Inside the new Geno Smith deal

Quarterback Geno Smith has gotten his extension. He didn't get it from the team everyone thought he'd get it from.

Four weeks ago today, the Seahawks abruptly struck a deal to trade Smith to the Raiders. On Thursday, news emerged of two new years being added to the one year remaining on his existing deal with Seattle.

Per a source with knowledge of the terms, Smith's 2025 compensation increased from $31 million to $40 million.

In 2026, Smith has a base salary of $26.5 million. Of that amount, $18.5 million is fully guaranteed at signing. The remaining $8 million is guaranteed for injury; it becomes fully guaranteed on the third day of the 2026 league year.

In 2027, Smith is due to make a non-guaranteed salary of $39.5 million.

The deal includes $3.5 million each year in incentives, for a maximum payout of $116.5 million.

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. 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, in contrast, can get out of the Darnold deal after one year and $37.5 million. With no offset issue for 2026.

Either way, the third year is an obvious team-held option. If they keep him beyond 2025, it's a two-year, $66.5 million contract with 2027 TBD.