Seahawks' Geno Smith: What Will Free Agency Contract Extension Cost?
Seattle Seahawks quarterback Geno Smith rose to stardom this season after signing a $3.5 million deal last offseason - but after earning his first Pro Bowl nod, he's in line for a considerable pay raise in the coming weeks.
The Seahawks first have to decide whether they'll give Smith a long-term extension or simply use the franchise tag, which is set to cost $32.4 million.
The initial indication from Seattle is that extending Smith takes top priority - but what could that look like?
Here are two projections ...
Pro Football Focus
Contract: Four years, $150 million ($37.5 million/year), $112.5 million guaranteed
Smith was ranked as the No. 2 free agent league wide by PFF and all signs point to him being re-signed by the Seahawks - at a heightened price.
A nine-year veteran, Smith would be more than doubling his career earnings with this deal, which PFF believes could alter the way contract negotiations unfold.
We modeled our contract projection for Smith off Tennessee Titans quarterback Ryan Tannehill’s extension signed in 2020 — adjusted for salary cap inflation — as the two were similar ages coming off a bounce-back season after a career downturn. This may be too bullish for a few reasons, one primary one being Tannehill had roughly $77 million in career earnings before his extension and Smith has around $17 million right now.
This leverage could provide a greater incentive for Smith to take a team-friendly deal, as he would still likely more than double his career earnings within a month of signing just via the signing bonus alone. - PFF's Brad Spielberger
Tannehill earned a four-year, $118 million deal after a similar resurgence in Tennessee following the 2018 season, but times have changed in the quarterback market and Smith is in line to capitalize ... at least per PFF.
Spotrac
Contract: Two years, $78.6 million ($39.3 million/year)
Smith, who was recently named NFL Comeback Player of the Year, was given a shorter but more financially prosperous projection via Spotrac, earning $1.8 million more per year than the one delivered by PFF.
Largely regarded within the league as one of the most trustworthy contract sites around, Spotrac opted to give Smith fewer years, which seems to be a smart strategy considering he's never had a season like the one he's coming off of.
However, it takes two to tango, and for the 32-year-old Smith, getting a longer contract may be more appealing than more average annual value over a shorter time.
As such, the exact length for Smith's impending deal will be a topic of conversation until pen meets paper ... but he certainly seems like to get something in the mid-to-high $30 million per year range.
You can follow Daniel Flick on Twitter @DFlickDraft
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