APRIL 4: Smith’s 2025 compensation will jump from $31MM to $40MM, Mike Florio of Pro Football Talk reports. The 2026 season includes a $26.5MM base salary; $18.5MM of that figure is already locked in. The remainder will shift from an injury to a full guarantee of the third day of the ’26 league year.
None of Smith’s salary for 2027 ($39.5MM) is locked in, a sign of the short-term nature of this commitment. $3.5MM in annual incentives bring the maximum value of the pact to $116.5MM, but with an out after the 2026 season (and perhaps earlier) it is highly unlikely Smith will approach that figure.
APRIL 3: 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.
Rumors are Seattle offered a two year extension at 40 million per. He turned it down. Team wasn’t going any higher based on age and 24 performance mistakes. He did pretty much get same.
And I’d rather have Geno than Sam. If you’re a “hawks” fan you’re going to disagree but in all reality Geno has done well over the last several seasons while Sam has really had last year
As a Hawks fan I’m open to what happens. Geno helped the team but also made a lot of costly mistakes. With history and age it’s hard to say. He could have two great years of mediocre. Sam..I’m hoping we see the good part of the year Sam from last year…oh I’m concerned with him. I’m a wait and see guy this year. I do hope Hawks and Raiders should draft a later round QB for future.
No one is taking Geno Smith over Sam Darnold. Darnold is way younger and clearly has more upside.
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.
Trent Green was another guy that knocked around several seasons as a 3rd stringer before getting his chance.
Different Raider team. Carson ended up
Playing for one of the most underrated HCs in the modern era and thrived (after he left Oak). The Oak HC (carson played for) can’t even find a reporter gig. So a very different team
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
The 4th best is Nix. So what’d he make last year? Whatever that is the going rate for the 4th best.
Nix is better then Geno Smith
I’d take Geno over nix at this stage. Nix has only played one season and had an ok rookie year. Better than expected.
For all we know Nix may be the next Mac Jones. Ok rookie year then fell off…we don’t know. But we know what we are getting with Geno.
Poor raiders fans. Making that division easier for Mahomes , Nix and Sherbert ….
3 horse race … or 1 horse , 2 pony’s and a tree sloth.
I’m guessing the sloth is Nix? Because you can never put much into 1 season. Geno has been in the league 11 going on 12. We really don’t know what Nix is yet. So the tree sloth I’m assuming is Nix. I’d agree
Geno is by far the sloth , Nix will be 3 times the QB Geno has been
Time will tell. I NEVER judge a QB after one season. Nix had an ok rookie year but time will tell. One season doesn’t make a career. Nix may never throw for 4k (yet Geno has a few times) You never know.
Are they tanking to move to Vegas again?