Geno Smith’s contract extension last year with the Seattle Seahawks was considered a win/win, if not a team friendly deal.
Well, fortunately for the Seahawks and unfortunately for Smith, it just became even more favorable to Seattle.
Smith had five $2 million incentive escalators, which would kick in next year if he hit those stats this season.
He did not.
Each one of the incentives was as simple as matching or beating the marks he achieved in 2022. Passing yards, TD passes, completion percentage, passer rating, and 10 wins (or playoffs).
While Geno did do the one thing many analysts wondered about – reduce interceptions – and even more surprisingly did something nobody thought to wonder about – set the NFL record for game-winning drives, he failed to improve on the five basic statistics.
The one win needed, or making the playoffs, was the closest of the bunch.
Smith had $27.3 million guaranteed at signing, and has a $17 million dead cap hit next year. Not hitting any of the contract bonuses while definitely not being the problem with this team, actually means the likelihood of Seattle holding on to him has increased. If roughly $10m had been added to his guaranteed money unless the team cut him by the fifth day of the league year, that would certainly weigh into the Future Of The Seahawks conversations in a different light.
At this point, Smith has no more guaranteed money. His $12.7m 2024 roster salary will kick in on February 16 if he is still rostered.
