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Preston Smith Signs Contract Extension with Packers

The win-win agreement locks up outside linebacker Preston Smith beyond the 2022 season while helping the salary cap immediately.
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GREEN BAY, Wis. – Preston Smith signed a contract extension with the Green Bay Packers on Monday morning, a win-win deal for the team and veteran outside linebacker.

The contract locks up Smith, who was set to enter his final season under contract, through the 2026 season. According to NFL Network and confirmed by a source, the extension is for four seasons and $52.5 million. Including the remaining year of his previous contract, the contract is worth $65 million.

At the same time, it will reduce his 2022 cap charge, which was set to be about $19.72 million, by a little more than $8 million, according to a source. That was accomplished with guaranteed money in Year 2, something the team has generally shied away from.

As was the case with his 2021 restructure, there are incentives in the deal that could push the total value beyond $70 million. For instance, in 2022, a 10-sack season would mean $1 million, a 12-sack season would mean an additional $1 million (cumulative of $2 million) and a 14-sack season would mean an additional $2 million (cumulative of $4 million).

The Packers started the day, the unofficial start of free agency, about $43.8 million over the cap. The release of fellow outside linebacker Za’Darius Smith took care of close to 55 percent of that amount.

The agreement was not unexpected. While he has been noncommittal about Za’Darius Smith, general manager Brian Gutekunst delivered a strong endorsement for Preston Smith at the Scouting Combine.

“I think when you look at that, you’re looking at some stats,” Gutekunst said of Smith going from four sacks in Washington in 2018 to 12 with Green Bay in 2019, to four in 2020 and back to nine in 2021. “If you really look at Preston, he’s been pretty consistent throughout his career. I think he’s missed one game, and that was the one he missed this year. He shows up and he’s been a playmaker throughout his career.

“I know the sack numbers have gone up and down, but if you really look at how he’s played and specifically because he’s so versatile, what we’ve asked him to do at different times, he’s a rock-solid player. He’s very unique with his versatility, which is obviously something you guys know we like quite a bit, and we’d certainly like to keep Preston around.”

Last offseason, following a season of only four sacks, there was speculation that Smith would be a cap-saving cut. Instead, the Packers and Smith agreed to an incentives-laden restructure. Smith went from four sacks to nine and, according to Pro Football Focus, 26 pressures to a career-high 62.

Of 61 edge defenders with at least 300 pass rushes, the 29-year-old ranked 10th in pressures and 12th in pass-rush win rate, according to PFF.

“I just think it comes down to being in position to make plays. That’s what it comes down to,” Smith said in January. “This year, I’ve been in a lot of positions to make plays and I’ve capitalized on those opportunities. We’ve got a lot of great guys around here who helped put me in position to make plays. I just go out there each and every week to try to do my best to produce for this team and to go out there and make plays to help this defense out and to do my best to produce for this team and help us play at a high level.”

Defensive coordinator Joe Barry held that same title in Washington in 2015, when Smith was a second-round pick. Smith had an understated role in the transition, with Barry’s undermanned defenses ranking among the worst in the NFL during stints in Washington and Detroit.

“I knew him when he was a little snot-nosed rookie when he came into this league,” Barry said. “Preston’s got incredible, God-given ability. The thing I’m probably most proud of is how hard he’s played this year. He’s really played with really maximum effort all year long. When you have a guy that has an incredible skill-set, you have a guy that is as talented as he is, and then he goes out and plays his tail off play in and play out, the end result is usually really good.”

He also emerged from Za’Darius Smith’s shadow to take on added leadership responsibilities. When the Packers were losing at home to Chicago late in the season, it was Preston Smith who delivered the halftime message.

“It puts a smile on my face when he pulls the defense up and gives them a message, which he does quite often, and then goes and backs up what he’s said and how he’s challenged the defense. He goes out and backs it up with his play,” Barry said.

Added quarterback Aaron Rodgers, whose bond with Smith tightened in 2021.

“He’s the kind of guy, when he talks, he’s respected,” Rodgers said. “Guys listen to him and guys appreciate his messages. I love Preston. I can’t say enough good things about him. The opportunity to get to play with him, to get to become better friends with him, the messages that we share with each other during the week, I just really love the guy. I think he’s a good human, he’s a great player and I love what he brings to the team from a leadership standpoint. He’s stepped into that role even more this year and I’m very, very proud of him and proud to be his friend and proud to be his teammate.”

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