The Seahawks want Geno Smith back. At least that’s what Pete Carroll and John Schneider are saying in public. Last offseason fans learned that we can’t always take what they say at face value – especially regarding their plans at quarterback. However, for now we will assume they’re telling the truth and do plan to bring Smith back for 2023 and possibly beyond.
The question now is how much he’s really worth. $30 million per year seems to be the popular dividing line between what fans are willing to accept and what they feel is too expensive. Richard Sherman says if Smith gets less than that it would be a travesty given how Smith performed this year.
That figure is too low, though. Remember – even game manager quarterbacks are making around/above $35 million per season now – and Smith has proven he has a higher ceiling than the likes of Derek Carr and Kirk Cousins – who are two of his closest market value comps.
Our best guess is that Smith’s people will go into negotiations demanding more but hoping to get $40 million annually – which would rank No. 10 at the position. Seattle will push for a lower figure, but for what it’s worth it’s pretty close to what Spotrac is projecting Smith’s value to be. They say Smith is worth $39.3 million per season and predict he will sign a two-year deal, totaling just under $78.66 million.
Two years seems like a fair sweet spot as far as the length of the contract. The actual dollar amounts – especially guaranteed money – is what will determine when and if a deal will get done.
According to NFL Network, Smith will be back next season one way or another. If that’s the case then Smith knows he can get at least what the franchise tag is worth for a quarterback. Over the Cap is projecting it will be worth $32.445 million in 2023.
