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Falcons close to multiyear extension with coach Smith

The Atlanta Falcons are very close to a multiyear contract extension with coach Mike Smith, a league source said Wednesday.

The sides have been quietly negotiating for a few weeks and agreed on many principles of a new deal, according to the source.

The team expects to announce the extension shortly because the deal is close to being finalized.

Smith signed a four-year contract worth between $8 million and $10 million with the Falcons in 2008, leaving his job as the Jacksonville Jaguars' defensive coordinator. He took over a struggling franchise but quickly turned it around, going 33-15 with two playoff berths in three seasons.

The Falcons were an NFC-best 13-3 this season, clinching the conference's No. 1 playoff seed, but lost to the Green Bay Packers in the Divisional Round.

The Atlanta Journal-Constitutionreported in December, citing a person familiar with the situation, that the Falcons would give Smith a new deal after the season.

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