Geno Smith's Extension Appears to Be a Steal For Raiders

Purdy agreed to a five-year, $265 million contract extension that is set to begin in 2026 per Tom Pelissero.

"Purdy gets $181M in total guarantees," wrote Pelissero. "Including $165.05M in the first three new years of a deal that runs through 2030."

Purdy's deal makes him tied for being the seventh highest paid quarterback in the NFL in terms of average annual value with Detroit Lions gunslinger Jared Goff.

"49ers underwent major changes this offseason, moving on from several key players," wrote ESPN's Adam Schefter. "All with the understanding that they’d soon be paying Brock Purdy a massive contract after having the best bargain in football the past three years."

"Now it’s official: Purdy gets five years, $265 million, including $181 million guaranteed."

The 49ers said goodbye to several veteran players, including Dre Greenlaw, Talanoa Hufanga, Deebo Samuel, Jordan Mason, Aaron Banks, and others this offseason, helping facilitate the signing.

Purdy's average annual value is $53 million. There are two quarterback markets: the ones that reset the top number and the above average/ veteran market. That market has a roof of $53 million per season, a number some quarterback will break through in the next few years.

By signing new quarterback Geno Smith to a two-year, $75 million extension, the Raiders have a quarterback whose cap hit over the next three seasons (including 2025) will be between $25-$40 million.

In comparison, while we don't know how the 49ers will move Purdy's cap hit around, we do know that its average of $53 million is at the very least $13 million more per season than Smith's.

That $13 million covers signing a draft class or at least a large share of it. That's more money to commit to re-signing players or going after big time free agents.

Another brilliant piece of business by John Spytek. Plus, Smith doesn't have any void years, so once his contract expires, that's it for the Raiders' current financial commitment to him.

So, unlike the 49ers, who have been forced to say goodbye to a critical piece of their team, it seems like every season since 2019, the Raiders may have enough cap to keep their team together.

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