The Seahawks made a bold decision before the 2022 NFL season to roll with Geno Smith as their starting quarterback. It paid off in spades, as Smith was able to lead Seattle to the playoffs despite being one of the lowest-paid starters in the NFL.
Then, in the 2023 offseason, the Seahawks doubled down on their investment in Smith. They signed him to a multi-year contract extension that positioned him to double his career earnings during the 2023 season alone.
While Smith certainly benefitted from being able to cash in after his best-ever campaign, the Seahawks also built a mechanism into the deal to protect themselves. This was to ensure that Smith's Pro Bowl season wasn't just a flash in the pan.
Now, that very provision will come into focus as the Seahawks draw nearer to the 2024 NFL offseason.
Seattle can get out of Smith's contract after the 2023 season if it so desires. That may depend on whether the team can make a playoff run and exactly how the 33-year-old quarterback performs down the stretch.
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If Smith plays well and can lead the Seahawks to the playoffs again, then he will likely stay entrenched as the starter. But if the team comes up short and his performance is merely decent? That will force the team to face some difficult decisions at quarterback.
Here's what to know about Smith's contract and his future in Seattle.
Geno Smith contract details
The Seahawks signed Smith to a three-year deal worth up to $75 million during the 2023 NFL offseason. The contract came with a reasonable $40 million in guaranteed money and made Smith a rare member of the NFL's middle class of quarterbacks when he signed the deal.
As mentioned, the Seahawks have an easy way out of their contract with Smith if they desire to seek out an upgrade at quarterback. If the team wants to save money against the salary cap during the 2024 offseason, it can cut Smith to open up roughly $13.8 million in cap space.
Why is this the case? Smith is set to have a cap hit of $31.2 million during the 2024 NFL season. His dead-cap hit — the guaranteed money paid to a player no longer on the active roster — for that season will only be $17.4 million, so that would allow the Seahawks to cut or trade Smith to open up cap space.
Below is a full look at Smith's three-year deal with the Seahawks, per Spotrac.com.
| Year | Base salary | Bonuses | Cap hit | Dead cap hit | Cap saving (if cut) |
| 2023 | $1,200,000 | $8,900,000 | $10,100,000 | $27,500,000 | -$17,400,000 |
| 2024 | $12,700,000 | $18,500,000 | $31,200,000 | $17,400,000 | $13,800,000 |
| 2025 | $14,800,000 | $18,900,000 | $33,700,000 | $8,700,000 | $25,000,000 |
Of course, it should be noted that just because the Seahawks can cut Smith to save nearly $14 million in cap space doesn't mean they will. Seattle would only do that if it knew that it was going to land an upgrade at the quarterback position. And while the 2024 NFL Draft class is loaded with potential starting QBs, the Seahawks would be better served to draft one to serve as Smith's successor given that their first selection projects to be late in the first round.
Also, it's not like Smith has been bad during the 2023 NFL season to date. He ranks middle-of-the-pack in both passer rating and QBR, so the Seahawks may be willing to stick with him provided that he doesn't endure a precipitous drop-off late in the season.
And if the Seahawks do keep Smith, they will have a more beneficial out in the contract during the 2025 offseason if he struggles. They could release him at that point to open up $25 million in cap space while taking a dead-cap hit of just $8.7 million.
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So, cutting Smith during the 2024 NFL offseason doesn't look all that likely.
But could the Seahawks look to trade Smith? That remains possible if they are able to land an upgrade at the position or draft a high-end passer that they believe is ready to start in Week 1.
Smith would likely generate some interest on the trade market, and offloading him before June 1 would give the Seahawks a solid boost in available cap space. Meanwhile, a post-June 1 trade (or release) would open up more cap space for the Seahawks, as it would defer some of Smith's dead-cap hit into the 2025 NFL season.
Here's a look at how the Seahawks' salary cap would be impacted by a Smith trade on or before June 1.
| Year | Pre-June 1 trade dead money | Pre-June 1 trade savings | Post-June 1 trade dead money | Post-June 1 cut savings | Ensuing season dead money |
| 2024 | $17,400,000 | $13,800,000 | $8,700,000 | $22,500,000 | $8,700,000 |
| 2025 | $8,700,000 | $25,000,000 | $8,700,000 | $25,000,000 | $0 |
And here's a look at how it would be impacted by a release with a post-June 1 designation in each season.
| Year | Pre-June 1 cut money | Pre-June 1 cut savings | Post-June 1 cut dead money | Post-June 1 cut savings | Ensuing season dead money |
| 2024 | $17,400,000 | $13,800,000 | $8,700,000 | $22,500,000 | $8,700,000 |
| 2025 | $8,700,000 | $25,000,000 | $8,700,000 | $25,000,000 | $0 |
Long story short, the Seahawks have options about what to do at quarterback. The only question is whether they will exercise the out or if they will stick to the plan and trust Smith.
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Geno Smith stats
Given how Smith has performed through 12 weeks of the 2023 NFL season, it's hard to imagine the Seahawks moving on from him. He has been average among NFL starters, but he has been able to stay on the field for the most part and grind through injuries.
Below is a look at Smith's stats through his first 11 starts.
| Stat | Total | League rank |
| Comp. % | 65.4 | 18th |
| Passing yards | 2,584 | 15th |
| Pass TDs | 12 | T-18th |
| INTs | 8 | T-10th |
| Yards/attempt | 7.2 | 14th |
| Passer rating | 88.2 | 18th |
| QBR | 50.2 | 20th |
| PFF grade | 76 | 16th of 37 |
Is there room for improvement with Smith? Sure, but there's no guarantee that the Seahawks would be able to land a better value with a lower-cost veteran. They may bring in some younger competition to challenge him, but the team will be hard-pressed to land a sure-fire upgrade via free agency, trade or the 2024 NFL Draft.
As such, Smith looks like he will continue to play in Seattle in 2024. Just don't count out the possibility of the Seahawks moving on from him if their plans change.
