Seattle Seahawks quarterback Geno Smith. Cary Edmondson-USA TODAY Sports

Is the franchise tag an option for Seahawks and Geno Smith?

By Michael Gallagher | Last updated 1/31/23

There’s no question the Seattle Seahawks would like to bring back quarterback Geno Smith in 2023.

But after the NFL revealed positional salaries for players hit with the franchise tag on Monday, the team has to decide how big of a financial commitment it wants to make to the 32-year-old Pro Bowl quarterback.

Smith has been reported to be seeking a multi-year contract worth approximately $30 million per season. It will cost Seattle $32.146 million to put a non-exclusive tender on Smith, which would allow him to negotiate with other teams as well, and it’ll cost $45.45 million to put an exclusive rights tender on him, taking away the possibility of another team offering him a contract.

$32 million/yr for Geno is 14% of salary cap in 2023. That’s really not terrible if non-exclusive franchise tag is needed. #Seahawks

I gave my reasoning for a three-year deal worth $80-90 mil with 65 mil guaranteed on Seattle Sports Live last night: https://t.co/oqbqQjwvH0 https://t.co/g2KfHMLcxN
— Aaron Levine (@AaronLevine_) January 30, 2023

With the salary cap going up to $224.8 million, the Seahawks has the seventh-most cap space of any team next season ($31.04 million), and they could create even more flexibility with a few contract restructures and roster cuts.

And while Smith had a season for the record books—4,282 yards, 30 touchdowns, 11 interceptions, 69.8 completion percentage, 100.9 passer rating—Seattle has to decide if its willing to devote a large chunk of its 2023 salary cap and beyond to a quarterback who didn’t have his breakout year until age 32.

https://t.co/QjR8dMrhd1
— Geno (@GenoSmith3) January 30, 2023

The Seahawks could save their money and draft a quarterback with the No. 5 pick in April’s draft, or they could sign Smith to a long-term deal and lessen his immediate cap hit with signing bonuses and performance incentives.

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