The Raiders have a deal done with Geno Smith. They are giving the trade acquisition a two-year extension, NFL.com’s Ian Rapoport reports. This will keep the ex-Seahawks starter under contract through 2027.
It appears initial reports, like when Smith signed his 2023 Seahawks contract, featured a slight inflation. Smith’s Raiders deal will be worth $75MM, ESPN’s Adam Schefter reports. Earlier reports indicated the deal checked in at $85.5MM, though Schefter indicates that represents the pact’s max value. Smith’s new contract will come with $66.5MM guaranteed, Fox Sports’ Jordan Schultz reports.
This represents a bridge deal for both parties, though Smith’s age may well make this his final starter-level contract. Set to turn 35 in October, Smith had angled for a deal north of $40MM per year. That aim prompted the Seahawks to trade their three-year starter rather than agree to his price. The Raiders, after being prepared to give Matthew Stafford a big guarantee in a trade, pounced and reunited him with Pete Carroll.
This marks Carroll’s second time signing off on a Smith starter-level contract, as he was in place as the Seahawks’ top decision-maker when they gave him a three-year, $75MM deal in 2023. That turned out to bring good value for the Seahawks, who held Smith to the deal even as he pushed for a new one in 2024. Although Smith could not quite reach that $40MM-per-year point during his Raiders talks, the reclamation project did secure a significant raise.
At $37.5MM per year, Smith again will come in with a lower-middle-class contract on a skyrocketing QB market. When Smith signed his $25MM-AAV deal in March 2023, the league had not seen the $50MM-per-year club form. It has now, with 10 passers comprising it. Smith only moves up a few spots on the QB salary list, and it is certainly no coincidence his new AAV matches Derek Carr‘s Saints number.
Though, it is notable the Raiders were only comfortable matching that — as Carr secured those terms when the cap resided at barely $224MM. It is now at $279.2MM, inviting questions about the Raiders’ commitment level. The Raiders were ready to give Stafford a deal that included at least $90MM guaranteed. The Rams standing down and retaining their starter forced the Raiders and Giants to look elsewhere, and both teams approved cheaper contracts to address their QB voids.
Rather than dive into the free agent QB market and enter a draft chock full of maligned passing prospects, the Raiders traded a third-round pick for Smith. They are catching the former second-rounder going into his 13th NFL season, but these terms align with Carroll’s stopgap coaching contract. The Raiders gave Carroll a three-year deal, one aimed at bringing stability to an organization that has lacked it for many years. We now have a timeline on the latest Carroll-Smith partnership, as this contract buys the AFC West club some time to find a true long-term option.
It also should not be viewed as a random occurrence that Smith’s deal surpasses Sam Darnold‘s new Seattle AAV, which is $33.5MM. The Seahawks have been out of the franchise-QB payment game since trading Russell Wilson to the Broncos, and rather than reunite with Wilson, Carroll chose Smith and now has him tied to the NFL’s 16th-highest QB contract. This should give the Raiders some flexibility, though it will be interesting to learn what the guarantee at signing is.
The Raiders gave Carr two franchise-QB-level extensions, the first (in 2017) setting an NFL record and the second (in 2022) being a clear bridge deal while the Josh McDaniels-led regime evaluated the fit. As the fit proved poor, the Raiders soon lost their QB stability by cutting Carr. They have moved on from their past two Week 1 starters — Jimmy Garoppolo, Gardner Minshew — via post-June 1 cuts. Smith will enter 2025 — barring a surprise first-round QB draft choice — on steadier ground compared to his two veteran predecessors in Vegas, though this contract length does invite questions beyond 2025.
New Raiders GM John Spytek said recently the Raiders want Smith as their starter for “years to come.” Smith may well have the inside track to be the Silver and Black’s starter in 2026 as well, but the Raiders figure to do more QB homework ahead of next year’s draft; as of now, that crop looks better than what the 2025 draft presents. Smith, however, will have a chance to keep his post-30 momentum going.
Although Smith bettered his Comeback Player of the Year completion rate (69.8, a number that led the league in 2022) by connecting on 70.4% of his throws last season, he threw 15 interceptions. Smith’s yards-per-attempt number (7.5) matched his 2022 breakthrough, but he was also working with a skill-position group better than what he inherits in Las Vegas. Brock Bowers delivered a historic tight end rookie season, but questions about for the Raiders at the other spots. How Spytek, Carroll and Tom Brady address the receiver position will play a key role in how their QB trade asset fares.
Prior to acquiring Carr, the Raiders carried an extensive history of late-career QB projects — from Carson Palmer to Rich Gannon to Jeff George to Jeff Hostetler to Jim Plunkett. While the Garoppolo swing and miss highlighted an overmatched regime, Carroll’s familiarity with Smith should help the Raiders pick up the pieces after a rough period.
So this is going to put him at something like 15th in AAV with only a two year commitment? That’s very reasonable, as was a third round pick. Of all the teams that needed a quarterback this offseason, I think the Raiders found the best answer.
Best bang for the buck by far.
I like it. It locks in a decent QB, but allows us to pick a future QB if the board breaks right. Unless he collapses, this a contract that can be moved, if necessary.
If he collapses. No one is trading for a 30 million dollar backup QB lol.
As a Falcons fan I sure do hope some team is willing to pay for an expensive backup QB 😉
Doesn’t appear to be significantly more than he would’ve got in Seattle.
Doesn’t seem like they are going to draft a QB early.
The contract is only for a couple years. Besides, they don’t wanna throw a rookie straight into the fire. That being said, this isn’t a deep QB draft class….
Everybody forgets Carson Palmer’s time in Oakland.
No, it’s just that he was an immeasurably better QB than Geno Smith
I’m referring to the fact it gets overlooked even though he played an important role in developing some of those young players with his QB play.
I remember Geno at WVU. Always seemed like a hard working guy
But the second half of your comment struck me. I’d love to know how many “older” QB’s see the bigger picture for a team and are willing to work with a future replacement
Sure didn’t happen here in Pittsburgh
Interesting. Of recent memory I can think of Alex Smith with Mahomes but not much else. I know Favre and Rodgers didnt get along at first. Same for Rodgers and Love (I believe).
Yeah I can’t really think of many. This may be the case for Geno too. They’ll draft a QB but I feel it’ll be later rounds. Like Howard or McCord but that’s no threat to Geno as QB1. I’m hoping Geno has a Rich Gannon trajectory. They both came to the silver and black at the young age of 34.
Wow! That’s a lot of money for Geno
You really think so? I guess I see it as not really for a guy who’s pretty durable, completes a high % of his passes and throws for a lot of yards. I feel the Raiders could’ve done worse than Geno. Personally I prefer Geno over Darnold.
Hey kids remember mediocre qbs get a lot of money and get the girls
Guess this is the going rate for the fourth best qb in the division