Geno Smith Contract Break: Could His Next Contract Be For Top-10 QB Money?

Geno Smith contract: When the Seahawks re-signed veteran quarterback Geno Smith to compete with Drew Lock for the team’s starting job in the 2022 NFL offseason, many NFL observers found the move confusing. Smith, 32, has been with the Seahawks since 2019, but has not started a game since his first few NFL seasons with the Jets.

His first job in New York was quickly lost and he has been a professional backup ever since. However, Seattle appreciated something about Smith and decided to invest in him. Those expenses were profitable. One of the biggest surprises of the NFL season was Smith.

The Seahawks, who many predicted would be a bottom-feeder in 2022, are vying for a postseason spot in Week 18 due to its Pro Bowl-caliber play. Smith’s short-term contract with the Seahawks is a bargain right now. They’ve practically paid pennies for his performance, but as the end of the season approaches, Smith is closing in on some key goals.

In addition, that performance will increase his earnings under his incentive-based contract. Details of Smith’s current contract are included below, along with an explanation of why he believes Seattle’s playoff participation is paramount.

Geno Smith contract

Smith was a free agent during the 2022 NFL offseason, but he chose to sign a one-year contract with a base value of $3.5 million with the Seahawks. As Smith was expected to compete for the starting position in Seattle, this was a significant increase from the $1.2 million he earned during the 2021 season.

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Naturally, Smith had a lot of incentives built into the deal as he was competing to be the starter. As a result, even though the contract only included $500,000 in guarantees, he will end up earning more than the base value of the contract. Still, Smith’s contract, which has a potential $6 million value, is one of the lowest starting salaries in the NFL.

Geno Smith contract incentives

Like most NFL contracts, Smith’s contract included many incentives. According to Spotrac.com, these bonuses will make up the bulk of Smith’s salary for the 2022 campaign. With Seattle’s victory over the Jets in Week 17, Smith secured one of his major rewards, a $1 million bonus.

Although he only completed 183 strides in that game, he still passed for over 4,000 yards, which the Seahawks labeled as his highest distance bonus for 2022. Three-quarters of that amount had already been collected by Smith thanks to the incentive design. which earned him $250,000 for reaching 3,400 passing yards and another $500,000 for reaching 3,700.

The last leg of the incentive, which brought his total earnings to $1 million, was on the 4,000. Smith also received a $500,000 bonus for making the Pro Bowl and completing 20 or more touchdown touchdowns. In addition, he will receive a total of $1.105 million in active roster bonuses per game, and his contract includes a $585,000 Week 1 bonus.

There is only one incentive from Smith and it is not fully deserved. He has participated in at least 85% of the club’s offensive snaps, earning him a $1 million incentive. However, if his team records 10 wins or progresses through the playoffs, his fee will increase to $2 million.

4TH DOWN MAGIC OF GENO! #Sea hawks

📺: #SEAvsTB On @NFLNetwork
📱: Stream on NFL+ https://t.co/M32DOvVALd pic.twitter.com/WxZPF9Wbpu

— NFL (@NFL) November 13, 2022

Seattle won’t have a 10-win team in the regular season at 8-8, but a win in Week 18 could give the Seahawks a shot at advancing to the postseason. So Smith will have a lot on the line in that game.

Smith has also received bonuses totaling $4.19 million to date. The base value of his $3.5 million deal included some of these bonuses since they were “probably deserved.” Others, on the other hand — including his $2.5 million combined game time bonus, Pro Bowl, and yard throwing incentives — are extra.

In either case, Smith has done well for himself, and as the season comes to a close, he will have the opportunity to increase his already excellent incentive total.

Seahawks Playoff Odds

How likely is it that Smith will get his final reward? The Seahawks are predicted to have a 21% chance of making the playoffs FiveThirtyEight. To qualify for the postseason, they must beat the Rams and let the Lions beat or tie the Packers in Week 18. As a result, Smith will have to work hard to earn the extra $1 million, but a win against the Rams would at least give him a chance.

Closing

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