In addition, Smith has helped the Chiefs and San Francisco to a 30-9-1 record in his regular-season starts over the past three years. Those teams have made the playoffs each season, although Smith was replaced by Colin Kaepernick in San Francisco midway through last season.