How much will a Geno Smith extension cost the Seahawks?

The Seattle Seahawks are expected to approach starting quarterback Geno Smith about a contract extension this offseason. It totally makes sense. Smith is currently scheduled to enter the final year of a previously signed three-year extension in 2025.

The Seahawks should sign Smith to an extension. Smith is slated to carry a bloated cap charge of $44.5 million. That’s the ninth-largest cap hit of any QB in the league, per Spotrac. Partially as a result, Seahawks general manager John Schneider is facing some financial difficulties. A contract extension for his starting quarterback would help actually lower the immediate cap charge, providing some much-needed breathing room.

One area the Seahawks are getting fantastic value in Smith’s contract is the annual average. Smith’s yearly salary of $25 million ranks 19th in the league. The former West Virginia standout was a surprise performer when he inked that three-year deal, and he’s since outperformed the yearly value of his contract.

Smith will expect a raise in pay despite his advancing age. Quarterback contracts have grown tremendously since his last extension. For example, statistics don’t paint the complete picture, but Smith is the 19th-highest paid QB while finishing fourth in passing yards and 13th in touchdowns this past season.

It’s fair to assume Smith will expect to surpass $30 million per year on a short-term contract extension. Baker Mayfield is younger, but signed a deal worth $33.3 million per season with the Tampa Bay Buccaneers when he was in a similar tier of quarterback. Derek Carr is making $37.5 million, and Kirk Cousins somehow landed $45 million last offseason while being both older and injured.

Smith’s next contract should pay approximately between $32 and $35 million per campaign. Given his advancing age, the Seahawks should limit the extension to three years with a potential exit route after the second season (following 2027). Schneider has Smith on a bargain at $25 million/campaign, but pending negotiations will surely get Smith more in-line with his tier of quarterback.