Geno Smith finally received his long-awaited extension on Thursday, just not from the team he originally thought he'd get it from.
Four weeks after a blockbuster trade from the Seattle Seahawks, Smith signed a two-year, $75 million extension - which can go up to $85.5 million with incentives and includes $66.5 million guaranteed - with the Las Vegas Raiders. He already had one year remaining on the deal he signed with Seattle in 2023, so he's now tied to Las Vegas through the 2027 season.
Even if it's not quite what he was reportedly asking Seattle for, Smith still earned himself a decent raise with this extension. Well, in the short term at least.
Pro Football Talk released the full details for Smith's new extension, and there are some interesting things to note.
First, Smith's compensation in 2025 will rise from $31 million to $40 million, a nice raise. In 2026, though, Smith has a base salary of $26.5 million - $18.5 million of which is fully guaranteed and the remaining $8 million is guaranteed for injury but becomes fully guaranteed on the third day of the league year. Finally in 2027, Smith will make $39.5 million in non-guaranteed salary.
Smith can also earn up to $3.5 million each year in incentives.
In total, the new deal includes $58.5 million fully guaranteed at signing, though with over two-thirds of that coming in the first year, the Raiders could feasibly move on as soon as next offseason. If Smith wants more than the $18.5 million fully guaranteed in 2026, the Raiders could instead opt to trade or cut him to save some money.
Again, it's not too different from the three-year, $100.5 million deal the Seahawks gave to Sam Darnold shortly after trading away Smith. That deal is also structured in a way that allows the team to move on after one year, with little guaranteed money beyond that. It does have slightly lower value than Smith's, but that's a good thing from Seattle's perspective.
