Geno Smith’s contract details: Salary and years left with the Seattle Seahawks

Geno Smith once again proves his critics wrong by delivering performances highlighting his value to the Seattle Seahawks. It’s hard to overlook his impressive accuracy, as his inaccurate throw percentage is just 5%, far below the league average of 20%.

While this piece isn’t solely focused on the numbers, just to be known Smith has already set both personal and franchise records this season.

Geno Smith’s contract in bits and pieces

But beyond his current play, Geno’s contract with the Seahawks is a major talking point. Signed about a year and a half ago, his deal was considered extremely team-friendly: three years for $75 million, with $15 million in escalators built into the final two years. In 2024, Smith will earn a base salary of $12,700,000, a restructure bonus of $9,600,000, and a workout bonus of $200,000 while carrying a cap hit of $26,400,000 and a dead cap value of $39,700,000.

The before-mentioned escalators, which kick in only if specific performance benchmarks are met, provide a wrinkle to the contract. While Smith regressed statistically in 2023 and didn’t hit any of those performance markers, 2024 could be different—Smith is on pace to meet several key targets, which would trigger contract bonuses.

For context, the escalators tied to Smith’s contract required him to hit five benchmarks: 4,282 passing yards, 30 touchdowns, a 69.7% completion rate, a passer rating of 100.9, and 80% of the team’s snaps, along with either 10 wins or a playoff appearance. So far, Smith looks poised to hit at least three of these markers. He’s on track to surpass the yardage target, is second in the league in completion percentage, and should easily reach the required snap percentage and win total.

However, the categories where he’s currently lagging are touchdowns and passer rating. Despite his overall excellence, Seattle’s potent running game has meant that many red zone opportunities end in rushing scores rather than passing touchdowns. Smith has four passing touchdowns through four games, while the Seahawks have eight rushing scores. His passer rating also suffers from a few unlucky interceptions, leaving him off the pace to hit the 100.9 rating required for that escalator.

If Geno does meet most of these benchmarks, the Seahawks will owe him a hefty bonus, which will impact next year’s salary cap. For now, though, the Seahawks seem content, knowing they’re getting incredible value for what they’re paying him. And with how Smith plays, it’s easy to imagine a contract extension soon. The only thing standing in the way is the potential bonus money, which Seattle must navigate prudently when planning for future cap space.