When the Raiders traded for Geno Smith, there were a number of reports suggesting the veteran quarterback would get a contract extension from the Raiders much sooner than later.
March 16 was the originally reported date the sides were looking to have a deal done by and the Las Vegas Review-Journal’s Vinny Bonsignore said two week ago that he thought a deal would be done by last week.
It’s fair to wonder what might be slowing down the process and Sports Illustrated insider Albert Breer addressed the situation in a column last week.
“I don’t think there’s a holdup. It’s more of just negotiation,” Breer said.
“I also don’t think the Las Vegas Raiders move to land Smith without a strong feeling they could find common ground on an extension. The Seattle Seahawks, for their part, felt like they were doing Smith a favor with the trade in that Vegas had a better shot at doing a contract with him than Seattle did (they were far apart on the numbers at the end). But if you make me guess, I’d say the guarantees are probably what needs to be worked out.”
The messaging from everywhere around the situation is that there is no panic from the team or Smith, but the longer the anticipated extension doesn’t happen, the curiosity is only going to intensify.
This week at the owner’s meetings, Raiders GM John Spytek said he believes a deal will get done “fairly soon” and added that Smith is part of the team’s plan at quarterback beyond the 2025 season.
“We really look forward to having him not just this year, but for the years to come,” Spytek said on Monday.
But actions speak louder than words and until a deal is done, it’s reasonable to believe the Raiders might prefer to take Smith’s contract a year at a time.
That was the argument made in a column this week citing an NFL executive.
“They can franchise [Geno Smith] twice, so why would they lock themselves into him unnecessarily?” an anonymous NFL executive told The Athletic. “Tom Brady is not going to rip it up and give him $45 million a year. They should go year to year.”
From a business standpoint, the Raiders have definitely been structuring deals with an emphasis on their salary cap beyond the 2025 season and they might not be interested in making a huge financial commitment to Smith behind this year.
The franchise tag is there if the Raiders decide Smith might be the next Rich Gannon, but until that happens it’s possible the team will continue to drag out negotiations – or at least until they can get a team-friendly deal beyond the 2025 season.
x: @raidersbeat
Hoping they gave up an extra third round pick for a one year lease. he got a $17 million bonus March 1. He’s making 31 million this season. Don’t pay him another dime. Build the offensive line and if he holds out, let O’Connell have a full season under center. Maybe Chip can put something together that AOC can run. Poor guy has had three systems in three years. and an offensive line that has been horrid.
I don’t agree. Smith is the first 30 win (the last three seasons), uninjured, hand picked by our first SB winning HC since Chucky, veteran QB since Gannon. I think we get a reasonable deal done with him that accounts for both Pete and Spytek’s expectations post 2025 as soon as is comfortable for the Raiders and Smith. As they say the marriage between QB and HC is essential to winning. So…happy wife, happy life.
Yeah, they just need to get to an agreement. Aside from shooting themselves in the foot, the Raiders would look like screw-ups again if they have away not insignificant draft capital for a guy everyone knew wanted and expected an extension. They just need to agree to a number
I think this is one of those contracts the principal parties are not too worried about. Seems like the press, or “insiders” have the bigger issue since “they”, not the Raiders, not Geno, kept reporting BS to the Nation. I wouldn’t be surprised if the numbers are in place, but what is to be gained by making all these formal announcements in April?
The current franchise tag for QBs is $40.25M… Next years cap # will undoubtably go up.. So why would it be a big deal to extend Geno now at say 2 years/$45M per rather than piss him off by making him play on the last year of his current contract, then tag him for likely $45M anyway in a year? Yes, there would be a savings on paper of $14M this year, but IMO there’s no way this trade would have been done if the Raiders hadn’t indicated they would rework his contract since Seattle could have done the same thing.. They failed to reach a deal and some think Geno didn’t take what they offered to force a trade to Carroll and the Raiders.. Seattle tried to keep him, offering at least $4OM for 2 years according to them… If the Raiders traded for him dangling the prospect of a new deal exceeding that, then pulled the rug, that would be a disastrous Reggie Mac/Gruden like blunder.. That would be the same old Raiders of the last 20 years.. I look for something to get done before the draft.. Carroll was said to specifically prefer Geno to any of the rookies..
Franchise tagging Geno even once would be “locking themselves into him” for at least two years.. Tagging him twice would mean 3 years.. This supposed anonymous NFL exec is either a fired former exec or soon will be if that is his idea of a smart move…