Parker will make $25 million in base salary and potentially $5 million in incentives tied to playoff appearances and interception, reports NFL Network's Ian Rapoport.
Parker's hometown newspaper, The Beaufort Gazette in South Carolina, first reported the deal. He later tweeted about his return to Kansas City:
Parker, 28 in August, has spent the last two seasons with the Chiefs. Last season was his breakout year, as he split time between cornerback and safety over 16 games (15 starts) and recorded 94 tackles, 12 pass deflections, one interception and one forced fumble.
In the back end of the Chiefs' secondary, Parker will join newly signed Tyvon Branch and returning starter Husain Abdullah. Three-time Pro Bowler Eric Berry was diagnosed with Hodgkin's lymphoma last December and faces an uncertain NFL future.
The Chiefs' defense ranked seventh last year with 330.5 yards allowed per game and was particularly strong against the pass, ranking second with 203.2 passing yards allowed per game.
- Mike Fiammetta