Big day for former Seattle Seahawks quarterback Geno Smith, as he hit the jackpot in Las Vegas. A little under a month after the Seahawks traded Smith to the Raiders in exchange for a third round pick, his new team has given him the contract he was seeking. Smith has agreed to sign a two-year contract worth up to $88.5 million, with $66.5 million fully guaranteed.
This is largely in line with what Over The Cap was predicting for the two-time Pro Bowl quarterback.
There are a few thoughts that immediately come to mind upon reading this news:
First off, good for Geno! It is not often a player at age 34 (will turn 35 in October) will get a shot at one last mega-payday. It's even rarer for a player to even get an opportunity to ask for a payday when he was pigeonholed as a backup for so many years. Smith battled through plenty of adversity, overcame many narratives about him, proved he is a starting caliber quarterback in this league, and earned generational wealth as a result. Truly, good for him!
Second thought: the Sam Darnold contract is looking like even more of a bargain for the Seahawks. Darnold was given a three-year deal worth up to $100.5 million, but in reality, it's a one-year deal worth $37.5 million that Seattle can get out of at the conclusion of this coming season. If we're going off the $75 million number, then Smith will also be getting $37.5 million a year, like Darnold.
If we're going off the $85.5 million it maxes out at, Smith will be paid more at $42.75 million. Essentially, Seattle will end up paying the same rate or - significantly less - for a quarterback eight years younger. The savings would continue in a considerable way if Darnold is on the roster for the 2026 season, as his salary will only max out at $27.5 million. Again, a major discount for the Seahawks.
The final thought I have is it's pretty clear Geno Smith wanted out of Seattle, no matter what. Seahawks general manager John Schneider said the team offered Smith a two-year extension that would have paid him anywhere between $40-$45 million per year, which is exactly what he was seeking. After they submitted their offer to Smith, they received no counter offer, but instead got a trade request.
What did Smith end up getting in Las Vegas? A two-year deal that's... going to pay him out a maximum of $42 million per year, for the same amount of years as what Seattle reportedly offered him. Granted, we don't know exactly what was in the fine print from the Seahawks' offer. Perhaps their contract offered less security than what the Raiders will give him. Judging by how easily the team can get out of Darnold's deal does make this plausible. But the fact Smith's base payment in 2025 looks to be the same as what Darnold will be getting further supports the idea he wanted out.
Maybe Seattle wasn't going to give as much in guarantees as he was hoping. Maybe Smith wanted to reunite with his former head coach in Pete Carroll. Perhaps it's a combination of the two. Whatever the reason (or reasons) might be, what's done is done. This was the final domino to fall to officially tie a bow on this separation. Smith has his money, the Raiders and Seahawks have their quarterbacks, and everyone is moving forward into a new era.
