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.