Seattle Seahawks fans won’t be experiencing any sleepless nights for the rest of the NFL offseason.
Geno Smith is staying put in the Emerald City after a breakout year in 2022. The 32-year-old quarterback led the league with a 69.8 percent completion percentage while throwing for 4,282 yards, 30 touchdowns and only 11 interceptions. Turnovers previously plagued the well-traveled signal-caller before carving out a role behind Russell Wilson.
When Seattle dealt Wilson to the Broncos last offseason, it was Smith’s chance to lock down a starting gig for the first time in over six years. He responded by winning the Comeback Player of the Year award, earning a Pro Bowl selection and leading the Seahawks to the playoffs in what many expected to be a rebuilding year.
While Wilson fizzled out in Denver, Smith thrived in Seattle — which resulted in the team awarding him with a new contract extension.
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Here’s what you need to know about Smith’s contract with the Seahawks.
Geno Smith contract details
Smith will sign a three-year, $105 million contract with Seattle, according to NFL Network’s Ian Rapoport.
It’s a 3-year deal worth $105M for Geno Smith, source said. The deal is now done and agreed. https://t.co/EF0GLH768V
— Ian Rapoport (@RapSheet) March 6, 2023
The new deal could pay Smith up to $52 million in year one, according to theScore’s Jordan Schultz.
Breaking: Geno Smith and the #Seahawks are finalizing a three-year contract extension worth $105M with the ability to earn $52M in the first calendar year, sources tell @theScore.
Smith earned Comeback Player of the Year and Pro Bowl honors after leading the NFL in completion %. pic.twitter.com/RbMMXJ6Uke
— Jordan Schultz (@Schultz_Report) March 6, 2023
It’s been a wild ride for the former Jets quarterback, who only earned $17.55 million through the first 10 seasons of his career. This new contract will pay Smith an average of $35 million per year.
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The deal ensures that Smith will no longer be testing free agency when the new league year begins next week. His average annual value (AAV) will slot in just behind the deal that Derek Carr signed with the Saints earlier Monday worth $37.5 million per year. Smith’s deal will put him right on the cusp of the league’s 10 highest-paid quarterbacks, alongside fellow NFC quarterbacks like Kirk Cousins ($35 million AAV) and Jared Goff ($33.5 million AAV).
Seattle still has not ruled out drafting a quarterback with the fifth overall pick in the 2023 NFL Draft, which makes the contract length on Smith’s deal something to monitor. With teams being able to keep first-round quarterbacks on their roster below market value for five years, the Seahawks could still opt to draft a new signal-caller while letting them learn behind Smith for a few years.
By keeping the length to a minimum, Seattle was able to maintain long-term flexibility in the event that 2022 was an anomaly for Smith. If he keeps up the same or better level of play, then the Seahawks are getting incredible value out of the most important position in sports. If he doesn’t, then it won’t be long before the team can move on. It’s a calculated risk in avoiding the franchise tag for what could end up being a one-year wonder.
“They wrote me off, but I ain’t write back.” 🔥
Geno Smith feeling himself
(via @NFL)pic.twitter.com/VkHKtnK8l2
— Bleacher Report (@BleacherReport) September 13, 2022
Only time will tell, but one thing is for certain. When he signs his name on the dotted line, we can consider that to be Smith finally writing back.