The deal includes a $4 million signing bonus, according to the source.
Routt, who had offers from other teams, became a free agent after he was released by the Raiders only one year into a restructured five-year, $54.5 million contract. Including the $5 million in guaranteed money he is still owed by the Raiders, Routt will make a total of $9 million in March alone.
The Chiefs later confirmed the signing in a statement.
"Stanford has a proven record of success in the NFL,â Chiefs coach Romeo Crennel said. âHeâs a talented player that has spent seven seasons in the AFC West, so he is familiar with us and our division opponents. We are excited to have Stanford join the team, and we are looking forward to getting started."
Although the Chiefs have a surplus of salary cap room available, the signing of Routt could indicate the team will not use the franchise tag on impending free-agent cornerback Brandon Carr. A source close to Carr doesn't believe the tag will be used, but there has been no official word from the team.
Wide receiver Dwayne Bowe is the other obvious candidate to receive the franchise tag, but the team might not use it on any player this season. The franchise tag figures for the two positions -- $9.4 million for wide receivers and $10.6 million for cornerbacks -- are relatively the same in 2012.
Routt's representatives were engaged in contract talks with the Chiefs and Buffalo Bills last week, and the cornerback was scheduled to visit the Cincinnati Bengals as well, according to a league source. His representatives had also been in contact with the Dallas Cowboys and Houston Texans.
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