In the 24 hours since Geno Smith’s contract extension with the Raiders was announced, the deal has become increasingly less intimidating from the standpoint of the team and their commitment to their newly acquired veteran quarterback.
After initially being reported to be a two-year, $85.5 million extension (via FOX Sports insider Jordan Schultz), it was only a matter of minutes before we learned that roughly $10 million of the deal was tied up in incentives.
In reality, it was a two-year, $75 million deal with incentives.
Now, even more details have surfaced and according to ProFootballTalk’s Mike Florio, the Raiders have the ability to get out of the deal without owing Smith more than the $40 million they will pay him in 2025.
“The contract carries $58.5 million fully guaranteed at signing. That said, the Raiders could still pull the plug (or trade the contract) after one season,” Florio reported on Thursday. “Since he presumably wouldn’t play in 2026 for total compensation of $18.5 million, the Raiders could ultimately owe him nothing beyond the $40 million he’ll make in 2025.”
The Seahawks can get out of the Darnold’s deal after one year and $37.5 million, and according to Florio, Smith’s deal includes $3.5 million each year in incentives. It still has not been reported what those incentives look like.
“In 2026, Smith has a base salary of $26.5 million. Of that amount, $18.5 million is fully guaranteed at signing,” Florio added. “The remaining $8 million is guaranteed for injury; it becomes fully guaranteed on the third day of the 2026 league year.”
Florio called the third year of Smith’s contract a “team-held option” where he’ll be due a non-guaranteed salary of $39.5 million.
In the end, there are a lot of similarities between the deals that Darnold and Smith signed with their respective teams. The Seahawks and Raiders can both move away from their veteran quarterbacks a year from now without spending north of $40 million.
There would be dead money involved if the Raiders cut or trade Smith after one season, but that isn’t a detail that will worry the team a lot considering they were sitting on upwards of $48 million in cap room prior to the extension with Smith.
x: @raidersbeat
That was smart business. Painless. Brilliant execution! Props given!
So, more than likely we’ll be drafting a QB this year. But, will it be Sanders in the first rd or another in a lower rd? The Raiders aren’t tipping their hand on which it will be. Looking forward to the draft. I’m liking the Smith acquisition more now than when they trade occurred. The rookie QB won’t be pressured to start right away. Good job Spytek. Now please fortify the OL!
It will be Sanders because he’s ready to play now. If they were going to draft a developmental QB, Geno would have more guaranteed $$$ in his contract. Read the tea leaves 👀
I’m glad you couldn’t be more wrong.
This makes sense because no matter what, the Raiders are drafting Shedeur Sanders. Mark Davis made that clear to every coach and GM that interviewed for the job. Davis and Brady are in lockstep. Even though Shedeur is the most pro ready QB in this draft, Brady still wants him to sit a year same as he did. Don’t hate the messenger 🤷🏾♂️
Could be, only the Raiders know. But, if the Browns or Giants select him it will be a moot point. There’s also the possibility that the Jets, Saints,Steelers, or another team enamored with him could trade up for him. Then again, some draft analysts have him dropping into the early 2nd rd.