AAF co-founder Bill Polian says high costs mainly caused the AAF to suspend operations and there is only room for one professional football league. (1:07)

The Kansas City Chiefs announced Friday they have signed cornerback Keith Reaser.

ESPN's Adam Schefter reported Thursday that Reaser was the first player from the Alliance of American Football to agree to a deal with an NFL team.

The AAF suspended operations earlier this week and announced Thursday that all of the league's players were allowed to sign with NFL teams.

The Chiefs are giving Reaser $100,000 up front in the form of a $50,000 signing bonus, a $25,000 workout bonus and a $25,000 roster bonus, the source told Schefter.

Reaser had played for the league-best Orlando Apollos and made three interceptions and 12 tackles in the eight-game season.

Reaser, a fifth-round pick of the San Francisco 49ers in 2014, previously spent time with the Chiefs in 2017-18 and played in one game for the team before being released last September.

He appeared in 29 NFL games with the Niners from 2015-17.