In a decisive move back in March, the Seattle Seahawks showcased their commitment to quarterback Geno Smith by inking a three-year extension worth $25 million per season, with a robust $40 million guaranteed. This contract positions Smith as the 20th highest-paid quarterback in the NFL in terms of average annual value (AAV).
Continuing Faith in Smith
The Seahawks’ decision to hold onto Smith for the 2024 season came with a hefty guarantee of $12.7 million. This choice meant sidestepping a potential cap savings of $14 million had they released him. This significant financial commitment underscores the organization's faith in Smith's abilities and leadership on and off the field.
Opting to bypass a fresh selection of a quarterback in the recent draft, Seattle instead traded for Sam Howell and signed PJ Walker. This move signals the team's strategic efforts to bolster their quarterback lineup while keeping Smith at the helm.
Performance on the Field
Smith’s career with Seattle has been marked by notable performances. In the 2022 season, he led the league with an impressive 69.8% completion rate, amassing 4,282 yards, 30 touchdowns, and 11 interceptions. Under his guidance, the Seahawks achieved a 9-8 record and secured a playoff berth, earning Smith a spot in the Pro Bowl.
The following 2023 season saw Smith throwing for 3,624 yards, 20 touchdowns, and 9 interceptions. His leadership led to a respectable 8-7 record and once again Pro Bowl honors, reinforcing his critics who say he’s "still getting better."
Financial and Future Considerations
Despite the Seahawks' confidence in Smith, their current fiscal situation presents challenges. Seattle is projected to be $25.6 million over the salary cap for 2025, according to OverTheCap.com. This financial strain has spurred discussions of potential solutions, including crafting an incentive package for Smith to ameliorate cap woes.
Looking further ahead, the Seahawks are projected to have the 11th overall pick in the 2025 draft according to sportsbook odds. This strategic positioning in the draft could provide Seattle with opportunities to address other roster needs.
Smith, nearing his 34th birthday, remains a pivotal figure in the Seahawks' immediate plans. The sentiment of meeting at the negotiating table next year hints at the ongoing evaluation of his contributions and the future financial strategies surrounding him and the team.
As the Seahawks navigate the intricacies of player contracts and salary cap management, the faith in Smith shows a commitment to stability and performance, aiming to maximize the team’s competitive edge in the seasons to come.