Last March, the Seattle Seahawks demonstrated their confidence in quarterback Geno Smith with a decisive move, signing him to a substantial three-year extension. With an average annual value (AAV) of $25 million, inclusive of $40 million fully guaranteed, Smith's contract placed him as the 20th highest-paid quarterback in the NFL.
Despite some financial juggling, the Seahawks chose to secure Smith for the 2024 season, affirming their faith in his abilities by guaranteeing $12.7 million to retain him on the roster. This commitment came at a significant cost, as releasing him could have provided the team with a $14 million cap savings. Seemingly unperturbed by this potential saving, Seattle decided to fully back Smith, bypassing the option to draft a new quarterback. Instead, they opted for veteran acquisitions, trading for Sam Howell and signing PJ Walker.
Smith’s Stellar 2022 Performance
Smith's contract extension was undoubtedly influenced by his exceptional performance in the 2022 season. Leading the league with a 69.8% completion rate, Smith amassed impressive statistics: 4,282 yards, 30 touchdowns, and 11 interceptions. These figures not only guided the Seahawks to a 9-8 record and a playoff berth but also earned Smith a spot in the Pro Bowl. His achievements that season cemented his reputation as a reliable and top-tier quarterback.
A Solid Follow-Up Season
In the following 2023 season, Smith continued to deliver solid performances. Throwing for 3,624 yards, 20 touchdowns, and 9 interceptions, he contributed significantly to the Seahawks' 8-7 record, securing another Pro Bowl honor. As Smith approaches his 34th birthday, his performance shows no signs of waning, encapsulated by his own sentiment of "Still getting better."
Financial Strains and Future Prospects
However, the Seahawks face financial challenges ahead. According to OverTheCap.com, Seattle is $25.6 million over the salary cap for 2025. This looming financial constraint has prompted discussions around various solutions, including the potential crafting of an incentive package for Smith this year. The team's financial maneuvers will undoubtedly play a crucial role in shaping their future roster strategies.
Adding to the complexity, Seattle is projected to have the 11th overall pick in the 2025 draft according to sportsbook odds. This draft position could be pivotal in securing fresh talent to bolster their squad, particularly in addressing any gaps or future quarterback needs.
In conclusion, the Seahawks' commitment to Geno Smith reflects a strategic balance between recognizing past performances and navigating future financial landscapes. As the team looks towards the next season, the negotiation table remains a prospect, echoing the sentiment, "Let's meet at the negotiating table next year."