Seahawks restructure QB Geno Smith’s contract, create $4.8M in cap space

National Football League

Published Feb. 23, 2024 1:53 p.m. ET

The Seattle Seahawks have restructured quarterback Geno Smith‘s contract for the 2024 NFL season, turning a $9.6 million roster bonus into a signing bonus to create $4.8 million in cap space this offseason, ESPN reported Thursday.

The restructured deal also raises Smith’s cap hit to $38.5 million for 2025.

Smith just finished the first season of a three-year, $75 million deal.

After a breakout season in 2022 in which Smith threw for a career-high 4,282 yards and 30 touchdowns and tallied an NFL-high 69.8 completion percentage, the 33-year-old signal-caller tailed off in 2023. He finished this past regular season with 3,624 passing yards, 20 passing scores, nine interceptions and a 92.1 passer rating, while completing just 64.7% of his passes in 15 starts. The Seahawks went 9-8 for a second consecutive season and missed the playoffs.

Seattle fired head coach Pete Carroll and have hired former Baltimore defensive coordinator Mike Macdonald as his replacement.

Smith, who was selected in the second round of the 2013 NFL Draft by the New York Jets, spent four seasons with Gang Green before having one-year stints with the New York Giants (2017) and the then-San Diego Chargers (2018). He joined the Seahawks in 2019, serving as Russell Wilson‘s backup across his first three seasons with the Seahawks before beating out Drew Lock for the starting job in 2022 in what was the team’s first season post-Wilson.

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