Last March, the Seattle Seahawks demonstrated their faith in quarterback Geno Smith, rewarding him with a significant three-year contract extension. Worth $25 million per season, with $40 million fully guaranteed, the deal emphasized the team's commitment to the seasoned quarterback. This contract places Smith as the 20th highest-paid quarterback in the NFL in terms of average annual value (AAV), a reflection of his consistent performance and potential.
Smith, who will soon celebrate his 34th birthday, has evidently proven his mettle. Over the past two seasons, his resurgence in form has been noteworthy. During the 2022 season, Smith's leadership and precision were instrumental in propelling the Seahawks to a 9-8 record and a playoff berth. His standout statistics - a league-leading 69.8% completion rate, 4,282 passing yards, 30 touchdowns, and 11 interceptions - earned him a well-deserved spot in the Pro Bowl.
The following year, Smith continued to showcase his prowess. Recording 3,624 yards, 20 touchdowns, and only 9 interceptions in the 2023 season, Smith once again led the Seahawks to notable success, finishing with an 8-7 record and securing another Pro Bowl appearance. "Still getting better," Smith attested, highlighting his undeterred drive to improve and lead his team.
In a calculated decision this offseason, the Seahawks chose to retain Smith for the upcoming 2024 season. This retention guarantees Smith $12.7 million, a move that came at the cost of a potential $14 million cap savings had the team opted to release him. The Seahawks' front office decided against selecting a quarterback in the draft and instead bolstered their quarterback room by trading for Sam Howell and signing PJ Walker. This strategy indicates a clear preference for experienced talent to back up Smith rather than investing in an unproven rookie.
However, financial challenges loom large for Seattle. The team is currently $25.6 million over the salary cap for the 2025 season as per OverTheCap.com, a situation that requires astute financial maneuvering. There has been talk of crafting an incentive package for Smith this year to alleviate some of the financial pressure. Such a package could potentially align Smith’s earnings with performance metrics, ensuring that both the player and the team's financial health are safeguarded.
Looking forward, the Seahawks hold the 11th overall pick in the 2025 draft according to sportsbook odds. This position gives them a valuable opportunity to secure much-needed talent and potentially address any roster gaps that could arise by then. Despite financial hurdles, the sentiment remains optimistic in Seattle's camp.
The 2024 season will be pivotal for Geno Smith and the Seahawks. Success on the field could very well set the stage for renegotiations, with the team likely keen to meet at the negotiating table next year to secure Smith's services for the longer term. The quarterback’s determination and past performances position him as a crucial asset for Seattle's ambitions. As the team navigates its financial constraints and strategizes for future drafts, Geno Smith's journey with the Seahawks remains a narrative filled with potential and promise.