Last March, the Seattle Seahawks made a decisive move to solidify their quarterback position by committing to Geno Smith with a three-year contract extension worth $25 million per season. This deal, which includes $40 million guaranteed, signals the franchise's confidence in Smith's abilities as their starting quarterback.
Smith currently ranks as the 20th highest-paid quarterback in the NFL in terms of average annual value (AAV). This position in the salary hierarchy reflects the organization's belief in his potential to lead the team effectively. Furthermore, the Seahawks have guaranteed $12.7 million to ensure Smith stays on the roster for the 2024 season. This decision came despite the option to release him for a $14 million cap saving, underscoring their commitment to maintaining stability at the quarter’s back position.
A Strategic Bet
Seattle's strategy extended beyond financial commitments. They chose not to draft a quarterback, instead opting for a trade to acquire Sam Howell and signing PJ Walker. These moves suggest a strategic decision to surround Smith with capable backups while avoiding the uncertainty of a rookie quarterback.
Smith’s performance in recent seasons justifies this confidence. In the 2022 season, he led the league with a 69.8% completion rate, throwing for 4,282 yards, 30 touchdowns, and 11 interceptions. His efforts guided the Seahawks to a 9-8 record and a playoff berth, earning him a spot in the Pro Bowl.
Consistency and Performance
The following season in 2023, Smith continued to demonstrate his abilities by throwing for 3,624 yards, 20 touchdowns, and 9 interceptions. Despite some regression in stats, he still managed to secure an 8-7 record and another Pro Bowl selection. Smith's consistent performances have fortified his position within the team.
As Smith approaches his 34th birthday, he remains optimistic about his development, stating, "Still getting better." This sentiment resonates with the organization's belief in his potential and their willingness to invest in his future with the team.
Financial Challenges Ahead
However, the Seahawks face significant financial challenges. They are projected to be $25.6 million over the salary cap for the 2025 season, according to OverTheCap.com. This looming financial crunch prompts discussions within the organization about possible solutions, including crafting an incentive package for Smith to align his pay with team performance and cap space management.
Despite these challenges, the Seahawks hold the 11th overall pick in the 2025 draft, as projected by sportsbook odds. This position gives them an opportunity to address other critical areas of the roster and continue to build a competitive team around Smith.
The sentiment of the article's author encapsulates the current state of affairs succinctly with, "Let's meet at the negotiating table next year." This outlook speaks to the ongoing dialogues and negotiations that are likely to shape the Seahawks' future strategies both on and off the field. As they navigate the complexities of roster management and salary cap limitations, the team's commitment to Geno Smith stands as a cornerstone of their current and future ambitions.