The Geno Smith contract had been expected but the Seahawks have locked up their quarterback without having to franchise tag him.
After Geno Smith quickly shed the stopgap label as the starting quarterback for the Seattle Seahawks in a post-Russell Wilson world, all indications were that the franchise wanted him back. The only question was if they’d be able to work out a long-term contract or if the franchise tag would be used.
With the tag deadline approaching, we got our answer on Monday. And it’s a new Geno Smith contract that is about to be hot off the presses.
As reported by NFL insiders Ian Rapoport and Tom Pelissero, the Seahawks have locked up the 2022 NFL Comeback Player of the Year to a three-year contract that will keep the quarterback in Seattle through the end of the 2025 season. This comes after Smith led the team to the playoffs while throwing for a 4,282 yards and 30 touchdowns with a 69.8% completion rate, all of which were career highs.
Geno Smith contract: Details on Seahawks deal with QB
Per the reports, the contract for Smith is a three-year, $105 million, making the annual average value of the deal $35 million.
Jordan Schultz of The Score was first to report that Smith’s contract will have almost half of the value coming off of the books in year one with the quarterback making $52 million for the 2023 season. That’s something that could have serious cap implications for this season with the Seahawks.
Seahawks cap space after Geno Smith contract
Prior to the news of the Smith contract, the Seahawks were projected to have about $23 million in cap space, per Over the Cap. Smith’s deal going on the books for $52 million in the first season really makes for some things that need to happen this offseason to clear some cap space.
If that’s not the case, though, Seattle could look to save money against the cap with some restructures and perhaps salary-cutting cuts. Cutting Shelby Harris and Al Woods would free up north of $12 million with $6.5 million in dead cap while restructuring the deals of Jamal Adams, Quandre Diggs and Tyler Lockett would free up over $5.6 million apiece.
In any case, the Smith deal doesn’t preclude the Seahawks from still making more moves this offseason — you know, like bringing back a longtime defensive star to the fold.
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