Last March, the Seattle Seahawks made a decisive commitment to quarterback Geno Smith, inking him to a three-year extension that pays $25 million per season. The deal includes $40 million fully guaranteed, reflecting the franchise's confidence in Smith's capabilities.
Smith's contract situates him as the 20th highest-paid quarterback in the NFL when considering average annual value (AAV), which underscores the team's careful investment approach. In a competitive market for top-tier quarterback talent, Seattle's choice to lock in Smith was strategic, driven by his recent performance metrics and leadership on the field.
The Financial Chessboard
For the 2024 season, the Seahawks made the decision to retain Smith, securing his services by guaranteeing $12.7 million. This move meant forgoing a $14 million potential cap savings had they opted to release him. By choosing to keep Smith, Seattle demonstrated their prioritization of stability and continuity at the quarterback position over immediate financial relief.
The Seahawks also made notable shifts in their quarterback room by trading for Sam Howell and signing PJ Walker, rather than selecting a quarterback in the draft. This strategy indicates their intent to support Smith with experienced depth rather than grooming a rookie.
Performance On the Field
Smith's stats from the 2022 season were nothing short of impressive. Leading the league with a 69.8% completion rate, he threw for 4,282 yards, 30 touchdowns, and 11 interceptions. His performance was instrumental in guiding the Seahawks to a 9-8 record and a playoff berth, earning him a well-deserved spot in the Pro Bowl.
In the 2023 season, Smith continued to demonstrate his prowess, amassing 3,624 passing yards, 20 touchdowns, and 9 interceptions. This performance led the Seahawks to an 8-7 record and secured him another Pro Bowl selection. These back-to-back Pro Bowl honors underscore a level of consistency and excellence that the Seahawks surely value.
Challenges and Forecasts
Smith, who is nearing his 34th birthday, remains optimistic about his growth. "Still getting better," he remarked, hinting at his commitment to continuous improvement. However, Seattle faces significant financial challenges moving forward. According to OverTheCap.com, the Seahawks are projected to be $25.6 million over the salary cap for 2025. This looming cap issue casts a shadow over future roster decisions and necessitates creative financial maneuvering.
One proposed remedy is crafting an incentive package for Smith in the upcoming year, which could potentially alleviate some immediate cap pressures while aligning his compensation more closely with performance metrics. This idea reflects a proactive approach that balances fiscal responsibility with player retention.
Adding to the complexity is the Seahawks' expected position in the 2025 draft, where sportsbook odds project them to hold the 11th overall pick. This scenario presents both an opportunity and a challenge, as high draft picks can be leveraged to obtain elite talent but also come with substantial financial commitments.
Looking Ahead
The sentiment from the author of the original analysis was clear: "Let's meet at the negotiating table next year." This encapsulates the ongoing dialogue between Smith and the Seahawks, as both parties navigate a landscape filled with potential and pitfalls. The coming months will undoubtedly feature key negotiations and strategic decisions as Seattle aims to maintain competitiveness in a fiercely contested league.
The Seahawks' commitment to Geno Smith reflects a broader strategy of stability and incremental growth. As they manage their cap space and performance expectations, the interplay between financial strategy and on-field success will be critical. Smith's ongoing evolution as a quarterback will remain a central focus, offering both hope and performance benchmarks for Seattle's aspirations.