One of the biggest decisions the Seattle Seahawks had to make this offseason involved quarterback Geno Smith. Smith, who signed a three-year, $75 million contract last offseason to remain in Seattle, had multiple deadlines for bonuses this offseason.
The first one was earlier in the month when his $12.7 million base salary would become guaranteed. Originally, it was only guaranteed for injury, but the Seahawks decided to let that deadline pass, guaranteeing him that money.
March 18th was the next important date for Smith, as that is when his roster bonus would have been due. However, that part of his contract has been amended as he and the Seahawks agreed to a restructure on Thursday.
Smith’s $9.6 million roster bonus, which would have come to him on March 18th, has been converted into a signing bonus. That has helped Seattle create $4.8 million in salary cap space for 2024.
That $9.6 million will now be spread out over two seasons, as his salary cap hit drops from $31.2 million to $26.4 million in 2024. While it is nice to have the extra space this year, it does come at a cost down the line, as his cap hit in 2025 has risen to $38.5 million.
The Seahawks have plenty of time to decide Smith’s roster status at that cap number, but it could signal that a quarterback change will occur sooner than later. If Smith performs at the same level in 2024 as he did in 2023, the team will look into other options under center.
After being named to the Pro Bowl and winning Comeback Player of the Year in 2022, his numbers dipped across the board in 2023. However, he did lead the league with an NFL-record seven go-ahead touchdown passes in the fourth quarter and overtime, as he showed up when the team needed him most.
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