Redskins To Extend QB Alex Smith

The Redskins have agreed to a new four-year contract with newly-acquired quarterback Alex Smith that will keep him in the nation’s capital through the 2022 campaign, according to Adam Schefter of (Twitter link). Alex Smith (Vertical)

The new deal will pay Smith $23.5MM annually and features $70MM in guarantees, reports Chris Mortensen of (Twitter link). That guarantee figure likely doesn’t refer to full guarantees, as no player has topped the $61MM mark in full guarantees. However, Smith will still become the sixth-highest-paid quarterback in terms of annual salary.

Smith had only one season remaining on his former contract: he would’ve earned a $14.5MM base salary next season, and because he was acquired via trade, Washington wouldn’t have been on the hook for any of his signing bonus proration. Whether Smith’s new deal alters his 2018 cap charge is unclear, but he’s likely to pocket some extra cash this year thanks to a fresh signing bonus.

The Redskins rank near the top of the league in available cap space with more than $52MM in reserves, so they’ll be able to afford to give their new quarterback a raise. While Smith is coming off arguably the best season of his career, he’s also 33 years old, so he may not have had the leverage to become the league’s highest-paid quarterback. Washington and Smith likely agreed to an extension prior to the trade that will significantly increase Smith’s salary, but keep him below the $25MM+ average that currently tops the quarterback market.

Washington was famously resistant to inking former starter Kirk Cousins to a long-term deal, and had assigned the Cousins the franchise tag for two consecutive seasons. As such, Cousins earned nearly $44MM from 2016-17, and would have taken home north of $34MM in 2018 had the Redskins opted to deploy the franchise tender again.

View Comments (37)